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EURUSD: high volatility

2023-01-19
529
Fundamental analysis:

EUR/USD remained oscillating around 1.07941. European Central Bank Chief Economist Lian En: The European Central Bank needs to bring interest rates into a restrictive range. With interest rates currently at "roughly" neutral, we need further rate hikes. After raising rates by 50 basis points in February, it may choose to raise rates by 25 basis points in March.

EURUSD—4-hour K-line chart shows:



Brief technical analysis:

Looking at the 4-hour chart: the high-level short-term dynamics fluctuated and retreated, and the market’s short-term sentiment began to emerge slowly. The MACD indicator was hovering above the 0 axis, and the RSI indicator was hovering weakly near the 50 balance line;

Long-short turning point: 1.07967

Suppression: 1.08184, 1.08405
Support: 1.07707, 1.07497

Trading strategy: bearish below 1.07967, target 1.07707, 1.07497
Alternative strategy: Bullish above 1.07967, target 1.08184, 1.08405

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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