By: Bradley C. Smith
With bad news forecast for the Dollar the likely retracement the price action is asking for will be near certain with each of the Forex technicals on the EUR/USD's daily FX chart above their centerline. Only the conservative RSI is hesitant.
Looking for some further confirmation of the direction the daily chart has dealt us, we find the three hour chart's technicals are flying high above their centerlines also. Forex traders around the world will find the Euro is overbought on the short term and sell the Euro off, the news below will aid that.
7:30am est USD
PPI m/m Forecast -0.2% Previous 1.4%
