By: Bradley C. Smith
Intensely awful news for the side of the EUR/USD the United States has, rocketed this pair up. Bollinger Bands, Full Stochastics, StochRSI and RSI were each above their centerlines, this shows the importance of taking into account news when trading technicals. Technicals are lagging indicators and do not foresee the future.
On the three hour chart again, each technical foretold of a falling EUR/USD pair. All that is in the past now. More importantly, the two news items released were unemployment numbers, they inject huge impetus into a pair and this momentum warrants leaving a position open late into the day to enjoy the pips ratcheting upward. Keep a stop-loss trailing along at recent points of resistance or in the style that has been profitable for you.
8:30am est USD
Non-Farm Employment Change Forecast -106K Previous 431K
8:30am est USD
Unemployment Rate Forecast 9.8% Previous 9.7%
