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EUR USD Technical Analysis - EUR USD Trading: 2021-02-02
EUR/USD Technical Analysis Summary
Below 1.2028
Sell Stop
Above 1.2086
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 EURUSD technical analysis of the price chart on 1-hour timeframe shows EURUSD: H1 is falling under the 200-period moving average MA(200) which has leveled off. We believe the bearish movement will continue after the price breaches below the lower bound of the Donchian channel at 1.2028. 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 1.2086. 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 gross domestic product fell less than expected. Will the EURUSD retreat continue?
German gross domestic product fell less than expected: the euro-zone statistics bureau Eurostat reported Q4 GDP fell 0.7% over quarter after 12.5% increase in previous period, when a 0.9% decline was forecast. This is bullish for EURUSD. However EURUSD current setup is bearish.
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