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EURUSD: High rise
2023-07-11
760
Fundamental analysis:
The euro remained volatile near 1.10000 against the U.S. dollar. The Sentix investor confidence index in the euro zone fell more than expected in July, hitting the lowest point since the European energy crisis in November last year. The reason is that the euro zone is still in recession and there is no sign that the situation will improve.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high-level bullish momentum continues to fluctuate and rise, the short-term bullish sentiment continues, the market bulls continue to climb, the MACD indicator is in the bullish zone and continues to rise, and the RSI indicator is in the bullish zone and fluctuates at a high level;
Resistance levels: 1.10108 1.10210
Support levels: 1.09850 1.09732
Trading strategy: Bullish above 1.09956, target 1.10108 1.10210
Alternative strategy: bearish below 1.09956, target 1.09850 1.09732
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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