EURUSD forecast bearish despite better than feared German consumer sentiment data
Technical Analysis Summary EUR/USD: Sell
| Indicator | Value | Signal |
| RSI | Buy | |
| MACD | Sell | |
| Donchian Channel | Sell | |
| MA(200) | Sell | |
| Fractals | Sell | |
| Stochastic | Sell |
Chart Analysis
The technical analysis of the EURUSD price chart on 1-hour timeframe shows EURUSD: H1 is falling under the 200-period moving average MA(200) which has tilted downward. We believe the bearish movement will continue after the price breaches below the lower bound of the Donchian channel at 1.1152. A level below this can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 1.1310. 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 -
Germany’s consumer confidence deteriorated slower in January. Will the EURUSD price retreat persist?
Germany’s consumer confidence deteriorated slower in January: the GfK Institute reported German Consumer Climate index reached -6.7 in January from -6.9 in December, when a decline to -7.9 was forecast. This is bullish, however current setup is bearish for EURUSD.