EURUSD Analysis: Easing of euro-zone manufacturing downturn bullish for EURUSD

May 21, 2020

By IFCMarkets

Easing of euro-zone manufacturing downturn bullish for EURUSD

Euro-zone’s manufacturing activity contraction slowed in May: Markit reported Manufacturing PMI rose to 39.5 from 33.4 in April, when an increase to 38 was expected. Readings above 50.0 indicate industry expansion, below indicate contraction. This is bullish for EURUSD.

Indicator VALUE Signal
RSI Neutral
MACD Buy
Donchian Channel Neutral
MA(200) Buy
Fractals Buy
Parabolic SAR Buy

 

Summary of technical analysis

Order Buy
Buy stop Above 1.1003
Stop loss Below 1.0952

Market Analysis provided by IFCMarkets


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