EURUSD Analysis: EURUSD rising despite drop in Ifo business sentiment index

April 27, 2020

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.

IndicatorVALUESignal
RSINeutral
MACDBuy
Donchian ChannelBuy
MA(200)Sell
FractalsBuy
Parabolic SARSell

 

Summary of technical analysis

OrderBuy
Buy stopAbove 1.0860
Stop lossBelow 1.0820

Market Analysis provided by IFCMarkets