EUR/USD Technical Analysis | EUR/USD Trading: 2024-02-21 | IFCM UK
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EUR/USD Technical Analysis - EUR/USD Trading: 2024-02-21

EUR/USD Technical Analysis Summary

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Strong SellSellNeutralBuyStrong Buy

Above 1.0840

Buy Stop

Below 1.0761

Stop Loss

Ara Zohrabian
Senior Analytical Expert
Articles 2467
RSI Neutral
Donchian Channel Neutral
MA(200) Sell
Fractals Buy
Parabolic SAR Buy

EUR/USD Chart Analysis

EUR/USD Chart Analysis

EUR/USD Technical Analysis

The technical analysis of the EURUSD price chart on 4-hour timeframe shows EURUSD,H4 is advancing toward the 200-period moving average MA(200) after hitting three-month low a week ago. We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian channel at 1.0840. 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 1.0761. 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 Forex - EUR/USD

Euro area current account surplus rose unexpectedly in December. Will the EURUSD price advancing continue?

Euro area current account surplus resumed growing in December. European Central Bank reported euro zone current account surplus rose to 31.9 billion euro in December from downwardly revised 22.5 billion in November, when a decline to 20.3 billion euro was expected. The increase of the current account surplus was driven by surpluses for goods (€35 billion) and services (€16 billion), while deficits were recorded for secondary income (€13 billion) and primary income (€ 5 billion). Rising euro current account surplus is bullish for EURUSD.

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This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.

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