By: Bradley C. Smith
A doji candlestick on November 15 makes it clear 1.5000 still holds some strength as a resistance point if it was not clear already.
The Bollinger Bands, Full Stochastics, StochRSI and RSI agree as well and hint at a gentle downward movement.
Each three hour candle on the chart below was unable to move beyond the 1.5000 border on the 16th. The technicals tell of range bound movement for the EUR/USD today, while the pair plots it's next attack on the 1.5000 line this week.
The net foreign purchases of long-term securities is not expected to change by much on the 17th, so a range bound market with 1.5000 being the ceiling the EUR/USD bounces off of is what the day will be like. When the pair hits that ceiling, shorting it is a easy entry point.
9:00am USD est TIC Long-Term Purchases Forecast 27.3B Previous 28.6B
