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EURUSD: high volatility
2023-01-20
955
Fundamental analysis:
The euro remained volatile around 1.08176 against the dollar, with many members of the ECB initially expressing a preference for a 75 basis point increase in the ECB's main interest rate, as inflation was clearly expected to be too high for too long, and current market expectations and financial conditions were clearly in line with Timely return to the ECB's 2% inflation target is inconsistent.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high level maintains range shocks in the short term, the market has not yet come out of the final direction guidance, short-term or entangled high level range consolidation, the MACD indicator is hovering weakly above the 0 axis, and the RSI indicator is weakly finishing near the 50 balance line;
Long-short turning point: 1.08176
Suppression: 1.08494, 1.08704
Support: 1.07937, 1.07707
Trading strategy: Bullish above 1.08176, target 1.08494, 1.08704
Alternative strategy: bearish below 1.08176, target 1.07937, 1.07707
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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