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EURUSD: short term falling into range consolidation
2022-07-28
1220
Fundamental analysis:
The eurozone economy may already be shrinking. Jari stehn and other economists at Goldman Sachs said that the economic recession would continue until the end of this year. They predict that the GDP of the eurozone will shrink by 0.1% and 0.2% in the third and fourth quarters, respectively, and resume growth in 2023.
EURUSD daily chart
Technical analysis:
According to the daily chart, the exchange rate rose slightly after the decline. MACD is in the short position, but the volume can shrink slightly. RSI rebounded slightly. 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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