EUR/USD technical analysis: Will the EUR/USD price continue retreating?

Dmitry Lukashov IFC Markets

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.

Want to get more free analytics? Open Demo Account now to get daily news and analytical materials.

Author

Dmitry Lukashov

IFC Markets

Dimtry Lukashov is the senior analyst of IFC Markets. He started his professional career in the financial market as a trader interested in stocks and obligations.

EUR/USD climbs to two-week highs beyond 1.1900

EUR/USD is keeping its foot on the gas at the start of the week, reclaiming the 1.1900 barrier and above on Monday. The US Dollar remains on the back foot, with traders reluctant to step in ahead of Wednesday’s key January jobs report, allowing the pair to extend its upward grind for now.

GBP/USD hits three-day peaks, targets 1.3700

GBP/USD is clocking decent gains at the start of the week, advancing to three-day highs near 1.3670 and building on Friday’s solid performance. The better tone in the British Pound comes on the back of the intense sekk-off in the Greenback and despite re-emerging signs of a fresh government crisis in the UK.

Gold treads water around $5,000

Gold is trading in an inconclusive fashion around the key $5,000 mark on Monday week. Support is coming from fresh signs of further buying from the PBoC, while expectations that the Fed could turn more dovish, alongside concerns over its independence, keep the demand for the precious metal running.

Crypto Today: Bitcoin steadies around $70,000, Ethereum and XRP remain under pressure

Bitcoin hovers around $70,000, up near 15% from last week's low of $60,000 despite low retail demand. Ethereum delicately holds $2,000 support as weak technicals weigh amid declining futures Open Interest. XRP seeks support above $1.40 after facing rejection at $1.54 during the previous week's sharp rebound.

Japanese PM Takaichi nabs unprecedented victory – US data eyed this week

I do not think I would be exaggerating to say that Japanese Prime Minister Sanae Takaichi’s snap general election gamble paid off over the weekend – and then some. This secured the Liberal Democratic Party (LDP) an unprecedented mandate just three months into her tenure.

Ripple exposed to volatility amid low retail interest, modest fund inflows

Ripple (XRP) is extending its intraday decline to around $1.40 at the time of writing on Monday amid growing pressure from the retail market and risk-off sentiment that continues to keep investors on the sidelines.