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Europe and the United States: Bears fell sharply
2022-07-06
1154
Fundamental analysis:
EUR/USD tumbled near $1.02627 as talk of an ECB rate hike rose, albeit with a bit of confusion over speed and timing. Markets are now pricing in a 25 basis point rate hike in July, but a rate hike of more than 25 basis points remains a problem.
EURUSD EURUSD—4-hour K-line chart shows:
A brief technical analysis:
Looking at the 4-hour chart: the bearish momentum continues to oscillate and fall near the lower track of the Bollinger Bands indicator, and the low level falls below the node near the lower track and begins to organize. The Bollinger Bands indicator continues to open its mouth, and the MACD indicator continues to oscillate and move downward in the bearish area. The indicator is in the bearish area and descends to the bottom of the weak finishing;
Long and short turning point: 1.02834
Suppression bit: 1.03173, 1.03501
Support levels: 1.02279, 1.01955
Trading strategy: bearish below 1.02834, target 1.02279, 1.01955
Alternative strategy: bullish above 1.02834, target 1.03173, 1.03501
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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