EURUSD Analysis: Germany’s industrial orders decline bearish for EURUSD

September 6, 2019

By IFCMarkets

Germany’s industrial orders decline bearish for EURUSD

Factory orders in Germany fell more than expected in July. Will the EURUSD continue falling?

EURUSD falling below MA(50)

A look at the price chart on 1-hour timeframe shows EURUSD: H1 is still trading sideways. The price has fallen below the 50-period moving average MA(50) which is levelling off. And the RSI is falling toward oversold zone. There is no trend yet formed, traders have to decide when would be a best time to enter the market.

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Market Analysis provided by IFCMarkets