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EURUSD: Higher lows
2023-07-30
735
Fundamental analysis:
The euro remained volatile around 1.10224 against the U.S. dollar, and Muller, the European Central Bank's management committee: the short-term GDP outlook is worse than it was a few months ago. The rate hikes so far have clearly had an impact. At current interest rate levels, the ECB's decision is no longer straightforward.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bulls are pulling up strongly at a low level, the bulls in the market are constantly moving upwards, and there is a trend of continuing to rise in the short term, the MACD indicator is in the bearish area and remains in order, and the RSI indicator is hovering weakly below the 50 balance line;
Resistance levels: 1.10431 1.10632
Support levels: 1.09898 1.09688
Trading strategy: Bullish above 1.10092, target 1.10431 1.10632
Alternative strategy: bearish below 1.10092, target 1.09898 1.09688
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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