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EURUSD: wide swing up

2022-09-09
423
Fundamental analysis:

EUR / USD remained at 0.99937 with shock. The European Central Bank raised all three major interest rates by 75 basis points, which was in line with market expectations and the first significant interest rate increase of 75 basis points since 1999.


EURUSD - 4-hour K-line chart shows:




Technical analysis:


According to the 4-hour chart, the low-level and wide-range shocks moved up slowly, and the market's multi headed power began to emerge. The MACD index was arranged on the upper side of the 0 axis, and the RSI index was hovering on the 50 equilibrium line;


Long short turning point: 0.99807


Pressing position: 1.00170, 1.00416


Support position: 0.99579, 0.99321


Trading strategy: bullish above 0.99807, targeting 1.00170 and 1.00416


Alternative strategy: bearish below 0.99807, target 0.99579, 0.99321

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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