EURUSD Analysis: Better than expected German industrial output bullish for EURUSD

October 9, 2019

By IFCMarkets

Better than expected German industrial output bullish for EURUSD

France’s trade balance deficit widened and Italy’s retail sales declined in August while Germany’s industrial output rose. Will the EURUSD rise?

EURUSD moving toward MA(200)

The price chart on 1-hour timeframe shows EURUSD: H1 is in uptrend. The price is moving toward the 200-period moving average MA(200) which is rising. And the RSI is falling toward the 50 level.

Technical Analysis Summary

OrderBuy
Buy stopAbove 1.0989
Stop lossBelow 1.0958

Market Analysis provided by IFCMarkets