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EUR/USD Technical Analysis - EUR/USD Trading: 2023-11-23
EUR/USD Technical Analysis Summary
Above 1.0915
Buy Stop
Below 1.0882
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| Donchian Channel | Buy |
| MA(200) | Buy |
| Fractals | Neutral |
| Parabolic SAR | Buy |
EUR/USD Chart Analysis
EUR/USD Technical Analysis
The technical analysis of the EURUSD price chart on 1-hour timeframe shows EURUSD,H1 is retracing up above the 200-period moving average MA(200) after hitting one-week low yesterday. We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian channel at 1.0915. 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 1.0882. After placing the order, the stop loss is to be moved to the next fractal low 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 Forex - EUR/USD
Euro zone consumer sentiment improved in November. Will the EURUSD price rebound persist?
Euro zone consumer sentiment improved in November. The European Union statistics agency Eurostat survey’s flash results showed euro area consumer confidence indicator rose to -17 for November from -18 in October when no change was expected. Readings above 0 indicate optimism, below indicate pessimism. Improving euro area consumer confidence is bullish for EURUSD.
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