Technical Analysis EURUSD : 2020-12-16

Recommendation for EUR/USD:Buy

Buy Stop : Above 1.2211

Stop Loss : Below 1.2146

Indicator Value Signal
RSI Neutral
MACD Buy
Donchian Channel Neutral
MA(200) Buy
Fractals Buy
Parabolic SAR Buy

Chart Analysis

The EURUSD technical analysis of the price chart on 1-hour timeframe shows EURUSD: H1 is rebounding above the 200-period moving average MA(200) which is rising itself. We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian channel at 1.2211. 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 1.2146. 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

Euro-zone’s manufacturing sector expanded more than expected in December. Will the EURUSD rebound continue?

That’s a great post. I am glad that I came here and got to read your EUR/USD analysis. It’s good to know that the bullish momentum will keep continuing and giving me some more profitable trades in the future.