By: Bradley C. Smith
What do the technicals say today? Bollinger Bands, Full Stochastics, StochRSI and RSI all are in agreement that the EUR/USD is oversold and is ready for a bounce off of the bottom Bollinger Band moving average. Straying far from their centerlines, all in the same direction, they are due for a run back home to safety, in this case, up. Price action, I think is clear, upward.
Price movement on the three hour Euro charts is does not easily reveal it's next move. The same technicals bound to it do squeeze some information from the chart though. All four at or below their centerlines, this final bit of technical information says the EUR/USD is ready to climb up. Trader sentiment will likely keep the climb limited, I feel it would still be a safe trade to buy the lows of December 9th though. There is no heavy news for this pair today.
