By: Bradley C. Smith
Bollinger Bands, Full Stochastic and RSI hint at a slight downward movement on the daily while the StochRSI looks like it is happy to see things stay where they are. Price movement for the EUR/USD's daily chart does not offer any solid clues. Lets turn to the three hour chart then.
All four technicals on the daily are bound to their centerlines except the Full Stochastic which only gently hints at a downward movement. Price action also give no hard hints as to the EUR/USD's intentions for the first day of December. We are right around the strong psychological 1.5000 line already, so it might go up or down. There is some news however. Both items of hard hitting news are forecast to be bad for the dollar, which should send the EUR/USD up a few pips. Nobody can tell how much. I would buy the lows before 10:00am est though.
10:00am USD est
ISM Manufacturing PMI Forecast 54.8 Previous 55.7
10:00am USD est
Pending Home Sales m/m Forecast -0.4% Previous 6.1%
