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EURUSD: continue to back measure the accumulation force

Fundamental analysis:

The ECB Governing Board and President of the Portuguese Central Bank, Sertno, said that the ECB has the ability to reduce the pace of interest rate increases after two 75 basis points of interest rate increases.

EURUSD daily chart

Technical analysis:

The daily chart shows that the short-term exchange rate continues to step back slightly, the MACD shrinks slightly on the 0 axis, and the RSI is weakened at a high level. It is expected that the short-term exchange rate will rise further after the settlement.  

Empty turning point: 1.0150

Pressing position: 1.0400 1.0650

Support position: 0.9950 0.9750

Trading strategy: bullish above 1.0150, target 1.0400, 1.0650

Alternative strategy: bearish under 1.0150, target 0.9950, 0.9750

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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