October 24, 2019
By IFCMarkets
Weaker than expected euro area PMIs bearish for EURUSD
Euro-zone’s flash readings of manufacturing and services sectors’ PMIs for October were weaker than expected. Will the EURUSD 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 rising. And the RSI oscillator is below 50 level but has not reached the oversold 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
