EURUSD Analysis: Improving Ifo index bullish for EURUSD

December 18, 2019

By IFCMarkets

Improving Ifo index bullish for EURUSD

German Ifo business sentiment index rose more than expected in December. Will the EURUSD rise?

EURUSD testing MA(200)

On 1-hour timeframe EURUSD: H1 is in downtrend, poised to test the 200-period moving average MA(200) which is level. The RSI indicator is below 50 but has not reached the oversold zone.

Technical Analysis Summary

OrderSell
Sell stopBelow 1.1120
Stop lossAbove 1.1140

Market Analysis provided by IFCMarkets