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EURUSD: high volatility
2022-12-28
1053
Fundamental analysis:
EUR/USD remained volatile around 1.06383. The ECB’s tightening cycle is only halfway through. In the future, it is necessary to adhere to the current QT policy for a long time to curb high inflation. And we have five policy meetings planned between now and July 2023, expecting 50 basis points of hikes between borrowing costs peaking next summer, a pretty decent pace of tightening.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum maintains a volatile upward trend, and the high level is short-term resistance. The bullish momentum of the market begins to weaken. The MACD indicator is on the upper side of the 0 axis, and the RSI indicator is hovering weakly on the upper side of the 50 balance line;
Long-short turning point: 1.06284
Suppression: 1.06519, 1.06683
Support: 1.06108, 1.05928
Trading strategy: Bullish above 1.06284, target 1.06519, 1.06683
Alternative strategy: bearish below 1.06284, target 1.06108, 1.05928
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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