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EUR USD Technical Analysis - EUR USD Trading: 2024-01-26
EUR/USD Technical Analysis Summary
Above 1.0821
Buy Stop
Below 1.0932
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Sell |
| Donchian Channel | Sell |
| 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 testing the 200-day moving average MA(200) which is tilting down. We believe the bearish momentum will continue after the price breaches below the lower bound of the Donchian channel at 1.0821. 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 1.0932. After placing the order, the stop loss is to be moved to the next fractal high, following Parabolic indicator 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 business sentiment deteriorated in January. Will the EURUSD price retreating continue?
German business sentiment deteriorated in January. The Ifo survey results showed German Ifo Business Climate index fell to 85.2 in January from 86.3 for December when an increase to 86.7 was forecast. The index dropped for the second month in a row after revival of optimism last autumn. The deterioration of German business sentiment is bearish for EURUSD. Meanwhile European Central Bank President Christine Lagarde reaffirmed her remarks that borrowing costs could be lowered from the summer, though insisted officials aren’t yet discussing such a step.
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