Rising euro-zone current account surplus bullish for EURUSD
Technical Analysis Summary EUR/USD: Buy
| Indicator | Value | Signal |
| RSI | Neutral | |
| MACD | Buy | |
| Donchian Channel | Neutral | |
| MA(200) | Sell | |
| Fractals | Buy | |
| Parabolic SAR | Buy |
Chart Analysis
On 1-hour timeframe EURUSD: H1 is retracing higher toward the 200-period moving average MA(200) which is falling itself. We believe the bullish movement will continue after the price breaches above the upper bound of the Donchian channel at 1.0802. 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 1.0666. 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.
Fundamental Analysis of -
Euro-zone current account surplus rose in January. Will the EURUSD resume climbing?
Euro-zone current account surplus rose in January to 34.7 billion euro from 32.6 billion in December, when a drop to 30.3 billion was expected. This is bullish for EURUSD.