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EURUSD: Bears down

Fundamental analysis:

EUR/USD remained volatile around 1.05775. Inflationary pressures in the euro zone have begun to ease, including the most important core inflation, but the European Central Bank will not stop raising interest rates until it is sure that inflation will fall back to 2%.

EURUSD—4-hour K-line chart shows:

Brief technical analysis:

Looking at the 4-hour chart: the short-term momentum remains volatile and moves downward, the short-term decline may continue, the market as a whole is in a weak position and moves downward, the MACD indicator is in the short-selling area and remains in order, and the RSI indicator is hovering below the 50 balance line;

Long-short turning point: 1.05864

Suppression: 1.06036, 1.06218
Support: 1.05623, 1.05463

Trading strategy: bearish below 1.05864, target 1.05623, 1.05463
Alternative strategy: Bullish above 1.05864, target 1.06036, 1.06218

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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