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EURUSD: Falling highs
2023-04-26
844
Fundamental analysis:
EUR/USD remained oscillating around 1.09714, Lane, chief economist of the European Central Bank: the current data shows that we must raise interest rates again at the next meeting (May 4). Now is not the right time to stop raising interest rates. Rate action after May will depend on economic data. The European Central Bank's March GDP growth forecast is still reasonable.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high-level short-term momentum has fallen rapidly. Although there is a short-term stop, the downward trend remains, and the market is shrouded in bearish sentiment. The MACD indicator is in the bullish area and continues to decline.
Resistance levels: 1.09928 1.10126
Support levels: 1.09553 1.09419
Trading strategy: bearish below 1.09780, target 1.09553 1.09419
Alternative strategy: Bullish above 1.09780, target 1.09928 1.10126
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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