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EURUSD: High rise
2023-05-04
802
Fundamental analysis:
The euro remained volatile around 1.10569 against the U.S. dollar. European inflation rose in April for the first time since September last year. The Eurostat report showed that the more closely watched core inflation indicator fell slightly. have uncertain effects.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the momentum of the bulls remains volatile and rising, the short-term bullish sentiment remains, the bulls in the market continue to rise upwards, the MACD indicator is in the bullish area and moves up, and the RSI indicator is on the side of the 50 balance line and slowly moves up;
Resistance levels: 1.10686 1.10784
Support levels: 1.10371 1.10269
Trading strategy: Bullish above 1.10493, target 1.10686 1.10784
Alternative strategy: bearish below 1.10493, target 1.10371 1.10269
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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