EUR/USD Technical Analysis Summary
Buy Stop։ Above 1.1349
Stop Loss։ Below 1.1308
Indicator
Signal
RSI
Neutral
MACD
Buy
Donchian Channel
Buy
MA(200)
Sell
Fractals
Buy
Parabolic SAR
Buy
EUR/USD Chart Analysis
EUR/USD Technical Analysis
The technical analysis of the EURUSD price chart on 1-hour timeframe shows EURUSD: H1 is retracing up toward the 200-period moving average MA(200) after hitting two-week low yesterday. We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian channel at 1.1349. A level above this can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 1.1308. After placing the order, the stop loss is to be moved to the next fractal low, 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
German ZEW economic sentiment improved in February. Will the EURUSD price continue rebounding?
German ZEW economic sentiment improved in February. The ZEW survey results showed German ZEW economic sentiment index climbed to 54.3 for February from 51.7 for January. This is bullish for EURUSD.