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EURUSD: Bulls move up
2023-03-07
890
Fundamental analysis:
EUR/USD remained volatile around 1.06761. Influential members of the ECB Council have clearly linked future interest rate trends with changes in core inflation. The ECB is expected to raise the deposit rate to above 3.5%.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum remains volatile and upward, the short-term bullish trend remains, the market as a whole continues to rise, the MACD indicator is hovering above the 0 axis, and the RSI indicator is on the side of the 50 equilibrium line for weak consolidation;
Resistance levels: 1.06933 1.07099
Support levels: 1.06502 1.06341
Trading strategy: Bullish above 1.06673, target 1.06933 1.07099
Alternative strategy: bearish below 1.06673, target 1.06502 1.06341
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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