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EURUSD: bulls pull up strongly
2022-08-11
1269
Fundamental analysis:
EURUSD fluctuated around 1.02982. It is expected that EURUSD is still weak. It seems that there is no reliable reason to buy the currency pair. Europe is more vulnerable to the risk of geopolitical events than North America. The decline of implied volatility level indicates that investors may not be willing to push EURUSD to break through the range of 1.0100-1.0300 in the near future.
EURUSD - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the Bulls maintained a good momentum of fluctuation and upward movement. The short-term highs were reorganized when encountering obstacles, and the market bullish mood was shrouded. The MACD index was in the Bulls region and maintained the consolidation and upward movement, and the RSI index was in the Bulls region and maintained the consolidation and translation;
Long and short turning point: 1.02843
Pressing position: 1.03252, 1.03500
Support position: 1.02631, 1.02389
Trading strategy: bullish above 1.02843, target 1.03252, 1.03500
Alternative strategy: bearish below 1.02843, targets 1.02631 and 1.02389
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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