EUR/USD Technical Analysis | EUR/USD Trading: 2019-12-02 | IFCM Turkey
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EUR/USD Technical Analysis - EUR/USD Trading: 2019-12-02

Euro-zone manufacturing decline bearish for EURUSD

Euro-zone manufacturing sector continued contraction in November, albeit at the slowest rate for three months. Will the EURUSD decline?

EURUSD falling below MA(200)

The price chart on 1-hour timeframe shows EURUSD: H1 is trading sideways. The price is falling 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.

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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.

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