EURUSD Forecast | EURUSD bias bearish despite recovering German consumer confidence | IFCM New Zealand

Technical Analysis EURUSD : 2020-06-25

Recommendation for EUR/USD:

Strong SellSellNeutralBuyStrong Buy

Below 1.1214

Sell Stop

Above 1.1259

Stop Loss

Expert Avatar
Senior Analytical Expert
Articles 1559
RSI Neutral
Donchian Channel Sell
MA(200) Sell
Fractals Sell
Parabolic SAR Sell

Chart Analysis

IFC Markets Tech Analysis

On 1-hour timeframe EURUSD: H1 has been falling below the 200-period moving average MA(200) which is falling itself. We believe the bearish movement will continue after the price breaches below the lower bound of the Donchian channel at 1.1214. 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 1.1259. After placing the order, the stop loss is to be moved to the next fractal high, 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

Consumer confidence in Germany continued to recover in June. Will the EURUSD reverse its falling?

Consumer confidence in Germany continued to recover in June: German GfK consumer climate index rose to -9.6 in June from -18.6 in May, when a recovery to -11.7 was expected. This is bullish for EURUSD, but the pair is still falling.

Start trading with IFC Markets

We are ready to support you with any kind of questions, 24 hours a day.

Note: This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.