EURUSD forecast bearish after euro area trade surplus miss
Technical Analysis Summary EUR/USD: Sell
| Indicator | Value | Signal |
| RSI | Neutral | |
| MACD | Sell | |
| Donchian Channel | Sell | |
| MA(200) | Buy | |
| Fractals | Neutral | |
| Parabolic SAR | Sell |
Chart Analysis
The EURUSD technical analysis of the price chart on 1-hour timeframe shows EURUSD: H1 is retracing lower toward the 200-period moving average MA(200) which is rising still. We believe the bearish movement will continue after the price breaches below the lower bound of the Donchian channel at 1.1441. 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 1.1483. 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 trade surplus turned into deficit in November. Will the EURUSD price retreat continue?
Euro-zone’s trade surplus turned into deficit in November: the euro area statistics office Eurostat reported euro zone trade surplus of 1.8 billion euro in October turned into a 1.3 billion deficit in November, when an decrease to 1.5 billion was forecast. This is bearish for EURUSD.