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EURUSD: short term suppression is still effective
2022-07-26
1255
Fundamental analysis:
High energy prices and natural gas shortages are putting pressure on the German economy. Some companies expect business activity to deteriorate significantly in the coming months: Germany is on the brink of recession. The bad data reflects the growing pessimism of German enterprises. As inflation and the conflict between Russia and Ukraine have exacerbated the shortage of parts, the recovery of German economy since the epidemic has slowed down;
EURUSD daily chart
Technical analysis:
Daily chart: after the exchange rate rebounded, the narrow range consolidation momentum, MACD is in the short area, but the volume can start to shrink, RSI fell slightly, and it is expected that the short-term exchange rate will continue the weak rebound trend.
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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