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EURUSD: Bulls move up
2023-03-10
917
Fundamental analysis:
EUR/USD remained volatile around 1.05791, and the European Central Bank may not raise interest rates to the level expected by the market. The neutral rate of interest in Europe is very low, much lower than in the United States. The European economy is too fragile to weather the impact of a Fed rate hike.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum remains volatile and rising, the short-term bullish sentiment is shrouded, the bulls continue to rise, the MACD indicator is in the bearish area and slowly rising, and the RSI indicator is hovering around the 50 balance line;
Resistance levels: 1.05895 1.06006
Support levels: 1.05626 1.05515
Trading strategy: Bullish above 1.05729, target 1.05895 1.06006
Alternative strategy: bearish below 1.05729, target 1.05626 1.05515
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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