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.

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