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EURUSD : The suppression of the long-short turning area is effective
2022-07-25
1312
Fundamental analysis:
The euro rose against the dollar this week, mainly benefiting from a weaker dollar, and the European Central Bank's substantial interest rate hike also supported the euro
EURUSD daily chart
A brief technical analysis:
From the daily chart: After the exchange rate rebounded, the exchange rate rebounded in a narrow range and gathered momentum. MACD was in the bearish area but the volume began to shrink. The RSI fell slightly. It is expected that the short-term exchange rate will likely continue to rebound.
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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