Better than expected Euro-zone’s manufacturing PMI bullish for EURUSD
Technical Analysis Summary EUR/USD: Buy
| Indicator | Value | Signal |
| RSI | Neutral | |
| MACD | Buy | |
| Donchian Channel | Neutral | |
| MA(200) | Buy | |
| Fractals | Neutral | |
| Parabolic SAR | Buy |
Chart Analysis
On 1-hour timeframe EURUSD: H1 is retracing higher above the 200-period moving average MA(200) which is rising. We believe the bullish movement will continue after the price breaches above the upper bound of the Donchian channel at 1.1883. 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 1.1862. 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 PMI was bigger than expected. Will the EURUSD rebound continue?
Euro-zone’s manufacturing PMI was bigger than expected: the manufacturing PMI, which reflects the performance of manufacturing sector, came at 53.6 for November after 54.8 for October according to Markit, when a decline to 53.2 was expected. This is bullish for EURUSD.