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Europe and America: move up after narrow width finishing
2022-07-22
1149
Fundamental analysis:
EURUSD remained volatile around 1.02257. The European Central Bank raised the three key interest rates by 50 basis points. The market is expected to raise interest rates by 25 basis points, the first increase in interest rates in 11 years.
EURUSD - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the low-level Bull Power maintained a concussion and rise. After the high-level short-term narrow range consolidation, it continued to pull upward. The MACD index hovered on the upper side of the 0 axis, and the RSI index was at 50 balanced online narrow range consolidation;
Long short turning point: 1.02046
Pressing position: 1.02648, 1.03011
Support position: 1.01702, 1.10376
Trading strategy: bullish above 1.02046, targets 1.02648, 1.03011
Alternative strategies: bearish below 1.02046, targets 1.01702, 1.10376
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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