By: Bradley C. Smith
The EUR/USD's daily chart dives deeper down, despite what each of the four technical indicators put to it have said. The only rule that could of kept anyone out of a bad trade is, never trade against the trend, a rule that many follow. With no heavy news due today for this pair, I would follow this rule also, despite the tale the technicals tell.
Zoomed in on the three hour chart, the EUR/USD, reminds us to remember the rules. A move this large and clear likely is to stay. The “market movers” are not likely to push a pair this much on a whim. Do you remember the rule?
