Technical Analysis EURUSD : 2021-03-26

Recommendation for EUR/USD:Sell

Sell Stop : Below 1.1771

Stop Loss : Above 1.1796

MACD : Sell

Donchian Channel : Neutral

MA(200) : Sell

Fractals : Neutral

Parabolic SAR : Sell

On Balance Volume : Buy

Chart Analysis

The EURUSD technical analysis of the price chart on 1-hour timeframe shows EURUSD: H1 was retracing higher below the 200-period moving average MA(200) which continues to fall. We believe the bearish movement will continue after the price breaches below the lower bound of the Donchian channel at 1.1771. 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 1.1796. 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

German business confidence rose more than expected in March. Will the EURUSD rebound persist. German business confidence rose more than expected in March: the Ifo institute reported German Business Climate index for March rose to 96.6 from 92.7 in previous month, when an uptick to 93.1 was forecast. This is bullish for EURUSD. However EURUSD current setup is bearish.