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EURUSD: A small rebound without changing the weakness
2022-09-19
1044
Fundamental analysis:
The euro fell back against the US dollar in a volatile manner this week, pressured by the strong US dollar. At the same time, the deepening of the euro zone energy crisis and rising concerns about economic recession have all exerted pressure on the euro.
EURUSD daily chart
Technical analysis:
The daily chart shows that the short-term exchange rate rebounds slightly after a sharp fall. MACD operates under the 0 axis and the volume can shrink slightly under the 0 axis. RSI operates stably. It is expected that the short-term exchange rate will further decline after the rebound.
Empty turning point: 1.0150
Pressing position: 1.0400 1.0600
Support position: 0.9950 0.9800
Trading strategy: bearish under 1.0150, target 0.9950, 0.9800
Alternative strategy: bullish above 1.0150, target 1.0400, 1.0600
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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