By: Bradley C. Smith
The heaviest news item for the EUR/USD pair will aid the four technicals this chart enjoys in their upward retracement effort. Existing home sales does not look good for the Dollar and that will aid all four technicals, which are all at or below their centerlines and the price action in the near certain retracement that will follow last week's steep decline.
The three hour chart is not wasting time, that means a shorter time frame must be used for a good entry point when searching for a low to enjoy the upward movement during the retracement. The retracement that sore news for the USD, price action and technicals indicators identified.
9:00am est USD
Existing Home Sales Forecast 5.01M Previous 5.05M
