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EURUSD: short low down
2022-09-02
1053
Fundamental analysis:
The EURUSD remained volatile around 0.99427, and the tone of discussion around the ECB interest rate resolution on September 8 seemed to have changed. Several well-known members of the European Central Bank's management committee are pushing for a substantial interest rate increase in September. Inflation has again exceeded expectations, and the global monetary policy background has become more hawkish. The most likely result is a pre hike of 75 basis points.
EURUSD - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the low short-term amplitude space is gradually expanding, the short side is shaking and falling again, and it is about to reach the low level in the early stage. The short-term decline may continue. MACD index is weak below the 0 axis, and RSI index is in a narrow range below the 50 equilibrium line;
Long and short turning point: 0.99532
Pressing position: 0.99823, 1.00130
Support position: 0.99154, 0.98880
Trading strategy: bearish below 0.99532, target 0.99154, 0.98880
Alternative strategy: bullish above 0.99532, target 0.99823, 1.00130
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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