EURUSD remained volatile around 1.02140. The euro area economy contracted in October. New orders and expected forward-looking indicators indicate that the economic downturn will further deteriorate.
EUR USD EURUSD - 4-hour K line chart shows:
The 4-hour chart shows that there is a sign of continued upward movement after the bulls' driving power has risen rapidly. The short-term bullish mood is shrouded, and the market bulls maintain their upward trend. The MACD index is at the high level in the bulls' region, and the RSI index is at the shock in the bulls' region;
Empty turning point: 1.02020
Pressing: 1.02451, 1.02853
Support: 1.01,714, 1.01,408
Trading strategy: bullish above 1.02020, target 1.02451, 1.02853
Alternative strategy: bearish under 1.02020, target 1.01714, 1.01408