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EUR USD Technical Analysis - EUR USD Trading: 2023-01-31
EUR/USD Technical Analysis Summary
Below 1.0801
Sell Stop
Above 1.0859
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Sell |
| Donchian Channel | Neutral |
| 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 1-hour timeframe shows EURUSD: H1 has broken below the 200-period moving average MA(200) which is rising still. We believe the bearish momentum will continue after the price breaches below the lower bound of the Donchian channel at 1.0801. 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 1.0859. 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 zone fourth quarter GDP data were better than expected. Will the EURUSD price reverse its retreating?
Euro zone fourth quarter GDP data were better than expected. The Eurostat statistical office reported euro area’s gross domestic product (GDP) rose 0.1% in the fourth quarter of 2022 over the third quarter, after rising 0.3% in Q3 when an 0.1% decline was forecast. This is bullish for EURUSD. However current technical setup is bearish for the EURUSD pair.
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