EURUSD forecast bullish after German GfK sentiment update
Technical Analysis Summary EUR/USD: Buy
| Indicator | VALUE | Signal |
| RSI | Sell | |
| MACD | Buy | |
| Donchian Channel | Neutral | |
| MA(200) | Buy | |
| Fractals | Buy | |
| Parabolic SAR | Buy |
Chart Analysis
The EURUSD technical analysis of the price chart on 1-hour timeframe shows EURUSD: H1 is rallying above the 200-period moving average MA(200) which is declining. We believe the bullish movement will continue after the price breaches above the upper bound of the Donchian channel at 1.2235. 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 1.2155. After placing the order, the stop loss is to be moved to the next fractal low 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.
Fundamentale Analyse -
Germany’s GfK sentiment recovered slightly. Will the EURUSD rebound continue?
Germany’s GfK sentiment recovered slightly: Germany's largest market research institute GfK forecasts a decrease of 12.9 points in consumer sentiment for March 2021, up 2.6 points from February this year. This is bullish for EURUSD.