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EURUSD: high move up
2023-06-22
702
Fundamental analysis:
The euro remained volatile around 1.09852 against the U.S. dollar. The European Central Bank will start to cut interest rates after the Fed begins to cut interest rates. Starting from the second quarter of next year, what is important for the euro is that the European Central Bank will cut interest rates lower than the Fed.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high short-term shocks move up, the market’s bullish sentiment continues, and there is a trend of continuing to move upward in the short term. The MACD indicator is in the long-term zone to maintain consolidation, and the RSI indicator is in the long-term zone and continues to rise;
Resistance levels: 1.10076 1.10262
Support levels: 1.09551 1.09314
Trading strategy: Bullish above 1.09768, target 1.10076 1.10262
Alternative strategy: bearish below 1.09768, target 1.09551 1.09314
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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