fbEURUSD Forecast | EURUSD forecast bearish after euro-zone trade surplus miss | IFCM India

Technical Analysis EURUSD : 2021-06-15

Recommendation for EUR/USD:

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Strong SellSellNeutralBuyStrong Buy

Below 1.2100

Sell Stop

Above 1.2147

Stop Loss

Ara Zohrabian
Senior Analytical Expert
Articles 1862
Donchian Channel Neutral
MA(200) Sell
Fractals Neutral
Parabolic SAR Sell
On Balance Volume Neutral

Chart Analysis

IFC Markets Tech Analysis

The EURUSD technical analysis of the price chart on 1-hour timeframe shows EURUSD: H1 has fallen below the 200-period moving average MA(200) which is falling itself. We believe the bearish movement will continue after the price breaches below the lower bound of the Donchian channel at 1.2100. 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 1.2147. 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

Euro-zone’s trade surplus fell in April. Will the EURUSD retreat resume?

Euro-zone’s trade surplus fell in April: the euro area statistics office Eurostat reported euro zone trade surplus fell to 9.4 billion euro in April after 18.3 billion in March, when an decrease to 14.9 billion was forecast. This is bearish for EURUSD.

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