December 17, 2019
By IFCMarkets
Rising euro-zone trade surplus bullish for EURUSD
Euro-zone trade surplus increased to 24.5 billion euros in October compared with 18.7 billion in previous month. Will the EURUSD rise?
The price chart on 1-hour timeframe shows EURUSD: H1 is trading sideways. The price is rising above the 200-period moving average MA(200) which is rising. And the RSI oscillator is rising above 50 level but has not reached the overbought zone. There is no trend yet formed, traders have to decide when it would be a best time to enter the market.
Technical Analysis Summary: Sideways price movement
| Order | None |
| Buy/Sell | – |
| Stop loss | – |
Market Analysis provided by IFCMarkets
