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EURUSD: Multi head narrow range finishing
2022-10-04
1085
Fundamental analysis:
EURUSD remained volatile around 0.98284. The market expected that the European Central Bank would "vigorously" respond to the double-digit inflation data in the euro area, but the market expected that this would provide little support for the euro.
EUR USD EURUSD - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the low bulls' momentum maintains a narrow range of consolidation and slowly rises, the market's bullish sentiment remains unchanged, the MACD indicator hovers on the top of the 0 axis, and the RSI indicator is in the 50 balanced online narrow range of consolidation;
Empty turning point: 0.98146
Pressing position: 0.98710, 0.99102
Support position: 0.97705, 0.97365
Trading strategy: bullish above 0.98146, target 0.98710, 0.99102
Alternative strategy: bearish at 0.98146, target 0.97705, 0.97365
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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