EURUSD forecast bearish after German sales report
Technical Analysis Summary EUR/USD: Sell
| Indicator | Value | Signal |
| MACD | Sell | |
| Donchian Channel | Neutral | |
| MA(200) | Sell | |
| Fractals | Neutral | |
| Parabolic SAR | Buy | |
| On Balance Volume | Neutral |
Chart Analysis
The EURUSD technical analysis of the price chart on 1-hour timeframe shows EURUSD: H1 has fallen 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 1.1767. 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 1.1785. After placing the order, the stop loss is to be moved to the next fractal high 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 -
Germany’s retail sales fell more than forecast in February. Will the EURUSD retreat resume ?
Germany’s retail sales fell more than forecast in February: the federal statistics agency Destatis reported German retail sales fell 9% over year in February after 9.3% drop in January, when a 6.3% decrease was forecast. This is bearish for EURUSD.