EURUSD Analysis: Falling German PPI bearish for EURUSD

November 20, 2019

By IFCMarkets

Falling German PPI bearish for EURUSD

The decline of the index of producer prices for industrial products in Germany accelerated to 0.6% over year in October from 0.1% in September. Will the EURUSD decline?

EURUSD falling above MA(200)

On 1-hour timeframe EURUSD: H1 is in downtrend, above the 200-period moving average MA(200) which is level. The RSI indicator is below 50 level but has not reached the oversold zone.

Technical Analysis Summary

OrderSell
Sell stopBelow 1.1055
Stop lossAbove 1.1075

Market Analysis provided by IFCMarkets