By: Bradley C. Smith
With the good and bad news canceling each other out for the Dollar, the Euro's news is left guiding the EUR/USD upward. Bollinger Bands, Full Stochastics, StochRSI and RSI, all being dead on the floor of their respective windows, will not disagree and enjoy the lift from what they see as a oversold pair.
The three hour chart, magnifies the statement above with indicators that have been dragged along the floor for days. After the likely good and bad news for the Dollar renders it lame today and the Euro's news allows it to soar, permitted by the technicals and price action of course, this pair will end up on the day. That is just what I say though.
4:00am est EUR
German Ifo Business Climate Forecast 98.8 Previous 98.1
8:30am est USD
Core Durable Goods Orders m/m Forecast 0.7% Previous 1.4%
10:00am est USD
New Home Sales Forecast 326K Previous 308K
