EUR/USD, Ride it Till The End

By: Bradley C Smith
Technically the EUR/USD should clearly be going up. Bollinger Bands, Full Stochastics, StochRSI and RSI do not need any long interpretation to see that. Price action is also marching in lock step with these four technicals on the daily chart also. The sentiment and feelings of market movers around the globe is what moves the market though.
The three hour chart's technical indicators have voted three to one for the pair to move upward. Their vote will likely be overridden today, as it has been for many days by the market movers. Price action on the three hour charts, what does it matter now? Just for fun, it is begging for a retracement. Speaking with other traders, there is no clear sentiment on where this pair is headed. I would ride it down as far as it will go with a stop-loss at a clear point of recent resistance on a 1 chart. Remember, the trend is your friend.