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Europe and the United States: continued downward
2022-07-12
1140
Fundamental analysis:
The euro / US dollar remained volatile around 1.00092. The euro / US dollar fell to a 20-year low on Monday and was close to parity. The interest rate of the US fixed income bear market peaked last month, similar to January 2000, when the euro / US dollar also fell below parity.
EURUSD - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the bearish momentum continues, and the bearish downward trend is good. The low level is about to fall close to the parity. The MACD index is in the bearish area, and the low level maintains the consolidation and translation, and the RSI index is in the bearish area maintaining the weak downward trend;
Long short turning point: 1.00410
Pressing position: 1.00826, 1.01347
Support position: 0.99690, 0.99370
Trading strategy: bearish below 1.00410, target 0.99690, 0.99370
Alternative strategies: bullish above 1.00410, targets 1.00826, 1.01347
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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