Recommendation for EUR/USD:Sell
Sell Stop : Below 1.1910
Stop Loss : Above 1982
RSI : Buy
MACD : Sell
Donchian Channel : Sell
MA(200) : Sell
Fractals : Neutral
Parabolic SAR : Sell
Chart Analysis
The EURUSD technical analysis of the price chart on 1-hour timeframe shows EURUSD: H1 has breached the support line and is falling below the 200-period moving average MA(200). We believe the bearish movement will continue after the price breaches below the lower bound of the Donchian channel at 1.1910. 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 1.1982. 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
Euro zone industrial production rose in January. Will the EURUSD retreat reverse? Euro zone industrial production rose in January: the euro area statistics office Eurostat reported industrial output rose 0.8% over month in January after 0.1 decrease in previous month, when an increase of 0.3% was forecast. This is bullish for EURUSD. However EURUSD current setup is bearish.