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EURUSD: high order
2023-01-12
1070
Fundamental analysis:
The euro remained volatile near 1.07555 against the U.S. dollar, and Goldman Sachs raised its forecast. It now expects the GDP of the euro zone to grow by 0.6% this year, compared with the previous forecast of a contraction of 0.1%. The reasons for no longer seeing a recession in the euro area are due to the resilience of the euro area economy at the end of 2022 and the sharp drop in gas prices.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
The 4-hour chart shows: finishing in a narrow range at a high level, the bullish momentum is slowly rising, the market is bullish, and there are signs of continued upward movement in the short term. The MACD indicator is hovering at a high level in the bullish zone, and the RSI indicator is in the bullish zone.
Long-short turning point: 1.07489
Suppression: 1.07750, 1.07910
Support: 1.07295, 1.07091
Trading strategy: Bullish above 1.07489, target 1.07750, 1.07910
Alternative strategy: bearish below 1.07489, target 1.07295, 1.07091
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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