EURUSD Analysis: EURUSD rising despite deteriorated German sentiment

March 26, 2020

By IFCMarkets

EURUSD rising despite deteriorated German sentiment

Germany’s business sentiment deteriorated sharply in March as evidenced by the Ifo institute’s final survey results: Ifo’s business climate index slumped to 86.1 from 96.0 in February, when a drop to 87.9 was expected. Despite deteriorating German business sentiment report EURUSD setup is bullish.

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

 

Summary of technical analysis

OrderBuy
Buy stopAbove 1.0965
Stop lossBelow 1.0891

Market Analysis provided by IFCMarkets