By: Bradley C. Smith
The technicals have been taken to the top. Today however, ill news for the Dollar might remind them what home on a range bound chart is like. The expected retracement will likely end after 8:30am est, if the forecast is correct of course. If you trade the news release, keep your stop-losses tight, during these times of high volatility.
Range bound for most of yesterday the EUR/USD's three hour chart was waiting for today's trade balance release to kick it up or down. The forecast should determine your wake-up alarm if you are not retired already. The technicals on the three hour chart are low, high and centerlined because of the recent high range of movement, worry not though, they are lagging and this trade balance release will define the day.
8:30am est USD
Trade Balance Forecast -38.5B Previous -37.3B
