EURUSD Analysis: German factory activity decline bearish for EURUSD

October 7, 2019

By IFCMarkets

German factory activity decline bearish for EURUSD

German factory orders declined over month in September more than expected. Will the EURUSD decline?

EURUSD rising above MA(200)

The price chart on 1-hour timeframe shows EURUSD: H1 is trading sideways. The price is above the 200-period moving average MA(200) which is falling. And the RSI is rising above 50 level but has not reached the overbought zone. There is no trend yet formed, traders have to decide when it would be a best time to enter the market.

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Market Analysis provided by IFCMarkets