By: Bradley C Smith
No heavy hitting news releases today, forces the Bollinger Bands, Full Stochastics, StochRSI and RSI to determine the fate of the EUR/USD. In stoic, black and white terms, the Bollinger Bands want the price to go up, the Full Stochastics want the price to go up, the StochRSI wants the price to go up and the RSI wants the price to go up.
The three hour chart looks like it will attempt to overrule the daily chart's grim determination. Each indicator other than the RSI has voted for a downward movement. The short term trend also on the three hour chart, is aimed downward, it will take a lot to turn it around. The overall trend is down on both charts and technical indicators are lagging, I would keep any trades short, especially now that the price action has show some comfort in recent days around the 1.4150 area.
EUR/USD, Technicals, Overruled by theTrend
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