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EURUSD: high volatility

2023-01-17
498
Fundamental analysis:

EUR/USD remained volatile around 1.08219. The European Central Bank will focus on whether the core inflation continues to cool down. Before the core inflation starts to decline, the European Central Bank will talk about policy adjustments cautiously.

EURUSD—4-hour K-line chart shows:



Brief technical analysis:

Looking at the 4-hour chart: High short-term volatility, market bullish momentum weakens, bearish sentiment has signs of waiting for an opportunity to enter the market, MACD indicator is in the bullish zone and slowly retreating, RSI indicator is hovering above the 50 balance line;

Long-short turning point: 1.08141

Suppression: 1.08405, 1.08619
Support: 1.07984, 1.07763

Trading strategy: Bullish above 1.08141, target 1.08405, 1.08619
Alternative strategy: bearish below 1.08141, target 1.07984, 1.07763

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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