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EURUSD: Short Position Narrow Amplitude Oscillation
2022-10-21
1118
Fundamental analysis:
EURUSD remained volatile at around 0.97797. Due to the soaring energy prices, the inflation rate in the euro area soared. Like most countries in the world, the supply chain still recovering from the epidemic was further impacted by the conflict between Russia and Ukraine.
EUR USD EURUSD - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the bearish power maintains a narrow range of shocks and declines. The short-term decline may show signs of opportunistic entry. The MACD indicator is at the upper side of the 0 axis and the RSI indicator is at the lower side of the 50 equilibrium line;
Empty turning point: 0.97845
Pressing: 0.98057, 0.98323
Support: 0.97530, 0.97243
Trading strategy: bearish at 0.97845, target 0.97530, 0.97243
Alternative strategy: bullish above 0.97845, target 0.98057, 0.98323
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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