Subdued German activity bearish for EURUSD
The Composite PMI in Germany for November remained below 50 despite edging up for the second month. Will the EURUSD decline?
The price chart on 1-hour timeframe shows EURUSD: H1 is trading sideways. The price is falling toward the 200-period moving average MA(200) which is rising. 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.