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EURUSD: The bulls start to work
2022-10-26
1076
Fundamental analysis:
Before the European Central Bank meeting on Thursday, the euro rose to a 20 day high. The European Central Bank is expected to raise interest rates by 75 basis points at the meeting to control soaring inflation. The euro rose 0.87% against the US dollar in late trading to US $0.99595.
EURUSD daily chart
Technical analysis:
The daily chart shows that the short-term exchange rate continues to rise, the MACD crosses under the 0 axis and the volume can slightly increase on the 0 axis, and the RSI slowly recovers. It is expected that the short-term exchange rate will further rise.
Empty turning point: 0.9950
Pressing position: 1.0150 1.0400
Support position: 0.9750 0.9550
Trading strategy: bullish above 0.9950, target 1.0150, 1.0400
Alternative strategy: bearish below 0.9950, target 0.9750, 0.9550
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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