By: Bradley C Smith
Each of the hottest news items for the Euro and U.S. Dollar on the 26th are forecast to favor their respective currency. That will cancel any benefits that these news items might have had for their respective currencies for the day. Bollinger bands on the EUR/USD's daily chart are spread wide and foretell of potential volatility. That volatility, if the Full Stochastic, StochRSI and RSI have their wishes granted will be come in the form of upward movement.
Each technical window on the three hour chart is asking for a retracement from the coming trading sessions around Europe. The plethora of news releases today will give traders excuses to balance the look of the EUR/USD's charts. With all the news today and the minds trying to find a excuse to see what they want from the pair, this pair will be range bound and in twenty four hours still be between 1.4100 and 1.4200.
4:00am est EUR
German Ifo Business Climate Forecast 95.2 Previous 94.7
10:00am est USD
CB Consumer Confidence Forecast 53.6 Previous 52.9
EUR/USD, At Home on the Range - 26 January 2010
DailyForex.com