ZEW sentiment indicator decline bearish for EURUSD
Continued decline of ZEW Indicator of Economic Sentiment for Germany in October points to expected further deterioration of the German economy. Will the EURUSD decline?
The price chart on 1-hour timeframe shows EURUSD: H1 is still trading sideways. The price is above the 200-period moving average MA(200) which is rising. And the RSI 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.