EURUSD Analysis: Growing euro-zone trade surplus bullish for EURUSD

October 17, 2019

By IFCMarkets

Growing euro-zone trade surplus bullish for EURUSD

Euro-zone trade surplus rose more than expected in August. Will the EURUSD rise?

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 rising. And the RSI is rising but has not reached the overbought zone yet. 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