By: Bradley C. Smith
No clear technical direction is on the table. Fortunately both of the heaviest news items for this pair are not favoring the Dollar and except for the StochRSI all of the indicators are at or below their centerlines. This combined with yesterday's sharp decline in this pair, will allow for a easy rise today.
Each indicator is below it's centerline and the price action is waiting for some news around a tight price area on the EUR/USD's three hour chart. The two news releases below will be enough to move this pair upward. Keep your stop-loss tight, because there is still some momentum from yesterday's Unemployment Claims report remaining.
8:30am est USD
Non-Farm Employment Change Forecast 56K Previous -20K
8:30am est USD
Unemployment Rate Forecast 9.8% Previous 9.7%
