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EURUSD : The short-term exchange rate accelerates downward
2022-08-16
1265
Fundamental analysis:
European bond markets have been rising since June, but those gains have made little sense as manufacturers face soaring energy prices and Germany headed for recession.
EURUSD EURUSD daily chart
Technical brief:
From the daily chart: the exchange rate accelerates downwards, the MACD runs near the 0-axis with insufficient volume and energy, and the RSI declines slightly. It is expected that the short-term exchange rate will likely decline further.
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
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