By: Bradley C. Smith
Range-bound with it's price action, lets look at the four technicals for further wisdom from the black abyss of the forex. The Bollinger Bands and RSI request gently a move upward while the StochRSI counters that and the center-lined Full Stochastic is out for this one. The momentum for the most technicals seem to want to carry the price downward and that agrees with the trend. Hopefully the three hour charts will reveal something for a shorter term.
All four indicators at or below their bottom lines, show the Euro is begging for a lift. With no legal medications, only the hard hitting news below can help. The news with the most weight tomorrow seems to favor the dollar. Non-farm employment change, will override any amount of technicals I put on here, so keep your stops tight if the news releaes does not agree with the trade you are in or want to enter.
8:30am USD est
Non-Farm Employment Change Forecast -3K Previous -11K
8:30am USD est
Unemployment Rate Forecast 10.1% Previous 10.0%
