By: Bradley C. Smith
Two of the three heaviest hitting news releases that will send the EUR/USD in a direction today that does not favor the Dollar. The other item is strong enough to ensure this day will likely end only slightly up. Each of the four technicals being under their centerlines, supports a lift in this pair also. The week saw a large drop to the 1.2200 area, since then only large fluctuations have happened. These large news items not liking the Dollar could create another large leap upward, similar to the ones earlier in the week. The precedent is there.
Pick a candle that closes down and open a position to enjoy a leap upward, with a tight stop-loss of course, before any news item favoring the Euro's side of this pair. Do the opposite for the 8:30am Unemployment Claims information, this release if correct, will create a day that is up only slightly.
8:30am USD
Unemployment Claims Forecast 454K Previous 457K
10:00am est USD
ISM Manufacturing PMI Forecast 58.9 Previous 59.7
10:00am est USD
Pending Home Sales m/m Forecast -7.4% Previous 6.0%
