EUR/USD technical analysis: Will the EUR/USD price continue retreating?

Dmitry Lukashov IFC Markets

EUR/USD technical analysis summary

Sell Stop: Below 1.1542.

Stop Loss: Above 1.1606.

Indicator	Signal
RSI	Buy
MACD	Sell
Donchian Channel	Sell
MA(200)	Sell
Fractals	Neutral
Parabolic SAR	Sell

EUR/USD chart analysis

The technical analysis of the EURUSD price chart on a 1-hour timeframe shows EURUSD: H1 is retreating after testing the 200-period moving average MA(200) which is falling. We believe the bearish momentum will continue after the price breaches below the lower bound of the Donchian channel at 1.1542. 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 1.1606. 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 canceling the order: the market has undergone internal changes which were not taken into account.

Fundamental analysis of forex – EUR/USD

German factory orders growth was smaller than expected in September. Will the EURUSD price continue retreating?

German factory orders growth was smaller than expected in September. The statistics office Destatis reported German factory orders rose 1.3% over the month in September after an 8.8% drop in August when a 1.7% growth was forecast. This is bearish for EURUSD.

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Author

Dmitry Lukashov

IFC Markets

Dimtry Lukashov is the senior analyst of IFC Markets. He started his professional career in the financial market as a trader interested in stocks and obligations.

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