Euro-zone manufacturing decline bearish for EURUSD
Euro-zone manufacturing sector continued contraction in November, albeit at the slowest rate for three months. Will the EURUSD decline?
The price chart on 1-hour timeframe shows EURUSD: H1 is trading sideways. The price is falling below the 200-period moving average MA(200) which is falling. And the RSI oscillator is below 50 level and has not reached the oversold 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