EURUSD Analysis: Consumer sentiment decline bearish for EURUSD

October 23, 2019

By IFCMarkets

Consumer sentiment decline bearish for EURUSD

The consumer confidence index decreased in euro area more than expected in October. Will the EURUSD decline?

EURUSD falling toward MA(200)

The price chart on 1-hour timeframe shows EURUSD: H1 is in downtrend. The price is falling toward the 200-period moving average MA(200) which is rising. The RSI oscillator is rising toward 50 level.

Technical Analysis Summary

OrderSell
Sell stopBelow 1.1107
Stop lossAbove 1.1127

Market Analysis provided by IFCMarkets