EUR/USD, Technicals Can't Help USD Again

By: Bradley C. Smith

The trend, refusing to bend, receives some support today. The EUR/USD, gets news to nudge it up further. Despite yesterday being range-bound, all four technical indicators show that they still have some impetus left in them to keep the EUR/USD from rising further. This might keep this pair from going up today again.

The trend and news are powerful things and if any trades are entered into today, they should be longs. Today's ending price for this pair will likely be around the 1.3000 it started at, due to the range-bound aptitude it showed yesterday, it has been rising for some time and has some news to kick it up today, despite what the technicals say.

8:30am est USD

Core Durable Goods Orders m/m                   Forecast 0.6%                         Previous 1.6%

EUR/USD- Forex Technical Analysis