CM Trade

Download APP to receive bonus

GET

EURUSD: the multi-level ladder is surging

2022-09-12
478
Fundamental analysis:

EURUSD remained volatile around 1.00429. The European Central Bank raised interest rates by 75bp in September and made it clear that the process of interest rate increase would continue in the future. Against the background that inflation pressure may further rise and there is a high degree of uncertainty (European CPI may break 10% in the year), the European Central Bank may also implement a "Volcker style" interest rate increase in the year to suppress inflation with continuous large-scale and more than expected tightening. The interest rate meeting in October also has the possibility of raising interest rates by 75bp.


EURUSD - 4-hour K-line chart shows:




Technical analysis:


According to the 4-hour chart, the low-end bulls rose in a step-by-step manner, short-term bullish sentiment poured in, the high-end continued to fluctuate, the MACD index was in the long end region, and the RSI index was in the 50 equilibrium line side weak hovering;


Long short turning point: 1.00295


Pressing position: 1.00612, 1.00782


Support position: 1.00087, 0.99898


Trading strategy: bullish above 1.00295, targeting 1.00612 and 1.00782


Alternative strategy: bearish below 1.00295, target 1.00087, 0.99898

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.

Free Access
Daily Trading Strategy
Download Now

CM Trade Mobile Application

Economics Calendar

More