EURUSD forecast bullish despite declining euro-zone trade surplus
Technical Analysis Summary EUR/USD: Buy
| Indicator | Value | Signal |
| MACD | Buy | |
| Donchian Channel | Neutral | |
| MA(200) | Buy | |
| Fractals | Neutral | |
| Parabolic SAR | Buy | |
| On Balance Volume | Sell |
Chart Analysis
The EURUSD technical analysis of the price chart on 1-hour timeframe shows EURUSD: H1 is climbing 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 1.1994. 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 1.1950. 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 -
Euro-zone trade surplus fell in February. Will the EURUSD decline?
Euro-zone trade surplus fell in February: the statistics agency Eurostat reported the trade surplus in single currency area fell to 18.4 billion euro from 24.4 billion in January, when a decline to 21.9 billion was forecast. This is bearish for EURUSD. However, technical setup is bullish for EURUSD.