By: Bradley C Smith
Price action has allowed the unceasing domination in recent weeks of the USD. The Dollar's strength will continue for at least one more day due to the strong news release below.
click on image to enlarge it
Bollinger Bands, Full Stochastics, StochRSI and RSI each would like to direct the EUR/USD upward, however the trend is unlikely to bend today, with such a powerful news release due to hit at 8:30am est.
Put onto a three hour chart the EUR/USD pair is ready to move down from the slight high it is currently at, knowing the larger trend. If the Trade Balance forecast holds true, it will be time to short this pair once again and hold your position short and sure.
8:30am est USD
Trade Balance : Forecast -35.8B Previous -36.4B