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EURUSD: low narrow finishing up
2022-08-18
1195
Fundamental analysis:
EURUSD fluctuated around 1.01793, and the market continued to rely on the securities lending tools of the European Central Bank, strengthening the opinion of analysts: the European Central Bank should copy the reverse repo tool used by the Federal Reserve to ease the scarcity of collateral.
EURUSD - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the low long power maintains the narrow range consolidation and moves up slowly. The long power shows signs of waiting for an opportunity to enter the market. The MACD indicator is in the short area and maintains the consolidation. The RSI indicator is in the lower side of the 50 equilibrium line;
Long and short turning point: 1.01676
Pressing position: 1.01991, 1.02190
Support position: 1.01497, 1.01322
Trading strategy: bullish above 1.01676, target 1.01991, 1.02190
Alternative strategy: bearish below 1.01676, target 1.01497, 1.01322
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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