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EURUSD: Wide finishing and translation

2022-09-20
1122
Fundamental analysis:

EURUSD remained volatile around 1.00181, and the Agency predicted that the possibility of the euro zone economy contracting for two consecutive quarters in the next 12 months was 80%, higher than the previous survey of 60%.


EUR USD EURUSD - 4-hour K line chart shows:




Technical analysis:


The 4-hour chart shows that: the market's high short power retreats and reorganizes, maintaining a wide range of shocks and translation, and the trend has not yet been guided in the final direction in the short term. The MACD indicator is in the short position and remains weak and moves upward to hover around the 0 axis, while the RSI indicator is in the 50 balanced line side for consolidation;


Empty turning point: 1.00340


Pressing position: 1.00586, 1.00858


Support position: 0.99917, 0.99683


Trading strategy: bearish under 1.00340, target 0.99917, 0.99683


Alternative strategy: bullish above 1.00340, target 1.00586, 1.00858

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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