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EURUSD: High level sorting

2022-11-17
565
Fundamental analysis:

The euro remained volatile against the US dollar at 1.03921. The rebound of the euro against the US dollar was sharp, probably due to the settlement of a large number of long US dollar positions, which were established by investors hoping to profit from the months of US dollar rebound. A peak in the dollar means that the euro is near a low against the dollar. The Danish central bank believes that the euro will not fall to 0.95 against the dollar in the next three months.


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




Technical analysis:

The 4-hour chart shows that the high short-term ladder shock moves up, the short-term bullish mood is shrouded, the market bulls begin to wait for the opportunity to enter the market and continue to move up in a narrow range of shocks, the MACD index is in the long area of consolidation and translation, and the RSI index is in the long area of narrow range of wandering;

Empty turning point: 1.03739

Pressing: 1.04364, 1.04851

Support: 1.03295, 1.02892

Trading strategy: bullish above 1.03,739, target 1.04,364, 1.04,851

Alternative strategy: bearish under 1.03739, target 1.03295, 1.02892

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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