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EURUSD: bear shock moves down
2022-09-22
1137
Fundamental analysis:
EURUSD remained volatile at around 0.98360. Due to the strength of the dollar and a series of challenges faced by the euro area economy (such as recession risk and rising inflation), EURUSD will fall to a new low in the next few weeks.
EUR USD EURUSD - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the bearish momentum remains volatile and downward, and the short-term decline has not stopped. The market bearish sentiment is shrouded. The MACD indicator is in the bearish area and remains weak and downward, while the RSI indicator is in the bearish area and remains in the downward direction;
Empty turning point: 0.98523
Pressing position: 0.98777, 0.99038
Support position: 0.38117, 0.97894
Trading strategy: bearish at 0.98523, target 0.38117, 0.97894
Alternative strategy: bullish above 0.98523, target 0.98777, 0.99038
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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