By: Bradley C Smith
Each indicator window, Bollinger Band, Full Stochastic, StochRSI, RSI has it's indicator bound it the centerline. Price action has pinned this pair to the 1.4400 area. The Bollinger Bands, Full Stochastics and StochRSI have come down and might, threw a retracement bring the pair up a bit, with the RSI's help, because it has been under the centerline for a long time. What might will move this pair, not in the direction these four indicators might have planned though, is both weighted news items below. Both are forecast to to aid the USD side of the EUR/USD.
The three hour chart's indicators seem to agree with the forecasts. Three of the four are above their centerline ( the RSI is a slow mover ) and that could mean a retracement. I would keep my short term trades in favor of the dollar today.
5:00am est EUR
German ZEW Economic Sentiment Forecast 49.8 Previous 50.4
9:00am est USD
TIC Long-Term Purchases Forecast 30.3B Previous 20.7B
