EURUSD Analysis: Falling wholesale prices bearish for EURUSD

November 11, 2019

By IFCMarkets

Falling wholesale prices bearish for EURUSD

The wholesale selling prices in Germany fell by 2.3% in October 2019 from the corresponding month of the preceding year. Will the EURUSD decline?

EURUSD rising toward MA(200)

The price chart on 1-hour timeframe shows EURUSD: H1 is in uptrend. The price is rising toward the 200-period moving average MA(200) which is falling. The RSI oscillator is at about 50 level and has not reached the overbought zone.

Technical Analysis Summary

OrderBuy
Buy stopAbove 1.1039
Stop lossBelow 1.1019

Market Analysis provided by IFCMarkets