By: Bradley C Smith
The pair with the most volume on the foreign exchange market shows that it does not want to stray from that 1.3700 region. For the eighth day it wanders around that price area.
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Three of the four technicals this daily chart enjoys, Bollinger Bands, Full Stochastics and StochRSI are starting to rise to the centerline of their windows. As lagging indicators, these indicators might soon be put to the bottom of their windows again if the four forecasts are correct and found to be beneficial for the Dollar.
Steady decline favoring the Dollar's strength is what the three hour chart shows. Each of the technicals is waiting at it's center area for the news releases below. Good trades might be isolated to shorting the clear highs of this pair and enjoying any range bound movement or further strength the dollar shows.
2:00am est EUR
German Prelim GDP q/q Forecast 0.2% Previous 0.7%
8:30am est USD
Core Retail Sales m/m Forecast 0.4% Previous -0.2%
8:30am est USD
Retail Sales m/m Forecast 0.4% Previous -0.3%
9:55am est USD
Prelim UoM Consumer Sentiment Forecast 74.8 Previous 74.4