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Europe and the United States: low shock climb

2022-07-20
1196
Fundamental analysis:

The euro remained volatile around 1.02322 against the US dollar, and the high level of the US dollar fell, giving the euro a chance to rebound. However, the crisis of energy supply continues to threaten the economic development of the euro.


EURUSD - 4-hour K-line chart shows:




Technical analysis:


According to the 4-hour chart, the low-level bulls maintained a good momentum of shock and rise, and the short-term highs were blocked for consolidation, and the Bulls still had a further upward trend. The MACD index was in the high-level consolidation of the bull region, and the RSI index was in the high-level consolidation and translation of the bull region;


Turning point of long and short: 1.01966


Pressing position: 1.02648, 1.03135


Support position: 1.01562, 1.01157


Trading strategy: bullish above 1.01966, target 1.02648, 1.03135


Alternative strategies: bearish below 1.01966, targets 1.01562, 1.01157

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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