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EURUSD: bearish downlink
2022-11-01
1093
1304x661
Fundamental analysis:
The euro remained volatile against the dollar at 0.98789. Europe's largest economy unexpectedly avoided recession in the third quarter. Driven by the painful energy confrontation with Russia, the inflation rate unexpectedly climbed.
EUR USD EURUSD - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the momentum of high short positions remains volatile and retreats downward, and the short-term decline may continue. The MACD indicator hovers below the 0 axis, and the RSI indicator is weak at the bottom of the 50 equilibrium line;
Empty turning point: 0.98945
Pressing: 0.99263, 0.99589
Support: 0.98465, 0.98156
Trading strategy: bearish at 0.98945, target 0.98465, 0.98156
Alternative strategy: bullish above 0.98945, target 0.99263, 0.99589
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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