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Europe and the United States: bearish shock downward
2022-07-07
1102
Fundamental analysis:
EUR / USD continued to decline to around 101.774, and there were objections to the European Central Bank's plan to support heavily indebted member countries in the euro zone. In addition, the growth of business activities in the euro zone slowed sharply in June, and demand uncertainty increased in the second half of the year. It is estimated that the GDP growth rate of the eurozone in 2022 will be 2.7%, 270 basis points lower than that in 2021 and 1.9% in 2023.
EURUSD - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the short power continued to fluctuate and descend near the downtrack of the Bollinger belt index, the Bollinger belt index continued to close, the MACD index was in the short area, maintained the oscillation and moved downward, and the RSI index was out of the low oversold area 15, hovering on the online side;
Long short turning point: 1.01978
Pressing position: 1.02452, 1.02913
Support position: 1.01292, 1.00870
Trading strategy: bearish below 1.01978, targets 1.01292, 1.00870
Alternative strategies: bullish above 1.01978, targets 1.02452, 1.02913
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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