EURUSD Analysis: Declining producer prices bearish for EURUSD

October 21, 2019

By IFCMarkets

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?

EURUSD rising above MA(200)

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

Order Buy
Buy stop Above 1.1178
Stop loss Below 1.1158

Market Analysis provided by IFCMarkets