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Europe and the United States: range shock down
2022-06-29
1273
Fundamental analysis:
EURUSD remained volatile around 1.05150. Against the background of hawkish expectations of the European Central Bank, the euro may still be supported in the coming weeks. At a time when the European Central Bank made a major policy change (i.e. withdrawing from negative interest rates for the first time in eight years), economists found it difficult to be completely bearish on the euro.
EURUSD - 4-hour K-line chart display:
Technical analysis:
According to the 4-hour chart, it remained in a wide range in the brin zone index channel for a long time. During this period, it repeatedly spied the nodes of the upper and lower rail sections. The brin zone index continued to close, the MACD index hovered around the 0 axis, and the RSI index was arranged below the 50 equilibrium line,
Multi empty turning point: 1.05285
Pressing position: 1.05538, 1.05806
Support position: 1.04894, 1.04672
Trading strategy: bearish below 1.05285, target 1.04894, 1.04672
Alternative strategy: bullish above 1.05285, target 1.05538, 1.05806
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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