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.
| Indicator | VALUE | Signal |
|---|---|---|
| RSI | Neutral | |
| MACD | Neutral | |
| Donchian Channel | Buy | |
| MA(200) | Buy | |
| Fractals | Neutral | |
| Parabolic SAR | Buy |
Summary of technical analysis
| Order | Buy |
| Buy stop | Above 1.1375 |
| Stop loss | Below 1.1336 |
Market Analysis provided by IFCMarkets
