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EUR/USD Technical Analysis - EUR/USD Trading: 2023-09-15
EUR/USD Technical Analysis Summary
Below 1.0631
Sell Stop
Above 1.0768
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Sell |
| Donchian Channel | Sell |
| MA(200) | Sell |
| Fractals | Sell |
| Parabolic SAR | Sell |
EUR/USD Chart Analysis
EUR/USD Technical Analysis
The technical analysis of the EURUSD price chart on daily timeframe shows EURUSD,Daily is retreating after hitting nineteen-month high eight weeks ago. The 200-period moving average MA(200) is leveling off. We believe the bearish momentum will continue after the price breaches below the lower bound of the Donchian channel at 1.0631. 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 1.0768. 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 Forex - EUR/USD
German wholesale prices inflation resumed in August. Will the EURUSD price retreating reverse?
German wholesale prices inflation resumed in August. The federal statistics office Destatis reported German WPI index was 0.2% higher than in July. The increase in wholesale prices index resumed in August after 0.2% decline in July while another decline at 0.1% pace was expected. At the same time wholesale prices were 2.7% lower than in August 2022. The year-on-year rate of change decelerated from -2.8% in July 2023. Higher producer prices in the largest economy in euro area are bullish for EURUSD. However the current setup for EURUSD is bearish despite the European Central Bank’s 25 basis point hike of its main rate to 4% yesterday, a 10th consecutive hike.
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