EURUSD forecast bullish despite weak Ifo report
Technical Analysis Summary EUR/USD: Buy
| Indicator | Value | Signal |
| MACD | Buy | |
| Donchian Channel | Buy | |
| MA(200) | Sell | |
| Fractals | Buy | |
| Parabolic SAR | Buy | |
| On Balance Volume | Sell |
Chart Analysis
The EURUSD technical analysis of the price chart on 1-hour timeframe shows EURUSD: H1 is rising to test the 200-period moving average MA(200) which is level. We believe the bullish movement will continue after the price breaches above the upper bound of the Donchian channel at 1.1798. 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 1.1765. After placing the order, the stop loss is to be moved to the next fractal low, 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 of -
Ifo’s business climate index for Germany fell for July. Will the EURUSD rebound persist?
Ifo’s business climate index for Germany fell for July: ifo Business Climate Index fell from 101.7 points in June to 100.8 points in July, when an increase to 102.3 was expected. This is bearish for EURUSD. However the technical setup is bullish for the pair.