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EURUSD: continuous wide range oscillation
2022-08-09
1225
Fundamental analysis:
The euro remained volatile around 1.01951 against the US dollar. The economic growth of the euro area was surprisingly strong in the first half of 2022, which was 1.2%, about 2% stronger than the US economy. In the third quarter, it is expected that some southern European countries will benefit from the recovery of the tourism industry, but the overall trend of economic growth has obviously decreased.
EURUSD - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the amplitude space starts to narrow gradually, short-term short-term short-term power shows signs of waiting for opportunities to enter the market, MACD index hovers around the 0 axis, and RSI index is weak near the 50 equilibrium line;
Long and short turning point: 1.02003
Pressing position: 1.02213, 1.02402
Support position: 1.01758, 1.01574
Trading strategy: bearish below 1.02003, target 1.01758, 1.01574
Alternative strategy: bullish above 1.02003, targets 1.02213 and 1.02402
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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