September 2, 2019
By IFCMarkets
Low euro-zone inflation bearish for EURUSD
Euro-zone headline inflation final reading confirmed euro-zone inflation remained steady at 1% in August, below European Central Bank’s 2% target. Will the EURUSD continue declining?
A look at the price chart on 1-hour timeframe shows EURUSD: H1 is trading sideways. The price is below the 200-period moving average MA(200) which is falling. And the RSI bounced off from level 20 without breaching into oversold zone. There is no trend yet formed, traders have to decide when would be a best time to enter the market.
Market Analysis provided by IFCMarkets
