Declining producer prices bearish for EURUSD
The index of producer prices for industrial products in euro-zone decreased by 0.1% in September compared with the corresponding month of the preceding year, after +0.3% increase in August. Will the EURUSD decline?
The price chart on 1-hour timeframe shows EURUSD: H1 is in uptrend. The price is rising above the 200-period moving average MA(200) which is rising. The RSI oscillator is falling but is above 50 level.
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Technical Analysis Summary
|Buy stop||Above 1.1178|
|Stop loss||Below 1.1158|
Market Analysis provided by IFCMarkets