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EURUSD: Bears down
2023-07-06
754
Fundamental analysis:
EUR/USD remained volatile around 1.08527, and the European Central Bank's consumer expectations survey showed further decline in inflation expectations, which may once again arouse strong market attention.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term momentum remains volatile and downward, the short-term decline may continue, the market's short-term sentiment continues to emerge, the MACD indicator is weakly finishing below the 0 axis, and the RSI indicator is weakly hovering below the 50 balance line;
Resistance levels: 1.08732 1.08854
Support levels: 1.08413 1.08303
Trading strategy: bearish below 1.08594, target 1.08413 1.08303
Alternative strategy: Bullish above 1.08594, target 1.08732 1.08854
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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