Easing of euro-zone manufacturing downturn bullish for EURUSD
Technical Analysis Summary EUR/USD: Buy
| Indicator | Value | Signal |
| RSI | Neutral | |
| MACD | Buy | |
| Donchian Channel | Neutral | |
| MA(200) | Buy | |
| Fractals | Buy | |
| Parabolic SAR | Buy |
Chart Analysis
On 1-hour timeframe EURUSD: H1 is rising above the 200-period moving average MA(200) which is rising itself. We believe the bullish movement will continue after the price breaches above the upper bound of the Donchian channel at 1.1003. 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 1.0952. 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 -
Euro-zone’s manufacturing activity contraction slowed in May. Will the EURUSD rebound continue?
Euro-zone’s manufacturing activity contraction slowed in May: Markit reported Manufacturing PMI rose to 39.5 from 33.4 in April, when an increase to 38 was expected. Readings above 50.0 indicate industry expansion, below indicate contraction. This is bullish for EURUSD.