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EURUSD: Rebound still remains weak
2022-10-17
1096
Fundamental analysis:
EURUSD has basically maintained volatile trading this week. The Federal Reserve's radical interest rate hike has brought serious negative impact on the euro area. The European Central Bank is in a more difficult situation, and the euro is still under downward pressure.
EURUSD daily chart
Technical analysis:
From the daily chart, we can see that the short-term exchange rate low is broadly sorted out. MACD operates under the 0 axis, but the volume can continue to shrink slightly under the 0 axis. RSI stops falling and slowly recovers. It is expected that the short-term exchange rate probability will be low and weak, which does not rule out the possibility of further decline.
Empty turning point: 0.9950
Pressing position: 1.0150 1.0400
Support position: 0.9750 0.9550
Trading strategy: bearish below 0.9950, target 0.9750, 0.9550
Alternative strategy: bullish above 0.9950, target 1.0150, 1.0400
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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