By: Bradley C. Smith
The Bollinger Bands, Full Stochastics and RSI are venturing above their centerline on the one day charts while the StochRSI is remaining close to it's centerline. A StochRSI close to its centerline with a RSI above it's centerline means the RSI is likely to go down and of course the price also, in a perfect technical trading world. Price action on the one day chart does not reveal anything. I still feel 1.5000 will likely be hit hard November 23rd, read on.
On the three hour charts, price action on the 23rd should have the pair coming down after it's blast up early Monday morning. That blast had all four technicals following and as a result, retracements will likely follow as well.
With the one bit of hard new for the EUR/USD not looking good for the dollar, the day will be range bound around the mental barrier of 1.5000. Trade as you will with that in mind, short the highs and long the lows.
10:00am USD est Existing Home Sales Forecast 5.71M Previous 5.57M
