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EUR/USD Technical Analysis - EUR/USD Trading: 2024-03-14
EUR/USD Technical Analysis Summary
Above 1.098
Buy Stop
Below 1.085
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| Donchian Channel | Neutral |
| MA(200) | Buy |
| Fractals | Buy |
| Parabolic SAR | Buy |
EUR/USD Chart Analysis
EUR/USD Technical Analysis
The technical analysis of the EURUSD price chart on daily timeframe shows EURUSD,Daily is rising as it broke above the 200-day moving average MA(200) following a rebound after hitting six-month low four weeks ago. We believe the bullish momentum will resume after the price breaches above the upper bound of the Donchian channel at 1.098. 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 1.085. After placing the order, the stop loss is to be moved to the next fractal low 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 industrial output reverted to contracting in January. Will the EURUSD price resume retreating?
Euro area industrial output reverted to contracting in January. The statistical office of the European Union – Eurostat, reported that the euro area Industrial Production fell 3.2% over moth in January after 1.6% increase in December, when a 1.8% decline was expected. At the same time, industrial production decreased by 6.7% in the euro area in January compared with January 2023. Among the main industrial groupings capital goods led the declines both for monthly and annual contractions. Falling euro area industrial output is bearish for euro and hence for EURUSD. However, the current setup is bullish for the currency pair.
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