By: Bradley C. Smith
The distance Bollinger Bands, Full Stochastics, StochRSI and RSI have strayed, tell me the EUR/USD is oversold on the daily and 3 hour charts. The exchange rate for the EUR/USD 24 hours from now will be at least over 1.4800. The strongest news events that help ensure this climb the EUR/USD will take back to 1.5000 are both released at 11:00am est Nov 2nd, ISM Manufacturing PMI and Pending Home Sales m/m. With the forecasts for both these releases looking unfortunate for the USD, the releases will help anyone going long on this pair make their entry and solidify another step back to and beyond 1.5000.
11:00am est
ISM Manufacturing PMI forecast - 53.1 previous - 52.6,
Pending Home Sales m/m forecast - 0.3% previous - 6.4%