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EURUSD: high volatility

2023-06-14
753
Fundamental analysis:

The euro remained volatile around 1.07926 against the U.S. dollar. The German ZEW economic index: This data was lower than overall expectations, but at least the sentiment index improved slightly, exceeding expectations for further deterioration.

EURUSD—4-hour K-line chart shows:



Brief technical analysis:

Looking at the 4-hour chart: the high-level bullish momentum fluctuates after rising, the market’s bullish sentiment has weakened slightly, but the bullish trend remains, the MACD indicator is in the high-level order in the bullish zone, and the RSI indicator is in the bullish zone to maintain hovering;

Resistance levels: 1.08062 1.08189

Support levels: 1.07692 1.07555

Trading strategy: Bullish above 1.07837, target 1.08062 1.08189
Alternative strategy: bearish below 1.07837, target 1.07692 1.07555

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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