By: Bradley C Smith
The downtrend continues with no letup for any of the four technical indicators on the daily chart of the EUR/USD. Bollinger Bands have the price at the bottom, Full Stochastics are scraping the bottom, StochRSI is crawling at the bottom and RSI is rolling threw the mud. The hardest hitting of the news releases for this pair today, will only help ensure the dollar keeps these indicators down and this pair moving down.
If there is any spikes up today, short them and ride the strong downtrend. Right now the three hour trend is range bound and looking for the direction that will come from the big money when the UK trading session opens.
10:00am est USD
ISM Manufacturing PMI Forecast 55.5 Previous 54.9
USD, Will Take More out of EUR Feb 1st
DailyForex.com