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Europe and the United States: low weak finishing
2022-07-13
1198
Fundamental analysis:
The euro remained volatile around 1.00306 against the US dollar, and the euro was severely suppressed, while the US dollar remained stable. The conflict between Russia and Ukraine has increased people's concerns about soaring inflation, and if Russia really cuts off natural gas supply, it is almost certain that there will be an economic recession in the eurozone, which threatens the most basic life of European people.
EURUSD - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the short momentum has repeatedly broken new lows, the bottom narrow weak consolidation and translation, the market short sentiment is shrouded, the MACD index is in the low consolidation and translation of the short area, and the RSI index is in the short area to maintain volatility;
Long short turning point: 1.00410
Pressing position: 1.00826, 1.01347
Support position: 0.99753, 0.99370
Trading strategy: bearish below 1.00410, target 0.99753, 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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