EURUSD Forecast | Falling euro zone current account surplus bearish for EURUSD | IFCM

Technical Analysis EURUSD : 2020-01-17

Recommendation for EUR/USD:

Sell
Strong SellSellNeutralBuyStrong Buy

Below 1.1115

Sell Stop

Above 1.1135

Stop Loss

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Senior Analytical Expert
Articles 1554
IndicatorValueSignal
RSI Neutral
Parabolic SAR Sell
Fractals Sell
MA(200) Sell
Donchian Channel Sell

Chart Analysis

IFC Markets Tech Analysis

We believe the bearish momentum will resume after the price breaches below the lower boundary of Donchian channel at 1.1115.

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 1.1125. After placing the order, the stop loss is to be moved every day 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

In the 12-month period to November 2019, the current account in euro-zone declined to a surplus of €357 billion from €367 billion in the 12 months to November 2018. Will the EURUSD continue declining?

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