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EUR/USD, USD Technically, Overbought

EUR/USD, USD Technically, Overbought

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26 February 2010 12:04 PM GMT

With both of the heaviest news items for the EUR/USD canceling each other out, with good and bad news for the Dollar, let's turn to the technicals for some insight into how the market movers might justify their trades today. Only the StochRSI is high, each of the other indicators is asking yesterday's rise to continue, the trend will likely override that request.

The closer look the three hour chart allows, agrees with the trend. This could easily be interpreted as being in a overbought period by the market movers, with all four indicators being over their centerlines and yesterday's rise, when today's news hits. Sell the clear highs and stay out when the news hits today.

8:30am est USD

Prelim GDP q/q Forecast 5.6% Previous 5.7%

10:00am est USD

Existing Home Sales Forecast 5.51M Previous 5.45M

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Live FX Rates

Symbol	Change	High	Low

EUR/USD	0.007	1.2623	1.2562
AUD/USD	0.0111	0.9879	0.9799
EUR/GBP	0.0026	0.8036	0.801
EUR/JPY	0.23	100.21	99.81
GBP/USD	0.0042	1.5716	1.5678
USD/CAD	-0.0055	1.0271	1.0238
USD/CHF	-0.0045	0.957	0.9532
USD/JPY	-0.29	79.73	79.35

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