By IFCMarkets
EURUSD rising despite drop in Ifo business sentiment index
Business sentiment in Germany deteriorated more than expected in April: the IFo business climate index dropped to 74.3 in April, after declining to 85.9 in March, when a drop to 79.8 was forecast. This is bearish for EURUSD but the technical setup is bullish for the pair.
Indicator | VALUE | Signal |
---|---|---|
RSI | Neutral | |
MACD | Buy | |
Donchian Channel | Buy | |
MA(200) | Sell | |
Fractals | Buy | |
Parabolic SAR | Sell |
Summary of technical analysis
Order | Buy |
Buy stop | Above 1.0860 |
Stop loss | Below 1.0820 |
Market Analysis provided by IFCMarkets