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The expectation of the European Central Bank to raise interest rates strengthened, and the euro remained weak against the US dollar
2022-05-24
847
Fundamental analysis:
The euro / dollar rose 1.2% to an intraday high of 1.0697, the highest since April 26. A blog post by ECB president Lagarde reinforced market expectations that the bank would start raising interest rates in July; At the same time, the dollar faced downward pressure as the rise in global stock markets boosted risk sentiment
EURUSD # daily chart:
Technical analysis: the daily moving average began to turn around, and the exchange rate continued to rise. MACD operated below the 0 axis, but the volume could continue to shrink under the 0 axis, and RSI continued to strengthen. It is expected that the short-term exchange rate probability will further decline after the rebound.
Long short turning point: 1.0800
Pressing position: 1.0960 to 1.1140
Support position: 1.0630 1.0460
Trading strategy: bearish below 1.0800, target 1.0630, 1.0460
Alternative strategy: bullish above 1.0800, target 1.0960, 1.1140
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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