By: Bradley C. Smith
No news of note due Friday forces us to turn to the technicals today. Bollinger Bands below their centerline along with the RSI are neutralized by Full Stochastics and StochRSI being above their's. The trend however is upward and price action will likely support that, with a retracement after yesterday's sharp downward blast.
The three hour EUR/USD chart has each of it's technical windows lined up for a retracement supporting upward movement, as well as the price action. Take long trades when you are comfortable with the market being oversold in a timeframe of your choice, be it fifteen minutes or one hour.
