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EURUSD: High level shock pullback
2022-11-16
1149
Fundamental analysis:
EURUSD remained volatile at 1.03453. The revised GDP annual rate of the euro area in the third quarter was 2.1%, expected to be 2.10%, and the previous value was 2.10%. The quarterly rate of employment in the third quarter recorded 0.2%, a new low since the first quarter of 2021.
EUR USD EURUSD - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that after the bull momentum continued to move up, the high position was obstructed and retreated in a short period of shock, and the short market sentiment began to slowly enter the market. The MACD index was at the high level in the bull region and the RSI index was at the high level in the bull region;
Empty turning point: 1.03531
Pressing: 1.03962, 1.04364
Support: 1.02989, 1.02541
Trading strategy: 1.03531 lower bearish, target 1.02989, 1.02541
Alternative strategy: bullish above 1.03531, target 1.03962, 1.04364
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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