By: Bradley C. Smith
The hardest hitting news items for the EUR/USD pair are canceling each other out. Turning then to the technicals, they are all clearly far below their center lines, except for the StochRSI. With both news items offering a excuse for traders to interpret the market as they would like to see it, they might likely be tired of the overpowering downtrend and give this pair the up day that the technicals are pointing to.
The Bollinger Bands, Full Stochastics, StochRSI and RSI are all asking for a upswing to the EUR/USD today on the three hour chart. This is in sync with the ideas above. If prices break upward at 8:30 est, I would go long with a tight stop-loss.
8:30am est USD
Core Durable Goods Orders m/m Forecast 1.1% Previous 1.4%
8:30am est USD
Unemployment Claims Forecast 461K Previous 473K
