The euro remained volatile near 1.07369 against the U.S. dollar, and Goldman Sachs raised its forecast for economic growth in the euro zone in 2023 to 0.6 percent from a previous contraction of 0.1 percent. The ECB said banks did not use the overnight lending facility to borrow money, depositing 4,108.78 billion euros.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
The 4-hour chart: After the bullish momentum pulled up strongly, the high level fluctuated within a narrow range. The market’s bullish upward trend has insufficient follow-up momentum, but it is still in the process of finishing at a high level.
Long-short turning point: 1.07288
Suppression: 1.07574, 1.07750
Support: 1.07091, 1.06904
Trading strategy: Bullish above 1.07288, target 1.07574, 1.07750
Alternative strategy: bearish below 1.07288, target 1.07091, 1.06904