EUR/USD, Uptrend and Forecasts Agree Today

By: Bradley C. Smith

Each technical indicator on the EUR/USD's daily chart is pinned to the top of it's window. Two of the three new hardest hitting news releases for this pair are forecast to hurt the Dollar today. That will help the trend however. The technicals have told us this pair is overbought for many days, the trend however is our friend for a reason. The news forecasts also agreeing with the trend today, should make the direction of any new trades opened clear.

The three hour chart will meander and stray more than the daily. Do not be swayed by it's movement, the trend and forecasts agree today. Technical indicators are lagging.

8:30am est USD
Core CPI m/m                                                  Forecast 0.1%                          Previous 0.1%

9:00am est USD
TIC Long-Term Purchases                                Forecast 35.7B                        Previous 83.0B

9:55am est USD
Prelim UoM Consumer Sentiment                     Forecast 74.2                           Previous 76.0