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EURUSD: bear shock moves down
2022-10-07
1112
Fundamental analysis:
The uncertainty of the European energy crisis may still be high, which is why the euro/USD may be lower than rather than higher than the parity level in the future.
EUR USD EURUSD - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the bearish momentum remains volatile and slowly declines. The short-term bearish pullback trend may continue. The market bearish sentiment starts to emerge slowly. The MACD indicator bearish momentum retreats to hover near the 0 axis, and the RSI indicator is in a narrow range below the 50 equilibrium line;
Empty turning point: 0.98004
Pressing: 0.98371, 0.98746
Support: 0.97523, 0.97205
Trading strategy: bearish at 0.98004, target 0.97523, 0.97205
Alternative strategy: bullish above 0.98004, target 0.98371, 0.98746
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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