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EURUSD: long shock pull up
2022-08-10
1270
Fundamental analysis:
EURUSD fluctuated around 1.02116, and the downward pressure on the euro area economy is still great, which is reflected in the low consumption willingness, high inflation and high energy prices, which have not significantly improved investor confidence.
EURUSD - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the power of the Bulls keeps moving upward, and the short-term upward trend may continue. The MACD index hovers on the upper side of the 0 axis, and the RSI index is in the narrow range of the 50 balanced online side;
Long and short turning point: 1.02003
Pressing position: 1.02285, 1.02450
Support position: 1.01856, 1.01709
Trading strategy: bullish above 1.02003, targets 1.02285 and 1.02450
Alternative strategy: bearish below 1.02003, targets 1.01856 and 1.01709
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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