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EURUSD: high volatility
2023-07-12
773
Fundamental analysis:
EUR/USD remained oscillating around 1.10078, the European Central Bank's good news on inflation. Food inflation should moderate in the second half of 2023. The ECB interest rate is close to the high point, and then it will be stable at the high level. The ECB will need to hold terminal rates at the level for long enough.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
The 4-hour chart shows: the bullish momentum maintained a shock and then rose within a narrow range of high levels. The bullish sentiment in the market continued and continued to move upward after short-term consolidation.
Resistance levels: 1.10210 1.10320
Support levels: 1.09886 1.09765
Trading strategy: Bullish above 1.10018, target 1.10210 1.10320
Alternative strategy: bearish below 1.10018, target 1.09886 1.09765
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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