By: Bradley C. Smith
Two powerful news items dropping today for the Dollar will allow the EUR/USD to drop like a bomb today, if the forecasts are found to be true of course.
click on image to enlarge it
Waves patterns and retracements coming down are all the centerlined technical indicators are offering on the daily chart, that are notable above these heavy news releases. If both forecasts are wrong, the released numbers are still likely going to be above the previous actual numbers released.
Today's news releases will likely be favorable for the USD side of the EUR/USD. The three hour chart is offering a great chance to sell if you feel that way.
| 9:00am est USD | ||
| ISM Non-Manufacturing PMI | Forecast 54.2 | Previous 53.0 |
| 9:00am est USD | ||
| Pending Home Sales m/m | Forecast -0.6% | Previous -7.6% |