By IFCMarkets
Euro edges lower amid weak economic statistics
An upward movement means the strenghtening of silver against the euro. The exchange rate of the single currency fell amid a reduction in the Industrial Production in Germany in December by 6.8% year over year. This is the maximum decline over 10 years. Earlier, the Factory Orders indicator in Germany also demonstrated a strong decline in December. Investors now expect a decrease in German GDP growth forecasts. GDP of Germany and the entire Eurozone for 2019 will be published on February 14. In turn, silver and other precious metals may be in demand amid global risks. Let us note that global demand for silver coins for investment rose by 13% to 1.85 thousand tons last year.
| Indicator | VALUE | Signal |
|---|---|---|
| RSI | Neutral | |
| MACD | Neutral | |
| MA(200) | Buy | |
| Parabolic SAR | Buy | |
| Bollinger Bands | Buy |
Summary of technical analysis
| Order | Buy |
| Buy stop | Above 16.5 |
| Stop loss | Below 15.7 |
Market Analysis provided by IFCMarkets
