By: Bradley C. Smith
All aiming upward and each above the centerline, they are bound for a retracement soon. The upward climbing candle price action is also likely to support this. The EUR/USD is dancing in the clouds in the Full Stochastic, StochRSI windows and with the Bollinger Bands. Though the RSI has been below the centerline for a extended period of time and is looking for some fresh air, this will not be enough force to counter the combined power of the other indicators, with no heavy news releases for this pair today to support it.
The three hour chart follows it's big brother today into the sky. The employment news last week gave people a excuse to short the dollar and any retracement will be followed by a downward dance for the dollar.
