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EUR USD Technical Analysis - EUR USD Trading: 2023-07-05
EUR/USD Technical Analysis Summary
Below 1.0835
Sell Stop
Above 1.0941
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Sell |
| Donchian Channel | Neutral |
| MA(200) | Buy |
| Fractals | Sell |
| Parabolic SAR | Sell |
EUR/USD Chart Analysis
EUR/USD Technical Analysis
The technical analysis of the EURUSD price chart on daily timeframe shows EURUSD:Daily is retreating after hitting two-month high two weeks ago. The 200-day moving average MA(200) is rising still. We believe the bearish momentum will continue after the price breaches below the lower bound of the Donchian channel at 1.0835. A level below this can be used as an entry point for placing a pending order to sell. The stop loss can be placed below 1.0941. 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 of Forex - EUR/USD
German trade surplus declined in May. Will the EURUSD price retreating continue?
German trade surplus decreased in May. The federal statistics office Destatis reported German trade surplus declined to 14.4 billion euro in May from 16.5 billion in April, when an increase to 17.3 billion euro was expected. This is bearish for EURUSD. German exports were down 0.1% and imports were up 1.7% on a calendar and seasonally adjusted basis compared with April 2023. Trade data showed also that exports decreased by 0.7% and imports fell by 8.6% compared with May 2022. After calendar and seasonal adjustment, the total value of Germany’s exported goods in May 2023 amounted to 130.5 billion euros and of imported goods - 116.1 billion euros.
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