By: Bradley C. Smith
The recent move upward will be held strong by the likely Pending Home Sales numbers, which are not looking good for the dollar. Though the pair is high for the Bollinger Bands and the StochRSI, it is around the centerline for the Full Stochastics and RSI. More signs say the EUR/USD will be moving up on the fifth, so that is where I will place my bet.
The immediate movement before the hard hitting news, at least according the the technicals on a three hour chart all appear to allow us a opportunity to short some lows before the ride upward before that news release. Each of the indicators is asking to pull the pair down.
10:00am USD est
Pending Home Sales m/m Forecast -2.3% Previous 3.7%
