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EUR USD Technical Analysis - EUR USD Trading: 2024-08-13
EUR/USD Technical Analysis Summary
Above 1.09405
Buy Stop
Below 1.09096
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| Donchian Channel | Buy |
| MA(200) | Buy |
| Fractals | Buy |
| Parabolic SAR | Buy |
EUR/USD Chart Analysis
EUR/USD Technical Analysis
The technical analysis of the EURUSD price chart on 4-hour timeframe shows EURUSD,H4 is retracing up after hitting ten-day low a week ago. The 200-period moving average MA(200) is rising. We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian channel at 1.09405. 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 1.09096. 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.
Fundamental Analysis of Forex - EUR/USD
German wholesale prices rose in July. Will the EURUSD price rebounding persist?
German wholesale prices rose in July. The federal statistics office Destatis reported German Wholesale Prices Index (WPI) rose 0.3% over month after 0.3% decline in June when an increase to 0.2% was forecast. Higher producer prices in the largest economy in euro area are bullish for EURUSD. At the same time wholesale prices were 0.1% lower than in July 2023. The year-on-year rate of deflation decelerated from -0.6% in June and -0.7% in May. Lower prices of chemical products (-8.4%), which declined by 0.4% compared with June 2024, were primarily responsible for the year-on-year decline in German wholesale prices.
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