EURUSD Analysis: Bigger German unemployment bearish for EURUSD

January 3, 2020

By IFCMarkets

Bigger German unemployment bearish for EURUSD

German unemployment rose more than expected in December. Will the EURUSD continue declining?

EURUSD testing MA(200)

On 1-hour timeframe EURUSD: H1 is in downtrend, testing the 200-period moving average MA(200) which is level. The RSI indicator is about to reach the oversold zone.

Technical Analysis Summary

OrderSell
Sell stopBelow 1.1130
Stop lossAbove 1.1150

Market Analysis provided by IFCMarkets