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EUR/USD Technical Analysis - EUR/USD Trading: 2024-07-02
EUR/USD Technical Analysis Summary
Below 1.07145
Sell Stop
Above 1.07688
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Sell |
| Donchian Channel | Neutral |
| MA(200) | Buy |
| Fractals | Neutral |
| 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 is retracing down toward the 200-period moving average MA(200) after hitting three-week high yesterday. We believe the bearish momentum will continue after the price breaches below the lower bound of the Donchian channel at 1.07145. 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 1.07688. 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 consumer inflation growth stalled in June. Will the EURUSD price retreating continue?
German consumer inflation growth stalled in June: Federal statistics office Destatis reported German consumer prices index growth remained at 0.1% over month in June when an uptick to 0.2% was forecast. Energy prices in June were 2.1% lower than in the same month a year earlier. At the same time the increase in food prices accelerated to 1.1% over year from 0.6% in June. The inflation rate excluding food and energy, referred to as core inflation, slowed to 2.9% from 3.0% in May. Slower than expected consumer inflation in the largest euro zone economy is bearish for euro and EURUSD.
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