{"id":171158,"date":"2020-05-27T07:50:10","date_gmt":"2020-05-27T11:50:10","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=171158"},"modified":"2020-05-27T07:44:53","modified_gmt":"2020-05-27T11:44:53","slug":"eu50-analysis-better-than-forecast-euro-area-data-bullish-for-eu50","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/05\/eu50-analysis-better-than-forecast-euro-area-data-bullish-for-eu50\/","title":{"rendered":"EU50 Analysis: Better than forecast euro area data bullish for EU50"},"content":{"rendered":"
May 27, 2020<\/div>
\r\n<\/div><\/div>

By IFCMarkets<\/a><\/strong><\/p>\n

Better than forecast euro area data bullish for EU50<\/strong><\/p>\n

Euro area economic data in the last couple of weeks were not as bad as feared: contraction in private business sector activities slowed in May, investor morale improved further and consumer confidence improved more than expected. Markit\u2019s Composite PMI for euro-zone went up to 30.5 in May 2020 from 13.6 in April when a reading of 25 was expected, according to preliminary estimate. Readings above 50 indicate activities expansion, below indicate contraction. The ZEW indicator of economic sentiment for the euro-zone rose from 25.2 in April to 46 in May, the highest reading since August 2015. And Eurostat survey results showed the consumer confidence index in euro-zone rose from the previous month’s 11-year low -22 to -18.8 in May, when a reading of -24.0 was forecast. Readings above 0 indicate optimism, below indicate pessimism. Better data are bullish for EU50. Nevertheless, further deterioration of euro-zone\u2019s economic performance is a downside risk: Eurostat is due to report the change in business confidence for euro area on Thursday, and a steeper than forecast deterioration is a downside risk for EU50.<\/p>\n\n\n\n\n\n\n\n\n\n\n
Indicator<\/th>\nVALUE<\/th>\nSignal<\/th>\n<\/tr>\n<\/thead>\n
RSI<\/td>\n<\/td>\nNeutral<\/td>\n<\/tr>\n
MACD<\/td>\n<\/td>\nBuy<\/td>\n<\/tr>\n
Donchian Channel<\/td>\n<\/td>\nNeutral<\/td>\n<\/tr>\n
MA(50)<\/td>\n<\/td>\nBuy<\/td>\n<\/tr>\n
Fractals<\/td>\n<\/td>\nBuy<\/td>\n<\/tr>\n
Parabolic SAR<\/td>\n<\/td>\nBuy<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

Summary of technical analysis<\/h2>\n\n\n\n\n\n
Order<\/b><\/td>\nBuy<\/td>\n<\/tr>\n
Buy stop<\/b><\/td>\nAbove 3017.32<\/td>\n<\/tr>\n
Stop loss<\/b><\/td>\nBelow 2696.91<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Market Analysis provided by IFCMarkets<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

By IFCMarkets Better than forecast euro area data bullish for EU50 Euro area economic data in the last couple of weeks were not as bad as feared: contraction in private business sector activities slowed in May, investor morale improved further and consumer confidence improved more than expected. Markit\u2019s Composite PMI for euro-zone went up to […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-171158","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/171158","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=171158"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/171158\/revisions"}],"predecessor-version":[{"id":171167,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/171158\/revisions\/171167"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=171158"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=171158"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=171158"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}