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EURUSD: There is still room for a rebound
2022-09-30
1403
Fundamental analysis:
The euro rose 0.7% to 0.9804 against the dollar after data showed that economic sentiment in the euro zone fell sharply and more than expected in September, as business and consumer confidence fell and they were also pessimistic about inflation trends in the coming months.
EURUSD EURUSD daily chart
A brief technical analysis:
From the daily chart: the short-term rebounded rapidly, the MACD was running below the 0-axis but the volume continued to shrink slightly below the 0-axis of volume and energy, and the RSI stopped falling and rebounded.
Long and short turning point: 0.9950
Suppression bit: 1.0150 1.0400
Support level: 0.9750 0.9550
Trading strategy: bearish below 0.9950, target 0.9750, 0.9550
Alternative strategy: bullish above 0.9950, target 1.0150, 1.0400
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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