By: Bradley C. Smith
The EUR/USD's daily chart shows a lapse in the dollar's recent rise to power. This will likely be corrected by the two high powered news items that are released on the 3rd. The Bollinger Bands are narrowing and helping this pair get comfortable around 1.4000. Full Stochastics, StochRSI, and RSI are rising up from the depths of each of their windows and also allowing the dollar to gain comfort in it's new region.
Zoomed in, the EUR/USD pair looks like it is in a high and ready to be shorted when the news forecast to be favorable to the dollar mentioned above hits. Short this pair if the forecasts are correct with their good news for the dollar.
8:15am est USD
ADP Non-Farm Employment Change Forecast -31K Previous -84K
10:00am est USD
ISM Non-Manufacturing PMI Forecast 51.1 Previous 49.8
EUR/USD, Favorable Forecast for the USD
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