EURUSD Pair Oversold

Posted on Thursday, February 4th, 2010 at 5:51 pm.

Dr. Blythe here,

At the beginning of the week the Euro US Dollar currency pair was oversold and then had some retracement to the weekly pivot and the hourly gap. Now after the unemployment claims the USD has again gained strength pushing the pair into the oversold. With NFP in the morning we will see a big push but then look for another retracement. Happy Trading.