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EURUSD: Bulls rise
2022-11-08
1159
Fundamental analysis:
The euro remained volatile against the US dollar at 1.00097. Vereruvard Gallo, member of the European Central Bank's management committee and president of the Bank of France, told the Irish Times that the European Central Bank could not stop raising interest rates before the basic inflation rate reached its peak, but once the interest rate reached the level that began to limit growth, it might slow down the pace of interest rate increases.
EUR USD EURUSD - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the bulls' driving force is strong, the high level continues to soar, the market's bullish mood remains, and the short-term trend continues to rise. The MACD index moves upward on the 0 axis, and the RSI index moves upward on the 50 balanced line;
Empty turning point: 1.00070
Pressing: 1.00459, 1.00690
Support: 0.99825, 0.99579
Trading strategy: bullish above 1.00070, target 1.00459, 1.00690
Alternative strategy: bearish below 1.00070, target 0.99825, 0.99579
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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