EURUSD forecast bullish after strong German ZEW report
Technical Analysis Summary EUR/USD: Buy
| Indicator | Nilai | Signal |
| Donchian Channel | Buy | |
| MA(200) | Buy | |
| Fractals | Neutral | |
| Parabolic SAR | Buy | |
| On Balance Volume | Sell |
Chart Analysis
The EURUSD technical analysis of the price chart on 1-hour timeframe shows EURUSD: H1 is rebounding above the 200-period moving average MA(200) which is rising. We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian channel at 1.2181. 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 1.2122. 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 -
German investor sentiment improved strongly in May. Will the EURUSD continue rebounding?
German investor sentiment improved strongly in May. The ZEW survey results showed German ZEW economic sentiment index f rose to 84.4 for May from 70.7 in April, when an increase to 72 was expected. This is bullish for EURUSD.