By: Bradley C. Smith
Range bound in recent weeks, the EUR/USD's daily chart will stay that way with the two heavy news items released today. These items will weight the USD side of the pair and bring it closer to 1.3500 once again. The StochRSI has been flying high and is ready to put the RSI it foretells the direction of, down. The Bollinger Bands have the price above their centerline and the Full Stochastics are at their centerline. The technicals are comfortable with today's news releases taking this pair down.
Put to a three hour chart, the EUR/USD is ready for gravity (news, technicals and the recent range) to take over. Short it now or right before the new releases, your choice.
8:15am est USD
ADP Non-Farm Employment Change Forecast -15K Previous -22K
10:00am est USD
ISM Non-Manufacturing PMI Forecast 51.0 Previous 50.5
