EURUSD forecast bearish after Sentix December report
Technical Analysis Summary EUR/USD: Sell
| Indicator | Value | Signal |
| RSI | Neutral | |
| MACD | Buy | |
| MA(200) | Buy | |
| Fractals | Sell | |
| Parabolic SAR | Sell | |
| MA(50) | Sell |
Chart Analysis
The technical analysis of the EURUSD price chart on 1-hour timeframe shows EURUSD: H1 has tested the 200-period moving average MA(200) and is attempting to rebound. We believe the bearish movement will continue after the price breaches below the lower bound of the Donchian channel at 1.1274. 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 1.1309. 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 -
Euro zone investors sentiment deteriorated in December. Will the EURUSD price rebound continue?
Euro zone investors’ sentiment deteriorated in December: Sentix reported its investor confidence index declined to 13.5 for December from 18.3 in November, when a decline to 14.5 was forecast. This is bearish for EURUSD.