By: Bradley C. Smith
Technicals take over today, with no major news releases to guide the EUR/USD's direction. The wave formation between 1.3600 and 1.3300 appears due for a upward undulation, from a price action perspective. The Bollinger Bands, Full Stochastics, StochRSI and RSI each below their centerlines appear to have no objection.
Only the RSI indicator of the three hour chart agrees with the daily chart's price action, about the need for a upward direction for the day. The flatlined price in recent hours will soon have this timeframe's technicals catch up with it though. The wave idea might wind down the week.
