By: Bradley C Smith
The trend, in recent weeks, has been unwilling to bend. With the only hard hitting news today having a forecast favoring the Dollar, it is unlikely to bend today.
As the EUR/USD grows more comfortable around the 1.3700 region, the Bollinger Bands, Full Stochastics, StochRSI and RSI are rising up from the depths, now resigning themselves to the fact that the Dollar will keep much of the recent strength it has gained.
Though the trend of the three hour chart tries to rise to give value to the once strong Euro, each indicator on the three hour chart would like to bring it down.
Due to the news forecast and the greater trend, shorting the highs and the likely good news for the Dollar 8:30am est, looks like a likely profitable trade, with tight stops to keep losses under control.
8:30am est USD
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EUR/USD: the trend, will not bend
DailyForex.com