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EURUSD: Low level weakness hovers
2022-10-13
1171
Fundamental analysis:
EURUSD remained volatile at around 0.97011. The market has always believed that the EURUSD would decline, and did not believe that this trend would reverse; The market expects that the exchange rate will again test the low point in 2022, and the measurement of speculative short positions in the euro has rebounded.
EUR USD EURUSD - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the power of high short positions remains weak and moves downward, while low positions hover in a narrow range. Short term short positions show signs of weakening. The MACD index is in a narrow range under the 0 axis and the RSI index is in a weak range under the 50 equilibrium line;
Empty turning point: 0.97135
Pressing: 0.97457, 0.97760
Support: 0.96646, 0.96348
Trading strategy: bearish at 0.97135, target 0.96646, 0.96348
Alternative strategy: bullish above 0.97135, target 0.97457, 0.97760
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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