By: Bradley C. Smith
Two heavy news items favoring the Dollar above the Euro today will justify each technical indicator being directed sharply downward. Unable to foresee the future, technicals indicators are best used in conjunction with other aids like the news.
Even with the three hour chart having a jump downward, the news items below are not yet out. It is still likely the EUR/USD will slide down, favoring the Dollar.
4:00am est EUR
German Ifo Business Climate Forecast 95.8 Previous 95.2
7:30am est USD
Core Durable Goods Orders m/m Forecast 0.6% Previous -1.0%
9:00am est USD
New Home Sales Forecast 318K Previous 309K
