By: Bradley C Smith
The hard hitting news items of the day for the EUR/USD pair counteract each other so we must see what the Bollinger Bands, Full Stochastics, StochRSI and RSI have to say. Each is far below their centerline or touching it. This shows a readiness for the pair to have a overdue retracement on the daily chart these indicators are attached to.
(Click on image to enlarge)
For the three hour charts, the same indicators are ready for retracements for the same reason, they are at or below their centerlines and appear soon to bounce up along with the pair's price range. Today, longing the pair's valleys would be a smart trade.
| Forecast | Previous | |
| 8:30am USD est | ||
| PPI m/m | 0.8% | 0.3% |
| 9:00am USD est | ||
| TIC Long-Term Purchases | 38.3B | 40.7B |