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EUR/USD Technical Analysis - EUR/USD Trading: 2023-09-25
EUR/USD Technical Analysis Summary
Below 1.0614
Sell Stop
Above 1.0736
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 declining after returning under the 200-day moving average MA(200) which has leveled off. We believe the bearish momentum will continue after the price breaches below the lower bound of the Donchian channel at 1.0614. 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 1.0736. 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
Euro area private sector contraction continued in September. Will the EURUSD price continue retreating?
Euro area private sector contraction continued at the end of the third quarter. SP Global report showed the flash reading of Eurozone Composite PMI Output Index came in at 47.1 in January after the 46.7 reading for August. Readings above 50.0 indicate industry expansion, below indicate contraction. For the second successive month, declines in output were seen across both manufacturing and service sectors as services activity decreased again. The overall reduction in output was again led by manufacturing against the background of waning demand as indicated by a fourth successive monthly decrease in new orders. Output in private euro zone sector has now fallen in four consecutive months. Falling business activity in euro area is bearish for EURUSD.
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