EUR/USD, 1.2740 to Hold

By: Bradley C. Smith

Another recent rise, helps each of the four indicators on this daily chart cry out, that the EUR/USD is overbought. The two hard hitting, notable news forecasts below, hope to silence the overbought cries.

A ceiling of 1.2740 appeared later in the day on this three hour chart. If the forecasts below, foretell the future, the ceiling will not be touched again. If the cries of each of the technical indicators on the three hour chart are answered by traders, the ceiling will hold. Keep your stop-losses tight and alarm clocks set, if you need them for these news releases.

8:30am est USD
Core Retail Sales m/m             Forecast -0.1%                        Previous -1.1%

8:30am est USD
Retail Sales m/m                                 Forecast -0.2%                        Previous -1.2%