EURUSD forecast bullish after euro area producer prices data
Technical Analysis Summary EUR/USD: Buy
| Indicator | Value | Signal |
| RSI | Neutral | |
| MACD | Buy | |
| Donchian Channel | Buy | |
| 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) after hitting a weekly low two days ago. We believe the bullish momentum will resume after the price breaches above the upper bound of the Donchian channel at 1.1338. 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 1.1306. 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 -
Euro-zone producer prices continued to rise in October. Will the EURUSD price continue rebounding?
Euro-zone producer prices continued to rise in October. The statistics office Eurostat reported Producer Price Index (PPI) rose 5.4% over month in October after 2.8% gain in September when a 3.6% increase was forecast. This is bullish for EURUSD.