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Technical Analysis EURUSD : 2021-01-19

Recommendation for EUR/USD:

Strong SellSellNeutralBuyStrong Buy

Above 1.2135

Buy Stop

Below 1.2085

Stop Loss

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Senior Analytical Expert
Articles 1733
RSI Sell
Donchian Channel Neutral
MA(200) Sell
Fractals Buy
Parabolic SAR Buy

Chart Analysis

IFC Markets Tech Analysis

The EURUSD technical analysis of the price chart on 1-hour timeframe shows 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 1.2135. 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 1.2085. 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

Economic sentiment indicator for Germany for January came in better than expected. Will the EURUSD rebound continue?

Economic sentiment indicator for Germany for January came in better than expected: – the ZEW economic sentiment index came in at 61.8 after 55 for December when a reading of 55.1 was forecast. Readings above 0.0 indicate optimism, below indicates pessimism. This is bullish for EURUSD.

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