By: Bradley C. Smith
Technicals have been pushed down due to the intentions of market movers. The Non-Farm Employment Change is forecast to empower the USD to help the EUR/USD dive further down. Bollinger bands are drawing nearer to each other, Full Stochastics and the StochRSI are now pointing to their centerlines. All small signs that things have settled down after the week's opening drop.
The rate has changed, yet this week's drive down will not end quickly. The forecast is for this pair to fall further. When the EUR/USD peeks up, when a three hour candle closes up or a small news item shakes the chart in the Euro's favor today, short if you can and want to.
8:15am est USD
ADP Non-Farm Employment Change Forecast 59K Previous 55K