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EUR/USD Technical Analysis - EUR/USD Trading: 2023-08-18
EUR/USD Technical Analysis Summary
Below 1.0856
Sell Stop
Above 1.1064
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Sell |
| Donchian Channel | Neutral |
| MA(200) | Buy |
| Fractals | Neutral |
| 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 eighteen month high four 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 1.0856. 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 1.1064. 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
Euro area trade surplus rose in June. Will the EURUSD price retreating reverse?
Euro area trade surplus continued rising in June. Eurostat reported euro zone international trade in goods surplus rose to 12.5 billion euro in June from upwardly revised 0.2 billion in May, when an increase to 3.8 billion euro was expected. This is the result of increase of 0.3% in euro area exports of goods to the rest of the world in June 2023 compared with June 2022 (€251.5 bn) and a fall of 17.7% compared with June 2022 (€278.5 bn) in imports from the rest of the world at €229.3 bn. This is bullish for EURUSD. However, the current setup is bearish for the pair.
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