EURUSD forecast bearish after German business sentiment report
Technical Analysis Summary EUR/USD: Sell
| Indicator | Value | Signal |
| RSI | Neutral | |
| MACD | Sell | |
| Donchian Channel | Neutral | |
| MA(200) | Sell | |
| Fractals | Sell | |
| Parabolic SAR | Sell |
Chart Analysis
The technical analysis of the EURUSD price chart on 1-hour timeframe shows EURUSD: H1 is retreating after three failed attempts to breach over the resistance line. The 200-period moving average MA(200) is falling. We believe the bearish momentum will continue after the price breaches below the lower bound of the Donchian channel at 1.1202. 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 1.1254. 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 business sentiment declined again in November. Will the EURUSD price continue retreating?
Germany’s business sentiment declined again in November. The ifo Institute reported German ifo Business Climate Index declined to 96.5 from 97.7 in October when a decline to 96.8 was forecast. This is bearish for EURUSD.