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EURUSD : The rebound is weak and starts to decline
2022-08-03
1323
Fundamental analysis:
The euro fell nearly 1% against the dollar on Tuesday after JPMorgan changed its previous forecast that the ECB would raise rates by 25 basis points in September and October, and now sees the ECB raising rates by another 50 basis points in September and then at 10. A pause in interest rate hikes since then, the euro zone economy could be clearly headed for a full-blown contraction.
EURUSD EURUSD daily chart
A brief technical analysis:
From the daily chart: the exchange rate fell rapidly after a short-term attack, the MACD was in the short-term area but the volume could continue to shrink slightly, and the RSI fell slightly. It is expected that the short-term exchange rate will likely decline further.
Long and short turning point: 1.0400
Suppression bit: 1.0600 1.0800
Support: 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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