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EURUSD: high volatility
2023-01-16
937
Fundamental analysis:
EUR/USD remained volatile around 1.08290. European Central Bank officials continued to send out hawkish messages, calling for further interest rate hikes. The ECB's firm attitude towards raising interest rates also gave corresponding support to the euro.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: high short-term shocks, short-term momentum has signs of waiting for an opportunity to enter the market, MACD indicator is hovering at a high level in the bullish area, and RSI indicator is in the bullish area for consolidation;
Long-short turning point: 1.08376
Suppression: 1.08636, 1.08841
Support: 1.08078, 1.07839
Trading strategy: bearish below 1.08376, target 1.08078, 1.07839
Alternative strategy: Bullish above 1.08376, target 1.08636, 1.08841
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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