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EURUSD: high level oscillation moves up
2022-08-12
1210
Fundamental analysis:
EURUSD fluctuated around 1.03150. With inflation peaking in the euro area, the euro area will usher in a recession. However, if consumers can avoid the most serious impact of the energy crisis, the euro area can escape from a slight recession. If the government provides support to households and enterprises, natural gas prices will fall next year, and output is expected to shrink by 0.3% in the fourth quarter and 0.2% in the first quarter of next year.
EURUSD - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the high volatility continues to rise. After a short-term rise, the MACD index may maintain an upward pull. The MACD index is in the high position of the long region, and the RSI index is in the weak position of the long region;
Long and short turning point: 1.03055
Pressing position: 1.03370, 1.03562
Support position: 1.02823, 1.02632
Trading strategy: bullish above 1.03055, target 1.03370, 1.03562
Alternative strategy: bearish below 1.03055, targets 1.02823 and 1.02632
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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