EUR/USD, technicals offer a down-Day

By: Bradley C. Smith

Only the volatile StochRSI is against a run down for the EUR/USD. Bollinger Bands, Full Stochastics and RSI, each support it. All different ways of analyzing market sentiment. A ill-forecast for the Euro could also potentially help move this pair down, if lagging technicals are not enough.

A timeframe free from most noise and each indicator is ready to roll the EUR/USD down the hill today. The three hour chart's technicals are unanimous in their desire to take the “Euro” down.

4:00am est EUR

German Ifo Business Climate                Forecast 101.5             Previous 101.8