EUR/USD Technical Analysis - EUR/USD Trading: 2021-11-05

EUR/USD Technical Analysis Summary

Sell Stop: Below 1.1530

Stop Loss:Above 1.1560

Indicator Signal
RSI Neutral
Donchian Channel Neutral
MA(200) Sell
Fractals Neutral
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 a rebound following the decline to three-week low yesterday. The 200-period moving average MA(200) is falling. We believe the bearish momentum will continue after the price breaches below the lower bound of the Donchian channel at 1.1530. 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 1.1560. 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 retail sales fell in September. Will the EURUSD price continue retreating?

Euro zone retail sales fell in September. The statistics office Eurostat reported the retail trade volume fell 0.3% over month in September after 2.5% gain August when a 0.2% growth was forecast. This is bearish for EURUSD.