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EUR/USD Technical Analysis - EUR/USD Trading: 2024-02-13
EUR/USD Technical Analysis Summary
Below 1.0722
Sell Stop
Above 1.0864
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Neutral |
| Donchian Channel | Neutral |
| MA(200) | Sell |
| Fractals | Sell |
| Parabolic SAR | Sell |
EUR/USD Chart Analysis
EUR/USD Technical Analysis
The technical analysis of the EURUSD price chart on daily timeframe shows EURUSD,Daily is retreating after breaching below the 200-day moving average MA(200) ten days ago. We believe the bearish momentum will continue after the price breaches below the lower bound of the Donchian channel at 1.0722. 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 1.0864. 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 Forex - EUR/USD
German industrial output continued contracting in December. Will the EURUSD price retreating persist?
German industrial production accelerated its contraction in December. The federal statistical office Destatis reported German Industrial Production fell 1.6% over moth in December after 0.2% decline in November, when an 0.4% decrease was expected. In a less volatile three-month comparison production dynamics was also negative: industrial output from October to December 2023 was 1.8% lower than in the previous three months. Annual production also contracted: in 2023 as a whole, production was 1.5% lower than in 2022. Falling industrial output in the largest economy of euro area is bearish for euro and hence for EURUSD.
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