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EURUSD: low move down

2023-05-24
770
Fundamental analysis:

EUR/USD remained volatile around 1.07687, European Central Bank Vice President Guindos: Despite the pressure in the banking sector in March, the non-bank financial sector has remained relatively stable in recent months, with structural risks of liquidity mismatch and leverage ratio Still high, banking linkages to non-banks increase the likelihood of (risky) contagion.

EURUSD—4-hour K-line chart shows:



Brief technical analysis:

Looking at the 4-hour chart: the low position maintains a narrow range in the short term and then moves down again. The short-term short-term momentum has once again emerged downward, and the market is shrouded in bearish sentiment.

Resistance levels: 1.07967 1.08146

Support levels: 1.07510 1.07382

Trading strategy: bearish below 1.07788, target 1.07510 1.07382
Alternative strategy: Bullish above 1.07788, target 1.07967 1.08146

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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