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?
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
| Order | Buy |
| Buy stop | Above 1.1178 |
| Stop loss | Below 1.1158 |