By: Bradley C. Smith
The only news with a forecast, or a forecast that differs from the previously released figures and is worth putting any commitment to, is USD's Unemployment Claims at 8:30am est.
The 5th of November will see a range bound market for the EUR/USD with a slight trend upward if the unemployment numbers are good for the USD as the forecast suggests. Bollinger bands speak of a range bound day, as does the RSI on the daily.
The Full Stochastic and the StochRSI on the daily chart crave some upward movement as I hear some dollar fundamental traders do. All these indicators on the three hour chart want a gentle down trend but the greater force of the daily chart and news for the USD tomorrow will override the desires of those indicators.
8:30am Unemployment Claims Forecast 523K Previous 530K
EUR/USD at Home on the Range
DailyForex.com