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EURUSD: High rise
2023-04-25
824
Fundamental analysis:
EUR/USD remained volatile around 1.10450, European Central Bank Governing Council Wunsch: The European Central Bank will continue to raise interest rates until wage growth slows down. Investors are underestimating the rate peak in the euro zone. I wouldn't be surprised if deposit rates hit 4%. There is no sign that we are overdoing it. Haven't seen inflation moving in the right direction yet.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the momentum of the bulls continues to fluctuate and rise, and the short-term bullish sentiment is shrouded. The bulls in the market continue to climb and are about to break through the previous high point.
Resistance levels: 1.10593 1.10746
Support levels: 1.10205 1.10057
Trading strategy: bullish above 1.10344, target 1.10593 1.10746
Alternative strategy: bearish below 1.10344, target 1.10205 1.10057
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