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EURUSD: Bulls keep rising

2022-10-05
1125
Fundamental analysis:

The euro remained volatile against the US dollar at 0.99830. EU member states have agreed to provide training for up to 15000 Ukrainian soldiers as soon as possible. According to the plan, Poland will obtain EU funds to set up a headquarters for the plan, and part of the work will be carried out in other EU countries.


EUR USD EURUSD - 4-hour K line chart shows:



Technical analysis:


The 4-hour chart shows that the low bulls' momentum continues to fluctuate and rise, and the short-term bullish sentiment continues. The early high is just around the corner, the MACD indicator stays in the long area and keeps sorting and rising, and the RSI indicator stays in the long area and stays high;


Empty turning point: 0.99627


Pressing position: 1.00276, 1.00663


Support position: 0.99249, 0.98920


Trading strategy: 0.99627 upside bullish, target 1.00276, 1.00663


Alternative strategy: bearish at 0.99627, target 0.99249, 0.98920

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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