EURUSD Analysis: Improving ZEW indicator bullish for EURUSD

November 12, 2019

By IFCMarkets

Improving ZEW indicator bullish for EURUSD

The ZEW Indicator of Economic Sentiment for Germany improved substantially in November compared with the previous month. Will the EURUSD rise?

EURUSD falling below MA(200)

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

Technical Analysis Summary

OrderSell
Sell stopBelow 1.1017
Stop lossAbove 1.1037

Market Analysis provided by IFCMarkets