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EURUSD: high volatility
2023-06-23
755
Fundamental analysis:
The euro remained volatile near 1.09659 against the U.S. dollar. The market expects the European Central Bank to cut interest rates by a total of 150 basis points in 2024, while the market generally expects a 75 basis point rate cut at a higher level.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: high short-term shocks and retracements, the market as a whole is showing signs of short-term downward movement, the MACD indicator is in the long-term area to maintain consolidation, and the RSI indicator is hovering weakly above the 50 balance line;
Resistance levels: 1.09876 1.10076
Support levels: 1.09314 1.09087
Trading strategy: bearish below 1.09659, target 1.09314 1.09087
Alternative strategy: Bullish above 1.09659, target 1.09876 1.10076
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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