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EURUSD : rebound still has kinetic energy
2022-08-01
1424
Fundamental analysis:
EUR/USD was almost flat at 1.0210 this week, although the euro zone's initial July CPI annual rate continued to hit a record high of 8.9%, but the European energy crisis is expected to limit the European Central Bank's room for further substantial interest rate hikes, which limits the euro's rebound.
EURUSD EURUSD daily chart
A brief technical analysis:
From the daily chart: the exchange rate has gradually risen slightly in the short-term, MACD is in the short-term area but the volume can continue to shrink slightly, and the RSI has rebounded slightly. It is expected that the short-term exchange rate will continue to rebound slightly.
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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