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Industrial output of euro zone economic powers increased by 0.7% month on month
2022-06-09
1211
Fundamental analysis:
EURUSD remained volatile around 1.07150. The rebound in German industrial production in April was lower than expected, indicating that manufacturing activity is recovering at a slower pace. The German Federal Statistical Agency said that the data after the quarterly adjustment showed that the industrial output of the euro zone's economic powers increased by 0.7% month on month, expected to be 1.0%, and the previous value was -3.7%.
EURUSD - 4-hour K-line chart display:
Technical comments: it has maintained a wide vibration and translation in the Bollinger belt index channel for a long time. During this period, it has repeatedly probed into the nodes of the upper and lower rail sections. The Bollinger belt index has shifted in a closing trend. The MACD index is in a weak position near the 0 axis, and the RSI index is in a narrow range near the 50 equilibrium line;
Multi empty turning point: 1.07041
Pressing position: 1.07399, 1.07654
Support position: 1.06769, 1.06513
Trading strategy: bullish above 1.07041, target 1.07399, 1.07654
Alternative strategy: bearish below 1.07041, target 1.06769, 1.06513
The above analysis is a personal point of view and is for reference only.
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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