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EURUSD: High level ladder lifting

2022-11-09
563
Fundamental analysis:

EURUSD remained volatile around 1.00726. The monthly rate of retail sales in the euro area in September recorded 0.4%, which is expected to be 0.4%, with a previous value of -0.30%. It is the highest value since November 2021.


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




Technical analysis:


The 4-hour chart shows that the bulls' momentum has risen in a step by step manner, the short-term high bullish sentiment remains, and the market continues to climb. The MACD index is at the high level in the bulls' region, finishing and moving up, and the RSI index is at the high level in the bulls' region;


Empty turning point: 1.00586


Pressing: 1.00971, 1.01207


Support: 1.00339, 1.00049


Trading strategy: bullish above 1.00,586, target 1.00,971, 1.01,207


Alternative strategy: bearish under 1.00586, target 1.00339, 1.00049

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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