Technical Analysis EURUSD : 2019-11-08

IFC Markets

Master Trader
Oct 31, 2012
1,443
4
84
London (Great Britain)
www.ifcmarkets.com
Weak trade balance bearish for EURUSD
French and German trade balanced for September were weaker than expected. Will the EURUSD decline?



The price chart on 1-hour timeframe shows EURUSD: H1 is trading sideways. The price fell below the 200-period moving average MA(200) which is falling. And the RSI oscillator is below 50 level and has not reached the oversold zone. There is no trend yet formed, traders have to decide when it would be a best time to enter the market.