By: Bradley C. Smith
Price action via the trend, directs us downward. News via the forecasts does as well. Bollinger Bands, Full Stochastics, StochRSI and RSI are each below their centerlines and are due for a retracement. Today is the due date for the birth of a giant however, the United States unemployment claims. This news item will overpower the strength of the four indicators.
The three hour charts are in the basement, ready for any excuse for a lift. The unemployment numbers have been getting better and better for the United States, could today's numbers break the small trend with a incorrect forecast? This is the most powerful news item for this pair today, so keep your stops-losses tight because this will overpower the technicals.
7:45am est EUR
Minimum Bid Rate Forecast 1.00% Previous 1.00%
8:30am est USD
Unemployment Claims Forecast 434K Previous 439K
