fbEURUSD Forecast | German business sentiment improvement bullish for EURUSD | IFCM Turkey

Technical Analysis EURUSD : 2020-07-27

Recommendation for EUR/USD:

Buy
Strong SellSellNeutralBuyStrong Buy

Above 1.1730

Buy Stop

Below 1.1680

Stop Loss

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Senior Analytical Expert
Articles 1574
IndicatorValueSignal
RSI Neutral
MACD Buy
Donchian Channel Neutral
MA(200) Buy
Fractals Buy
Parabolic SAR Buy

Chart Analysis

IFC Markets Tech Analysis

On 1-hour timeframe EURUSD: H1 is rising above the 200-period moving average MA(200) which is rising itself. We believe the bullish movement will continue after the price breaches above the upper bound of the Donchian channel at 1.1730. A level above this can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 1.1680. After placing the order, the stop loss is to be moved to the next fractal low, 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

Germany’s business sentiment improved in July. Will the EURUSD advance continue?

Germany’s business sentiment improved in July: the IfO business climate index rebounded for a third successive month to 90.5 from 86.3 in June, when an increase to 89.2 was expected. This is bullish for EURUSD.

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