Technical Analysis EURUSD : 2019-11-07

IFC Markets

Master Trader
Oct 31, 2012
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London (Great Britain)
www.ifcmarkets.com
Euro-zone growth forecast downgrade bearish for EURUSD
European Union lowered growth forecasts for the euro-zone on global trade tensions. Will the EURUSD decline?



The price chart on 1-hour timeframe shows EURUSD: H1 is trading sideways. The price is rising toward the 200-period moving average MA(200) which is level. And the RSI oscillator is above 50 level and 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.