CM Trade

Download APP to receive bonus

GET

EURUSD: wait patiently for a rebound

2022-07-15
1271
Fundamental analysis:


The euro hit 0.9951 against the US dollar earlier, the lowest since December 2002, and finally fell 0.37% to 1.0017. Some market analysts said that the euro may still be sold before the restart of Beixi No. 1 project.


EURUSD daily chart

Technical analysis:


According to the daily chart, the exchange rate has stopped falling and rebounded after days of weak operation. MACD is in the short position and can sell in large quantities. RSI continues to be weak. It is expected that the short-term exchange rate will continue to decline after the rebound.  


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.

Free Access
Daily Trading Strategy
Download Now

CM Trade Mobile Application

Economics Calendar

More