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EURUSD: Oscillation moves down
2022-11-02
1110
Fundamental analysis:
EURUSD remained volatile at around 0.98730. The inflation rate in the euro area rose to 10.7% from 9.9% a month ago, exceeding the estimated 10.2%, and far higher than the 2% inflation target of the European Central Bank. This strengthened the expectation of the European Central Bank to raise interest rates, providing support for the euro.
EUR USD EURUSD - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the momentum of high short positions remains volatile and downward, and the short-term decline may continue. The market as a whole is still in a downward trend. The MACD index is arranged under the 0 axis, and the RSI index is hovering under the 50 equilibrium line;
Empty turning point: 0.98851
Pressing: 0.99169, 0.99460
Support: 0.98,387, 0.98,087
Trading strategy: 0.98851 lower bearish, target 0.98387, 0.98087
Alternative strategy: bullish above 0.98851, target 0.99169, 0.99460
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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