EURUSD bias bullish after German inflation surprise
Technical Analysis Summary EUR/USD: Buy
| Indicator | Value | Signal |
| RSI | Sell | |
| 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 advancing above the 200-period moving average MA(200) which is rising itself. RSI indicator is in overbought zone. We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian channel at 1.0909. 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 1.0823. 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 -
German consumer inflation slowed a bit less than forecast in March. Will the EURUSD price rebound continue?
German consumer inflation slowed a bit less than forecast in March: Federal statistics office Destatis reported German inflation slowed to 7.4% over year in March from 8.7% in February, when a 7.3% increase was expected. This is bullish for EURUSD.