By: Bradley C Smith
The EUR/USD is trying to escape the Bollinger Bands and the Full Stochastic the StochRSI is trying to follow. Only the RSI is still at it's centerline. The bad employment news for the dollar last week will allow these indicators to push this pair out the top of your monitor. Trade Balance news below is also not forecast to be helpful for the dollar's efforts to be a strong currency. A retracement happened yesterday and the 1.4500 area looks like it will last.
Bollinger Bands and StochRSI centerlined with Full Stochastic and RSI windows just above center, the three hour EUR/USD timeframe shows in more detail the Euro's climb back to power over the dollar. Short any extreme lows before the Trade balance news comes out and keep your stop-loss tight if the forecast was wrong.
8:30am USD est
Trade Balance Forecast -34.9B Previous -32.9B
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