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EURUSD: Bulls surge

2022-11-07
1044
Fundamental analysis:

EURUSD remained volatile around 1.11479. ECB Governing Board Neger: further interest rate increases are needed. The European Central Bank should not restrain further interest rate hikes. We must reduce inflation in the medium term. We should not stop raising interest rates even if we face increasing political pressure.



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




Technical analysis:


The 4-hour chart shows that the bulls' momentum is rapidly rising, short-term bullish sentiment is pouring in, and the market bulls are constantly rising. The MACD index is in the short region, and the low position moves up, and the RSI index moves up above the 50 equilibrium line;


Empty turning point: 0.99374


Pressing: 0.99786, 1.00090


Support: 0.99107, 0.98840


Trading strategy: bullish above 0.99374, target 0.99786, 1.00090


Alternative strategy: bearish at 0.99374, target 0.99107, 0.98840

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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