EURUSD forecast bullish despite German retail sales miss
Technical Analysis Summary EUR/USD: Buy
| Indicator | Value | Signal |
| RSI | Neutral | |
| MACD | Sell | |
| Donchian Channel | Neutral | |
| MA(200) | Buy | |
| Fractals | Neutral | |
| Parabolic SAR | Buy |
Chart Analysis
The technical analysis of the EURUSD price chart on 1-hour timeframe shows EURUSD: H1 is attempting to rebound above the 200-period moving average MA(200) which is flat. We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian channel at 1.1359. 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 1.1302. 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 retail sales declined in October when an increase was forecast. Will the EURUSD price decline?
Germany’s retail sales declined in October when an increase was forecast. The federal statistics office Destatis reported retail sales declined 0.3% over month in October after 1.9% drop in September, when a 1% growth was expected. This is bearish for EURUSD. However current setup is bullish for EURUSD.