EURUSD bias bearish despite recovering German consumer confidence
Technical Analysis Summary EUR/USD: Sell
| Indicator | Value | Signal |
| RSI | Neutral | |
| MACD | Sell | |
| Donchian Channel | Sell | |
| MA(200) | Sell | |
| Fractals | Sell | |
| Parabolic SAR | Sell |
Chart Analysis
On 1-hour timeframe EURUSD: H1 has been falling below the 200-period moving average MA(200) which is falling itself. We believe the bearish movement will continue after the price breaches below the lower bound of the Donchian channel at 1.1214. 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 1.1259. 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 -
Consumer confidence in Germany continued to recover in June. Will the EURUSD reverse its falling?
Consumer confidence in Germany continued to recover in June: German GfK consumer climate index rose to -9.6 in June from -18.6 in May, when a recovery to -11.7 was expected. This is bullish for EURUSD, but the pair is still falling.