EUR/USD, Perfect Storm Plunge?

 

 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


Did you like what you read? Let us know what you think!

exclamation mark

Please make sure your comments are appropriate and that they do not promote services or products, political parties, campaign material or ballot propositions. Comments that contain abusive, vulgar, offensive, threatening or harassing language, or personal attacks of any kind will be deleted. Comments including inappropriate will also be removed.

0 User comments

exclamation mark

Please make sure your comments are appropriate and that they do not promote services or products, political parties, campaign material or ballot propositions. Comments that contain abusive, vulgar, offensive, threatening or harassing language, or personal attacks of any kind will be deleted. Comments including inappropriate will also be removed.

Read more
Add new comment
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.