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EUR/USD Technical Analysis - EUR/USD Trading: 2021-09-23

EUR/USD Technical Analysis Summary

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Strong SellSellNeutralBuyStrong Buy

Above 1.1732

Buy Stop

Below 1.1702

Stop Loss

Ara Zohrabian
Senior Analytical Expert
Articles 1877
IndicatorValueSignal
RSI Buy
MACD Buy
Donchian Channel Buy
MA(200) Sell
Fractals Buy
Parabolic SAR Buy

EUR/USD Chart Analysis

EUR/USD Chart Analysis

EUR/USD Technical Analysis

The technical analysis of the EURUSD price chart on 1-hour timeframe shows EURUSD: H1 is attempting to rebound toward the 200-period moving average MA(200) after hitting a 30-day low. And the RSI indicator has formed a bullish divergence. We believe the bullish momentum will resume after the price breaches above the upper bound of the Donchian channel at 1.1732. 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 1.1702. 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 of Forex - EUR/USD

German manufacturing sector expansion slowed in September. Will the EURUSD price resume retreating?

German manufacturing sector expansion slowed in September. Markit reported German flash Manufacturing PMI declined to 58.5 in September from 62.6 a month ago, when a decline to 61.3 was forecast. Readings above 50.0 indicate industry expansion, below indicate contraction. This is bearish for EURUSD. However current technical setup is bullish for the EURUSD pair.

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