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EUR USD Technical Analysis - EUR USD Trading: 2022-03-02
EUR/USD Technical Analysis Summary
Below 1,108
Sell Stop
Above 1,158
Stop Loss
| Indicator | Signal |
| RSI | Sell |
| MACD | Sell |
| MA(200) | Neutral |
| Fractals | Sell |
| Parabolic SAR | Sell |
| Bollinger Bands | Sell |
EUR/USD Chart Analysis
EUR/USD Technical Analysis
On the daily timeframe, EURUSD: D1 has broken down the support line of the parallel channel. A number of technical analysis indicators formed signals for further decline. We do not rule out a bearish movement if EURUSD: D1 falls below the latest low (since June 2020): 1.108. This level can be used as an entry point. Initial risk cap is possible above the last 3 upper fractals, upper Bollinger band, Parabolic signal and 200-day moving average line: 1.158. After opening a pending order, we move the stop following the Bollinger and Parabolic signals to the next fractal high. Thus, we change the potential profit/loss ratio in our favor. The most cautious traders after making a trade can switch to a four-hour chart and set a stop loss, moving it in the direction of movement. If the price overcomes the stop level (1.158) without activating the order (1.108), it is recommended to delete the order: there are internal changes in the market that were not taken into account.
Fundamental Analysis of Forex - EUR/USD
The Russian-Ukrainian conflict could worsen the economy of the European Union. Will the decline in EURUSD quotes continue?
EU imposed economic sanctions on Russia, which led to an increase in energy prices for the European Union and a ban on crossing Russian airspace for European companies. An additional negative for the EU economy could be the flow of refugees from Ukraine. Remember that the destabilization of Europe during the NATO military operation in Yugoslavia, which began in the spring of 1999, eventually led to a weakening of the euro against the US dollar by almost 30% by the fall of 2000. Of course, now the situation is completely different. However, political instability in Europe could again hurt the euro. An additional negative was the opinion of ECB chief Christine Lagarde that a rate hike in 2022 is very unlikely. She announced this on Tuesday, March 1, 2022. The next meeting of the ECB will take place on March 10.
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