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EURUSD: short term still weak
2022-08-25
1109
Fundamental analysis:
Marcel fratzscher, an influential economist at the German Economic Research Institute, said in an interview that the impact of Russia's invasion of Ukraine on Germany's economy will last for several years, adding that this may cause a loss of three percentage points in Germany's economic growth this year; It is worth noting that the Institute provides government advice on macroeconomic policies in Europe's largest economy
EURUSD daily chart
Technical analysis:
According to the daily chart, the short-term exchange rate will stop slightly after the rapid decline. MACD operates under the 0 axis and the volume can accelerate the release under the 0 axis. RSI will decline rapidly. It is expected that the short-term exchange rate will continue to decline after rebound.
Long and short turning point: 1.0150
Pressing position: 1.0400 1.0600
Support position: 0.9950 0.9800
Trading strategy: bearish below 1.0150, target 0.9950, 0.9800
Alternative strategy: bullish above 1.0150, target 1.0400, 1.0600
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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