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EURUSD: Consolidating high
2022-11-25
1252
Fundamental analysis:
The euro remained volatile around 1.04088 against the dollar, and the European Parliament issued an announcement approving the provision of 18 billion euros in aid loans to Ukraine in 2023 to help Ukraine rebuild. The 18 billion euro loan will cover half of Ukraine's needs in 2023, the announcement said. Funding will be used primarily to support public services and restore critical infrastructure.
EURUSD EURUSD—4-hour K-line chart shows:
A brief technical analysis:
Looking at the 4-hour chart: the bullish momentum is in a narrow range near the previous high, the market bullish sentiment continues to emerge, and it is hovering at a high level in the short term, the MACD indicator is in the bullish area, and the RSI indicator is hovering in the bullish area;
Long-short turning point: 1.03723
Suppression: 1.04374, 1.04767
Support: 1.03306, 1.02861
Trading strategy: bullish above 1.03723, target 1.04374, 1.04767
Alternative strategy: bearish below 1.03723, target 1.03306, 1.02861
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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