EURUSD Analysis: Euro-zones Composite PMI upgrade bullish for EURUSD

December 4, 2019

By IFCMarkets

Euro-zones Composite PMI upgrade bullish for EURUSD

The final reading of euro-zone’s Composite PMI index was unchanged in November at 50.6, above the earlier flash reading of 50.3. Will the EURUSD rise?

EURUSD falling above MA(200)

The price chart on 1-hour timeframe shows EURUSD: H1 is trading sideways. The price is falling above the 200-period moving average MA(200) which is level. And the RSI oscillator is below 50 level and 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