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Monetary policy in the euro zone may become stricter from July
2022-06-08
816
Fundamental analysis:
EURUSD remained volatile around 1.06885. Consumers have been affected by the rise in prices, but many companies can also pass on the sharply rising costs to consumers and benefit from people's rush to buy goods and services before the price rise. However, this phase seems to be coming to an end, as consumers will eventually cut spending at some point, and monetary policy may become more stringent from July.
EURUSD - 4-hour K-line chart display:
Technical comments: it maintained a wide range of vibration in the Bollinger belt index channel for a long time, and the bears waited for the opportunity to enter. During this period, they repeatedly spied the nodes of the upper and lower rail sections. The Bollinger belt index continued to close, the MACD index was in a weak position near the 0 axis, and the RSI index was in a weak position below the 50 equilibrium line;
Multi empty turning point: 1.07041
Pressing position: 1.07322, 1.07595
Support position: 1.06598, 1.06275
Trading strategy: bearish below 1.07041, target 1.06598, 1.06275
Alternative strategy: bullish above 1.07041, target 1.07322, 1.07595
The above analysis is a personal point of view and is for reference only.
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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