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EURUSD: Consolidating high
2022-11-28
1255
Fundamental analysis:
EUR/USD oscillated around $1.04111, with a subdued outlook for Christmas sales in the euro zone, and any boost would not be enough to prevent a contraction in consumer spending in the fourth quarter. High prices in most traditional commodity segments, five consecutive quarters of falling real incomes and rock-bottom consumer confidence point to a disappointing Christmas sale.
EURUSD EURUSD—4-hour K-line chart shows:
A brief technical analysis:
From the 4-hour chart: the high level is short-term consolidation and translation, it has not broken through the previous high level, and the short-term or tangled high level is hovering. The MACD indicator is in a bullish area, and the RSI indicator is in a weak position on the 50 balance line;
Long-short turning point: 1.03954
Suppression: 1.04523, 1.04863
Support: 1.03572, 1.03231
Trading strategy: bullish above 1.03954, target 1.04523, 1.04863
Alternative strategy: bearish below 1.03954, target 1.03572, 1.03231
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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