EURUSD Analysis: Smaller than estimated euro-zone GDP contraction bullish for EURUSD

June 10, 2020

By IFCMarkets

Smaller than estimated euro-zone GDP contraction bullish for EURUSD

Euro-zone Q1 GDP contraction was revised downward: euro-zone economy shrank by 3.6% on quarter in the first three months of 2020, after a second estimate of a 3.8% contraction and following a 0.1% Q4 growth. This is bullish for EURUSD.

IndicatorVALUESignal
RSINeutral
MACDNeutral
Donchian ChannelBuy
MA(200)Buy
FractalsNeutral
Parabolic SARBuy

 

Summary of technical analysis

OrderBuy
Buy stopAbove 1.1375
Stop lossBelow 1.1336

Market Analysis provided by IFCMarkets