EURUSD Forecast | Declining producer prices bearish for EURUSD | IFCM

Technical Analysis EURUSD : 2019-10-21

Declining producer prices bearish for EURUSD

The index of producer prices for industrial products in euro-zone decreased by 0.1% in September compared with the corresponding month of the preceding year, after +0.3% increase in August. Will the EURUSD decline?

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 falling but is above 50 level.

Technical Analysis Summary

Buy stop Above 1.1178
Stop lossBelow 1.1158

Start trading with IFC Markets

We are ready to support you with any kind of questions, 24 hours a day.

Note: This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.