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EURUSD: high volatility
2023-01-25
941
Fundamental analysis:
The euro remained volatile near 1.08826 against the U.S. dollar. The euro zone's private sector economy unexpectedly resumed growth in early 2023, but S&P economists believe that difficulties remain. The just-released PMI showed that the euro zone's private sector economy unexpectedly returned to growth in early 2023, boosting market hopes for a "soft landing" for the euro zone economy.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
The 4-hour chart: the high level fluctuated within a short period of time, and the bullish sentiment in the market began to weaken, but it was still hovering at a high level. The MACD indicator was in the bullish area, and the RSI indicator was hovering weakly on the side of the 50 balance line;
Long-short turning point: 1.08747
Suppression: 1.09103, 1.09348
Support: 1.08518, 1.08320
Trading strategy: Bullish above 1.08747, target 1.09103, 1.09348
Alternative strategy: bearish below 1.08747, target 1.08518, 1.08320
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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