EUR/USD, Sure to Sink

 

 By: Bradley C. Smith

            The tale the technicals would like to tell this day is one of a EUR/USD rising. When time and other factors are added in though, these technicals are actually rather high in their windows for their recent history. The Price action factor has this pair ready to plummet to complete the downward portion of a wave. The Trend factor has this pair enjoying the Dollar's dominance.

 

 

            Overbought seems to be the theme on the three hour chart, be it from a price action angle, technical analysis angle or going against the larger trend. News today, once tallied up does not bode well for the USD. There is nothing on the level of unemployment numbers being released today though. Down after this screenshot was snapped is the determination.


8:30am est USD


Core Retail Sales m/m                                      Forecast 0.1%                          Previous 0.4%



8:30am est USD


Retail Sales m/m                                                           Forecast 0.2%                          Previous 0.4%



9:55am est USD


Prelim UoM Consumer Sentiment                                 Forecast 74.7                           Previous 73.6


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.