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EURUSD: bears once again dominate
2022-07-27
1114
Fundamental analysis:
The US dollar rose against a basket of major currencies on Tuesday and got rid of the decline after falling for three consecutive trading days, as concerns about the economic recession increased, investors were waiting for the policy statement of the Federal Reserve, and energy supply concerns weighed heavily on the euro.
EURUSD daily chart
Technical analysis:
Daily chart: the exchange rate began to decline after the weak rebound. MACD is in the short position, but the volume can shrink slightly. RSI fell rapidly. It is expected that the short-term exchange rate will continue to be weak.
Long short turning point: 1.0400
Pressing position: 1.0600 1.0800
Support position: 1.015 1.0000
Trading strategy: bearish below 1.0400, target 1.0150, 1.0000
Alternative strategy: bullish above 1.0400, target 1.0600, 1.0800
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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