October 31, 2019
By IFCMarkets
Lower euro-zone inflation bearish for EURUSD
Eurostat reported euro-zone headline inflation is expected to be 0.7% in October 2019, down from 0.8% in September. Will the GBPUSD decline?
The price chart on 1-hour timeframe shows EURUSD: H1 is trading sideways. The price is falling toward the 200-period moving average MA(200) which is level. And the RSI oscillator is above 50 level but has not reached the overbought zone. There is no trend yet formed, traders have to decide when it would be a best time to enter the market.
Market Analysis provided by IFCMarkets
