EURUSD Analysis: EURUSD falling despite improved business sentiment in Germany

April 21, 2020

By IFCMarkets

EURUSD falling despite improved business sentiment in Germany

ZEW sentiment in Germany improved in April: the ZEW indicator of economic sentiment rose to 28.2 after hitting negative 49.5 in March, when a -40 was expected. This is a positive development but the technical setup is bearish for EURUSD.

IndicatorVALUESignal
RSINeutral
MACDSell
Donchian ChannelSell
MA(200)Sell
FractalsSell
Parabolic SARSell

 

Summary of technical analysis

OrderSell
Buy stopBelow 1.0820
Stop lossAbove 1.0857

Market Analysis provided by IFCMarkets