EURUSD Analysis: Rising German trade surplus bullish for EURUSD

December 9, 2019

By IFCMarkets

Rising German trade surplus bullish for EURUSD

German trade surplus rose 14.9% over year in October. Will the EURUSD continue rising?

EURUSD rising above MA(200)

The price chart on 1-hour timeframe shows EURUSD: H1 is in uptrend. The price is rising above the 200-period moving average MA(200) which is rising. The RSI oscillator is above 50 level but has not reached the overbought zone.

Technical Analysis Summary

OrderBuy
Buy stopAbove 1.1075
Stop lossBelow 1.1055

Market Analysis provided by IFCMarkets