Germany’s industrial orders decline bearish for EURUSD
Factory orders in Germany fell more than expected in July. Will the EURUSD continue falling?
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