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EURUSD: 1.0400 area suppression is effective
2022-08-14
1196
Fundamental analysis:
The economic situation in the euro zone remains difficult. Investor confidence in the euro zone edged up to -25.2 in August from -26.4 in July, a survey released on Monday showed, not enough to dispel recession fears in the euro zone. Things looked even worse in Germany, Europe's largest economy, with the headline index falling to -24.4 points, its lowest level since May 2020.
EURUSD EURUSD daily chart
Technical brief:
From the daily chart: the exchange rate is running strong and close to the strong suppression area, the MACD crosses the 0-axis and the volume and energy 0-axis is looming, and the RSI declines slightly.
Long and short turning point: 1.0400
Suppression bit: 1.0600 1.0800
Support: 1.015 1.0000
Trading strategy: bearish below 1.0400, target 1.0150, 1.0000
Alternative strategy: bullish above 1.0400, target 1.0600, 1.0800
The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.
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