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EURUSD: Weak shock moves up
2022-10-19
1070
Fundamental analysis:
EURUSD remained volatile at around 0.98462. The euro area faced double difficulties of high inflation and low growth, including the possibility of technical recession.
EUR USD EURUSD - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the bull drive maintains a narrow range of shocks and slowly moves upward. The market bullish sentiment continues. The bull drive shows signs of continuing to move upward. The MACD index hovers above the 0 axis, and the RSI index is at the 50 equilibrium line. The market is weak;
Empty turning point: 0.98364
Pressing: 0.98752, 0.99089
Support: 0.98105, 0.97837
Trading strategy: bullish above 0.98364, target 0.98752, 0.99089
Alternative strategy: bearish at 0.98364, target 0.98105, 0.97837
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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