By: Bradley C. Smith
Each technical indicator on the daily chart still has left room for the EUR/USD to fall a bit further. Today, two heavy handed news releases are forecast to aid this pair in finding it's low for the week. A ill forecast for the Euro and fine forecast for the Dollar will help override the any upward movement price action might want to enforce, after the powerful downward drop seen yesterday.
The last two weeks have seen a rebellion against the larger trend on the daily chart. The news items today will help the trend to mend. Three hour candles closing up will be more uncommon, look at the chart. Find one to enjoy the likely upcoming reborn downtrend, if you like.
4:00am est EUR
German Ifo Business Climate Forecast 101.2 Previous 101.5
10:00am est USD
Existing Home Sales Forecast 6.17M Previous 5.77M
