By: Bradley C. Smith
Bollinger Bands, Full Stochastics, StochRSI and RSI, all each decidedly determined to bring the EUR/USD up despite the slight downtrend it is enjoying. The dead cat bounce the U.S. Economy is in might help the forecast below be beneficial. That will counter the technicals and compliment the trend. Take note of the big money at the week's open and the opening of the 3am est U.K's trading session open.
Zoomed in we see the big money's move to strengthen the USD in detail, which the news release is forecast to do and the large trading houses did at the opening of the U.K. session. With the forecast so close to the previously released number and only one news item to favor a side of the pair, I would choose the big money's side, which side will you choose?
10:00am est USD
ISM Manufacturing PMI Forecast 60.0 Previous 59.6
