Recommendation for EUR/USD:Sell
Sell Stop : Below 1.2076
Stop Loss : Above 1.2116
MACD : Sell
Donchian Channel : Sell
MA(200) : Buy
Fractals : Sell
Parabolic SAR : Sell
On Balance Volume : Buy
Chart Analysis
The EURUSD technical analysis of the price chart on 1-hour timeframe shows EURUSD: H1 is declining toward the 200-period moving average MA(200) which is rising. We believe the bearish movement will continue after the price breaches below the lower bound of the Donchian channel at 1.2076. A level below this can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 1. 2116. After placing the order, the stop loss is to be moved to the next fractal high indicator, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
