Technical Analysis EURUSD : 2021-03-18

[IFC Markets]

Recommendation for EUR/USD:Sell​

Sell Stop ։ Below 1.1935

Stop Loss ։ Above 1.1988



MACD ։ Sell

Donchian Channel ։ Neutral

MA(200) : Buy

Fractals : Neutral

Parabolic SAR : Sell

On Balance Volume : Neutral

Chart Analysis​

The EURUSD technical analysis of the price chart on 1-hour timeframe shows EURUSD: H1 is falling to 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 1.1935. 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 1.1988. 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​

Euro-zone’s trade surplus fell in January. Will the EURUSD rebound reverse? Euro-zone’s trade surplus fell in January: the statistics office Eurostat reported euro area trade surplus declined to 24.2 billion euro in Jauary from 27.5 billion in December, when an increase to 28.8 billion was expected. This is bearish for EURUSD.