Continuing decline in euro-zone retail sales bearish for EURUSD
Technical Analysis Summary EUR/USD: Sell
| Indicator | Value | Signal |
| RSI | Neutral | |
| MACD | Sell | |
| Donchian Channel | Sell | |
| MA(200) | Buy | |
| Fractals | Sell | |
| Parabolic SAR | Sell |
Chart Analysis
On 1-hour timeframe EURUSD: H1 is declining toward the 200-period moving average MA(200) which is rising. We believe the bearish movement will continue after the price breaches below the lower bound of the Donchian channel at 1.1194. 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 1.1222. After placing the order, the stop loss is to be moved to the next fractal high, 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 retail sales fell in April. Will the EURUSD continue falling?
Euro-zone retail sales continued to fall in April: retail sales dropped 11.7% over month after 11.1% decline in March. This is bearish for EURUSD.