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EUR USD Technical Analysis - EUR USD Trading: 2024-10-03
EUR/USD Technical Analysis Summary
Below 1.10243
Sell Stop
Above 1.10804
Stop Loss
| Indicator | Signal |
| RSI | Buy |
| 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 4-hour timeframe shows EURUSD,H4 is declining after breaching below the 200-period moving average MA(200) following a rebound to one-week high. The RSI indicator has crossed into oversold zone. We believe the bearish momentum will continue after the price breaches below the lower bound of the Donchian channel at 1.10243. 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 1.10804. 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
Euro area consumer inflation slowed in September. Will the EURUSD price retreating continue?
Euro area consumer inflation slowed in September: the euro area statistics office Eurostat reported euro zone headline inflation declined to 1.8% in September down from 2.2% in August and below the European Central Bank’s 2% target. The reading was in line with market expectations, reinforcing bets for a rate cut by ECB this month. The inflation rate excluding food and energy, referred to as core inflation, slowed to 2.7% from 2.8% in August. Slowing consumer inflation in the euro zone economy is bearish for euro and EURUSD currency pair.
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