EURUSD forecast bullish after current account surplus surprise
Technical Analysis Summary EUR/USD: Buy
| Indicator | Value | Signal |
| RSI | Neutral | |
| MACD | Buy | |
| Donchian Channel | Buy | |
| MA(200) | Sell | |
| Fractals | Neutral | |
| Parabolic SAR | Buy |
Chart Analysis
The technical analysis of the EURUSD price chart on 1-hour timeframe shows EURUSD: H1 is retracing up toward the 200-period moving average MA(200) which is rising. We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian channel at 1.1349. 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 1.1318. 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 -
Euro zone current account surplus rose in November. Will the EURUSD price continue rebounding?
Euro zone current account surplus rose in November. The European Central Bank reported euro zone current account surplus rose to 23.6 billion euro in November from 19.4 billion in October, when an increase to 20.3 billion was expected. This is bullish for EURUSD.