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EURUSD : The rebound is still weak
2022-08-28
1144
Fundamental analysis:
Some ECB policymakers want to discuss raising interest rates by 75 basis points at their September policy meeting, even if recession risks loom as the inflation outlook deteriorates, five sources said. The European Central Bank raised its benchmark interest rate by 50 basis points to zero last month in an unexpectedly large move, and the next hike of the same magnitude has already been priced in.
EURUSD daily chart
A brief technical analysis:
From the daily chart: the short-term exchange rate rebounded and fell rapidly, the MACD was running below the 0 axis and the volume energy was devolving to the 0 axis, and the RSI was hovering at a low level. It is expected that the short-term exchange rate will likely further decline after a rebound.
Long and short turning point: 1.0150
Suppression bit: 1.0400 1.0600
Support level: 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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