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The European Central Bank raises interest rates in doubt, the euro against the dollar accelerates the decline

2022-06-13
67536
Fundamental analysis:
The European Central Bank maintained interest rates on Thursday and announced that it will start raising interest rates in July, but it lacked details on its plan to deal with financing fragmentation. Risks to economic growth in the euro zone are increasing day by day, and the market has doubts about the European Central Bank's commitment to raising interest rates.
EURUSD Daily Chart:

Technical analysis: The daily moving averages are arranged in a long position, but the moving averages are obviously turning heads. The exchange rate begins to accelerate downward. The MACD runs above the 0 axis but the volume can continue to shrink. The RSI tends to weaken. It is expected that the short-term exchange rate will continue to decline. 
Long and short turning point: 1.0800
Suppression bit: 1.0960 1.1140
Support: 1.0630 1.0460
Trading strategy: bearish below 1.0800, target 1.0630, 1.0460
Alternative strategy: bullish above 1.0800, target 1.0960, 1.1140

The above analysis is a personal opinion 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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