EUR/USD, Forecasts Foretell of a Fine Future for the USD

By: Bradley C. Smith

Bollinger Bands, Full Stochastics, StochRSI and RSI are unanimous in their decision for the remaining 24 hours after this screenshot was taken, down. The four technicals safe behind their windows are in on a secret though. Three news releases all forecast to favor the Dollar.

A steady uptrend will be tampered with today. The technicals on the three hour chart tell a tale of a tumble downhill long overdue for the the EUR/USD. The forecasts below foretell of a fine future for the USD. The news might help the last two daily candles that closed up, get their retracement done, with a daily candle that closes down.

8:30am est USD
PPI m/m                                                                      Forecast -0.2%            Previous -0.3%

8:30am est USD
Unemployment Claims                                               Forecast 448K             Previous 454K

10:00am est USD
Philly Fed Manufacturing Index                                Forecast 10.2               Previous 8.0

EUR/USD- Forecasts Foretell of a Fine Future for the USD