EURUSD Analysis: Easing of euro-zone manufacturing downturn bullish for EURUSD

May 21, 2020

By IFCMarkets

Easing of euro-zone manufacturing downturn bullish for EURUSD

Euro-zone’s manufacturing activity contraction slowed in May: Markit reported Manufacturing PMI rose to 39.5 from 33.4 in April, when an increase to 38 was expected. Readings above 50.0 indicate industry expansion, below indicate contraction. This is bullish for EURUSD.

IndicatorVALUESignal
RSINeutral
MACDBuy
Donchian ChannelNeutral
MA(200)Buy
FractalsBuy
Parabolic SARBuy

 

Summary of technical analysis

OrderBuy
Buy stopAbove 1.1003
Stop lossBelow 1.0952

Market Analysis provided by IFCMarkets