EURUSD setting bearish despite rising German sales
Technical Analysis Summary EUR/USD: Sell
Indicator | Value | Signal |
RSI | Neutral | |
MACD | Sell | |
Donchian Channel | Neutral | |
MA(200) | Buy | |
Fractals | Neutral | |
Parabolic SAR | Sell |
Chart Analysis
On 1-hour timeframe EURUSD: H1 is retracing down toward the 200-period moving average MA(200) which is rising. We believe the bearish movement will continue after the price breaches below the lower bound of the Donchian channel at 1.2041. 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 1.2087. After placing the order, the stop loss is to be moved to the next fractal high , 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 retail sales rose in November more than expected. Will the EURUSD advance continue?
Germany’s retail sales rose in November more than expected: retail sales rose 2.6% over month after 1.9 % decline in October when an increase of 1.3% was forecast. This is bullish for EURUSD but the technical setup is bearish for the pair.