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EURUSD: high retracement
2023-01-18
992
Fundamental analysis:
EUR/USD remained volatile around 1.07902. The European Commission announced that it paid Ukraine the first loan of 18 billion euros in macro-financial loans, amounting to 3 billion euros. In 2022, the EU decided to provide Ukraine with a total of 18 billion euros in macro-financial loans in installments throughout 2023. On January 16 this year, the two parties signed a loan memorandum of understanding.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the market fluctuated at a high level and retreated, the short-term short-term momentum continued to move downward, and there were signs of continued downward movement in the short-term, the MACD was in the bullish area and slowly descending, and the RSI index was hovering around the 50 equilibrium line;
Long-short turning point: 1.07967
Suppression: 1.08184, 1.08405
Support: 1.07707, 1.07497
Trading strategy: bearish below 1.07967, target 1.07707, 1.07497
Alternative strategy: Bullish above 1.07967, target 1.08184, 1.08405
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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