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EURUSD: high shock

Fundamental analysis:

EUR/USD remained volatile around 1.06433. The market expects that the European Central Bank will not make too many surprises in terms of monetary policy decisions. It is expected that the market's reaction will depend on the hawkishness of Lagarde's press conference. In line with consensus expectations, the ECB is expected to raise interest rates by 50 basis points next week, bringing the deposit rate to 3.00%.

EURUSD—4-hour K-line chart shows:

Brief technical analysis:

Looking at the 4-hour chart: the high level has risen sharply in the short term and then retreated, showing a trend of huge shocks. The short-term bullish sentiment is good. The bullish momentum of the MACD index maintains the shock and moves up to the upper side of the 0 axis, and the RSI index is on the upper side of the 50 balance line;

Resistance levels: 1.06563 1.06687

Support levels: 1.06227 1.06099

Trading strategy: Bullish above 1.06348, target 1.06563 1.06687
Alternative strategy: bearish below 1.06348, target 1.06227 1.06099

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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