By IFCMarkets
Euro-zone manufacturing contraction bearish for EURUSD
Continuing contraction in euro-zone’s manufacturing sector is bearish for euro. Will the EURUSD continue falling?
On 1-hour timeframe EURUSD: H1 is in downtrend, rising toward 200-period moving average MA(200) which is falling. The RSI indicator is rising above 50 level but has not reached the overbought zone yet.
| Order | Sell |
| Sell stop | Below 1.0914 |
| Stop loss | Above 1.0937 |
Market Analysis provided by IFCMarkets