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EURUSD: low position wide amplitude oscillation translation
2022-08-30
1161
Fundamental analysis:
EURUSD fluctuated around 0.99897. European central bank policymakers hope to discuss an interest rate increase of 75 basis points at the policy meeting in September, even though the recession risk is imminent because the inflation outlook is deteriorating. The European Central Bank raised its benchmark interest rate by 50 basis points to zero last month, which was an unexpected move. The next interest rate increase of the same magnitude has also been priced.
EURUSD - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the low-level and wide-range shocks shift, the market as a whole is still weak, and the final direction has not been given in the short term. The MACD indicator is in the weak position of the short area, and the RSI indicator is in the weak position of the 50 balanced online side;
Long and short turning point: 1.00086
Pressing position: 1.00405, 1.00725
Support position: 0.99606, 0.99305
Trading strategy: bearish below 1.00086, target 0.99606, 0.99305
Alternative strategy: bullish above 1.00086, targets 1.00405 and 1.00725
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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