Weakening German consumer sentiment bearish for EURUSD
German consumer confidence is expected to weaken in January, according to GfK. Will the EURUSD decline?
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 rising. And the RSI oscillator is falling below 50 level but 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.
Technical Analysis Summary: Sideways price movement
| Order | None |
| Buy/Sell | - |
| Stop loss | - |