By: Bradley C. Smith
Unable to turn a blind eye to the bomb forecast to favor the Dollar tomorrow, price action has decided to put the EUR/USD in a upswing so the coming potential downward movement will look like a nice wave on a daily chart. The trend will be satisfied also. However, Bollinger Bands, Full Stochastics, StochRSI and RSI will each be denied any dues.
With each indicator above it's centerline, the three hour chart is ready to receive the heaviest of the weighty news items tomorrow. Price action, technicals and trend are agreeing with the forecast, it looks like the perfect storm. Keep your stop losses tight and be wary before opening a position before 8:30 est.
8:30am est USD
Trade Balance Forecast -40.8B Previous -40.4B
8:30am est USD
Unemployment Claims Forecast 447K Previous 453K
