EUR/USD Technical Analysis Summary
Sell Stop:Below 1.1589
Stop Loss:Above 1.1603
| Indicator | Signal |
|---|---|
| RSI | Neutral |
| MACD | Sell |
| Donchian Channel | Sell |
| MA(200) | Sell |
| Fractals | Sell |
| Parabolic SAR | Sell |
EUR/USD Chart Analysis
EUR/USD Technical Analysis
The technical analysis of the EURUSD price chart on 1-hour timeframe shows EURUSD: H1 is retreating after breaching a support line below the 200-period moving average MA(200) which is falling. We believe the bearish momentum will continue after the price breaches below the lower bound of the Donchian channel at 1.1589. A level below this can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 1.1603. After placing the order, the stop loss is to be moved to the next fractal high indicator, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of Forex - EUR/USD
Euro zone producer prices growth was smaller than expected in August. Will the EURUSD price continue retreating?
Euro zone producer prices growth was smaller than expected in August. The statistics office Eurostat reported Producer Price Index (PPI) rose 1.1% over month in August after 2.5% gain in July when a 1.3% growth was forecast. This is bearish for EURUSD.