EURUSD rising despite deteriorated German sentiment
Technical Analysis Summary EUR/USD: Buy
| Indicator | Value | Signal |
| RSI | Neutral | |
| MACD | Buy | |
| Donchian Channel | Buy | |
| MA(200) | Buy | |
| Fractals | Buy | |
| Parabolic SAR | Buy |
Chart Analysis
On 1-hour timeframe EURUSD: H1 has breached above 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 1.0965. 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 1.0891. After placing the order, the stop loss is to be moved to the next fractal low, 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 business sentiment deteriorated sharply in March. Will the EURUSD reverse its climbing?
Germany’s business sentiment deteriorated sharply in March as evidenced by the Ifo institute’s final survey results: Ifo’s business climate index slumped to 86.1 from 96.0 in February, when a drop to 87.9 was expected. Despite deteriorating German business sentiment report EURUSD setup is bullish.