EURUSD forecast bearish after disappointing euro area sales data
Technical Analysis Summary EUR/USD: Sell
| Indicator | Value | Signal |
| RSI | Neutral | |
| MACD | Sell | |
| Donchian Channel | Neutral | |
| MA(200) | Sell | |
| Fractals | Sell | |
| Parabolic SAR | Sell |
Chart Analysis
The EURUSD technical analysis of the price chart on 1-hour timeframe shows EURUSD: H1 is retracing lower after hitting 6-day high a day ago. We believe the bearish movement will continue after the price breaches below the lower bound of the Donchian channel at 1.2026. 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 1.2062. 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’s retail sales fell in January. Will the EURUSD retreat continue ?
Euro-zone’s retail sales fell in January: the euro-zone statistics bureau Eurostat reported retail sales in the singe currency zone fell 5.9% over month in January after 1.8% increase in December, when a 1.4% decline was forecast. This is bearish for EURUSD.