EUR/USD technical analysis summary
Sell Stop: Below 1.1542.
Stop Loss: Above 1.1606.
| Indicator | Signal |
| RSI | Buy |
| MACD | Sell |
| Donchian Channel | Sell |
| MA(200) | Sell |
| Fractals | Neutral |
| Parabolic SAR | Sell |
EUR/USD chart analysis
The technical analysis of the EURUSD price chart on a 1-hour timeframe shows EURUSD: H1 is retreating after testing the 200-period moving average MA(200) which is falling. We believe the bearish momentum will continue after the price breaches below the lower bound of the Donchian channel at 1.1542. 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 1.1606. 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 canceling the order: the market has undergone internal changes which were not taken into account.
Fundamental analysis of forex – EUR/USD
German factory orders growth was smaller than expected in September. Will the EURUSD price continue retreating?
German factory orders growth was smaller than expected in September. The statistics office Destatis reported German factory orders rose 1.3% over the month in September after an 8.8% drop in August when a 1.7% growth was forecast. This is bearish for EURUSD.
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