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EURUSD: bulls pull up strongly
2022-08-05
1185
Fundamental analysis:
EUR / USD remained volatile around 1.02433. The final value of the S & P global eurozone purchasing managers' index (PMI) in July fell to a 17 month low of 49.9 from 52.0 in June, although it was higher than the initial value of 49.4. The index is regarded as a good indicator of economic health, and below 50 indicates a contraction in activity.
EURUSD - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the Bulls' momentum has been strongly pulled up, and the short-term bulls have continued to climb. The early high is close to the late foot, and the break is imminent. The MACD index is weak around the 0 axis, and the RSI index is in a narrow range of 50 equilibrium on the online side;
Turning point of long and short: 1.02339
Pressing position: 1.02642, 1.02858
Support position: 1.02147, 1.01940
Trading strategy: bullish above 1.02339, targets 1.02642, 1.02858
Alternative strategies: bearish below 1.02339, targets 1.02147, 1.01940
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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