EURUSD forecast bullish after strong euro-zone industrial output report
Technical Analysis Summary EUR/USD: Buy
| Indicator | VALUE | Signal |
| MACD | Buy | |
| Donchian Channel | Buy | |
| MA(200) | Sell | |
| Fractals | Neutrální | |
| Parabolic SAR | Buy | |
| On Balance Volume | Neutrální |
Chart Analysis
The EURUSD technical analysis of the price chart on 1-hour timeframe shows EURUSD: H1 is rising to test the 200-period moving average MA(200) which is declining still. We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian channel at 1.2129. 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 1.2093. After placing the order, the stop loss is to be moved to the next fractal low, 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.
Fundamentální analýza -
Euro-zone industrial production rose in April. Will the EURUSD resume rebounding?
Euro-zone industrial production rose in April : the euro area statistical office Eurostat reported euro-zone industrial output rose 0.8% over month in April after 0.4% gain in March, when a steady 0.4% increase was expected. This is bullish for EURUSD