EUR/USD- Technically Time To Turn Down

By: Bradley C. Smith

Two weeks of retracement against the larger downtrend has allowed the four technicals the EUR/USD daily chart enjoys to rise above their centerlines and request a return to the trend. Bollinger Bands, Full Stochastics, StochRSI and RSI in unison with price action are ready for this pair to have closed down from where it is now in twenty-four hours.

Each technical indicator on the three hour chart is in agreement with their larger cousins next to them on the daily chart. The price on the three hour chart is puffed up, against the larger trend on the daily chart once again also. In twenty-four hours these technicals could be closer to the floor. With eight technicals and the price action on both time frames saying the same thing, which agrees with the larger downward trend, I would isolate my trades to sells today. You can if you would like to also.