Technical Analysis EURUSD : 2021-03-09

Recommendation for EUR/USD: Buy

Buy Stop : Above 1.1914

Stop Loss : Below 1.1837

RSI : Neutral

MACD : Buy

Donchian Channel : Buy

MA(200) : Sell

Fractals : Buy
Parabolic SAR : Buy

Chart Analysis

The EURUSD technical analysis of the price chart on 1-hour timeframe shows EURUSD: H1 is retracing to the 200-period moving average MA(200) which is declining yet. We believe the bullish movement will continue after the price breaches above the upper bound of the Donchian channel at 1.1914. 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 1.1837. After placing the order, the stop loss is to be moved to the next fractal low 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

Germany’s trade surplus exceeded expectations: Germany’s federal statistics office Destatis reported German trade surplus rose to 22.2 billion euro in January from 16.4 billion in December, when an increase to 17.9 billion was forecast. This is bullish for EURUSD.

Interesting as Dollar had been so strong but i like this analysis