Recovering Ifo index bullish for EURUSD
Technical Analysis Summary EUR/USD: Buy
| Indicator | Value | Signal |
| RSI | Neutral | |
| MACD | Buy | |
| Donchian Channel | Sell | |
| MA(200) | Buy | |
| Fractals | Neutral | |
| Parabolic SAR | Buy |
Chart Analysis
On 1-hour timeframe EURUSD: H1 is has closed above the 200-period moving average MA(200) which has levelled off. We believe the bullish movement will continue after the price breaches above the upper bound of the Donchian channel at 1.0903. 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 1.0871. 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 recovered in May. Will the EURUSD rebound continue?
Ifo’s business climate index for Germany recovered in May: the index rose from 74.2 points in April to 79.5 points in May, when an increase to 78.3 was expected. This is bullish for EURUSD.