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URUSD: low shock up

2022-09-01
1007
Fundamental analysis:

EURUSD fluctuated around 1.00517. Even if the ECB is willing to continue to raise interest rates to control inflation, it is doubtful whether the rate can be increased as expected, and it is also expected that the euro will have a limited role in boosting the economy.


EURUSD - 4-hour K-line chart shows:




Technical analysis:


According to the 4-hour chart, the low-level narrow range consolidation is slowly rising, and the market bulls are waiting for the opportunity to enter the market. The MACD index is in the weak position on the upper side of the 0 axis, and the RSI index is in the weak position on the 50 balanced online side;


Long and short turning point: 1.00375


Pressing position: 1.00833, 1.01150


Support position: 1.00032, 0.99759


Trading strategy: bullish above 1.00375, target 1.00833, 1.01150


Alternative strategy: bearish below 1.00375, target 1.00032, 0.99759

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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