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EURUSD: low move down

Fundamental analysis:

EUR/USD remained volatile around 1.05503. The energy crisis in the euro zone has improved, and the economy is expected to emerge from recession. The European Central Bank continues to say that it will forcefully raise interest rates to curb inflation. It is difficult to recover under pressure.

EURUSD—4-hour K-line chart shows:

Brief technical analysis:

Looking at the 4-hour chart: the short-term momentum continues to move down, the short-term decline has not stopped, the market's bearish sentiment continues to emerge, the MACD indicator is in the bearish area and continues to move down, and the RSI indicator is in the bearish area.

Long-short turning point: 1.05589

Suppression: 1.05749, 1.05908
Support: 1.05342, 1.05202

Trading strategy: bearish below 1.05589, target 1.05342, 1.05202
Alternative strategy: Bullish above 1.05589, target 1.05749, 1.05908

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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