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EURUSD: Fluctuating and rising

Fundamental analysis:

The EUR/USD remained volatile around 1.09225. The economic sentiment index in the euro zone in August was 93.3, compared with the expected 93.7 and the previous value was 94.5. The final value of the consumer confidence index in the euro area in August was -16, the expected value was -16, and the previous value was -16. The August industrial climate index in the euro zone was -10.3, expected -9.9, and the previous value was -9.4.

Euro USD EURUSD - 4-hour K-line chart shows:

Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum continues to fluctuate and rise, the short-term bullish sentiment continues, the market bulls continue to rise, the MACD indicator is in the bullish zone and continues to move upward, and the RSI indicator is hovering weakly above the 50 equilibrium line;

Resistance level: 1.09396 1.09560

Support level: 1.08940 1.08782

Trading strategy: Bullish above 1.09126, target 1.09396 1.09560
Alternative strategy: bearish below 1.09126, target 1.08940 1.08782

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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