January 17, 2020
By IFCMarkets
Falling euro zone current account surplus bearish for EURUSD
We believe the bearish momentum will resume after the price breaches below the lower boundary of Donchian channel at 1.1115. 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 1.1125. After placing the order, the stop loss is to be moved every day to the next fractal high, 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.
Summary of technical analysis
Market Analysis provided by IFCMarkets
