EURUSD bias bearish after eurozone core inflation slows
Technical Analysis Summary EUR/USD: Sell
| Indicator | Value | Signal |
| RSI | Neutral | |
| MACD | Sell | |
| Donchian Channel | Sell | |
| MA(200) | Sell | |
| Fractals | Neutral | |
| Parabolic SAR | Sell |
Chart Analysis
The technical analysis of the EURUSD price chart on 4-hour timeframe shows EURUSD,H4 resumed falling under the 200-period moving average MA(200) which is declining itself. We believe the bearish momentum will continue after the price breaches below the lower bound of the Donchian channel at 1.0653. 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 1.0721. 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 -
Eurozone core inflation slowed in April. Will the EURUSD price retreating persist?
Eurozone core inflation slowed in April. Eurostat statistics office reported eurozone core inflation declined to 2.7% over year in April from 2.9% in March while a decline to 2.6% was forecast. However energy and unprocessed food prices increase accelerated. At the same time headline inflation remained unchanged at 2.4%. Slowing core prices inflation in euro area is bearish for EURUSD.