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EUR USD Technical Analysis - EUR USD Trading: 2024-09-25
EUR/USD Technical Analysis Summary
Above 1.11981
Buy Stop
Below 1.11070
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| Donchian Channel | Neutral |
| MA(200) | Buy |
| Fractals | Buy |
| Parabolic SAR | Buy |
EUR/USD Chart Analysis
EUR/USD Technical Analysis
The technical analysis of the EURUSD price chart on 4-hour timeframe shows EURUSD,H4 is retracing lower above the 200-period moving average MA(200) after hitting one-month high today. We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian channel at 1.11981. 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 1.11070. After placing the order, the stop loss is to be moved to the next fractal low , following Parabolic indicator 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 business sentiment continued deteriorating in September. Will the EURUSD price rebounding reverse?
German business sentiment continued deteriorating in September. The Ifo survey results showed German Ifo Business Climate index fell to 85.4 in September from 86.6 in August when a decline to 86.1 was forecast. The index dropped for the fifth consecutive month. Germany's business sentiment softened due to steep decline in current assessment component as well as relatively limited decline in expectations. The weak Ifo data followed disappointing PMI reports of the previous days: Purchasing Managers' Index (PMI) data showed the contraction in German private sector activity deepened in September, according to SP Global. The continuing deterioration of German business sentiment is bearish for EURUSD. However, the technical setup is bullish for the pair.
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