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EURUSD: high shock
2022-12-05
1235
Fundamental analysis:
The euro remained volatile around 1.05350 against the U.S. dollar. European Central Bank Vice President Guindos: The economic slowdown will not be as severe as expected a few weeks ago. Inflation data for November was good news. Various indicators point to a lessening of the intensity of the economic slowdown. Inflation in the euro area will be around 7% until mid-2023.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
The 4-hour chart: high short-term shocks, bullish momentum is still at a high level, short-term bullish sentiment continues, MACD indicator is at a high level in the bullish area, and RSI indicator is hovering above the 50 balance line;
Long-short turning point: 1.05237
Suppression: 1.05580, 1.05799
Support: 1.05026, 1.04845
Trading strategy: Bullish above 1.05237, target 1.05580, 1.05799
Alternative strategy: bearish below 1.05237, target 1.05026, 1.04845
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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