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EURUSD: High bit downlink

2022-10-28
1049
Fundamental analysis:

EURUSD remained volatile at around 0.99625. The European Central Bank raised all three major interest rates by 75 basis points, which was in line with market expectations and was the second time in a row to raise interest rates by 75 basis points.



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




Technical analysis:


The 4-hour chart shows that the momentum of high short positions is rapidly fluctuating downward, and the decline may continue in the short term. The overall short position sentiment of the market begins to be shrouded. The MACD indicator is at the high level in the bull region and moves downward, while the RSI indicator is at the weak point near the 50 equilibrium line;


Empty turning point: 0.99761


Pressing: 1.00104, 1.00448


Support: 0.99229, 0.98834


Trading strategy: bearish at 0.99761, target 0.99229, 0.98834


Alternative strategy: 0.99761 upside bullish, target 1.00104, 1.00448

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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