By: Bradley C. Smith
The technicals are trumped today on the EUR/USD by three mammoth news items, all favoring the Dollar. Though each of the four technicals put to this pair's daily chart is below it's centerline and a rise would not be out of place, three news items will overpower the lagging indicators.
The downtrend on the three hour chart will continue with the news releases today. When this chart screenshot was taken it looks as though for the past eighteen hours the EUR/USD was waiting for these huge releases. Keep your stop-losses tight and enjoy the ride at 8:30am est or wait and see if all the releases agree for a larger trend to manifest itself after 10:00am est, if you would like.
8:30am est USD
PPI m/m Forecast 0.4% Previous -0.6%
8:30am est USD
Unemployment Claims Forecast 452K Previous 484K
10:00am est USD
Existing Home Sales Forecast 5.28M Previous 5.02M
