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EURUSD: low move down
2023-05-30
753
Fundamental analysis:
The euro remained volatile around 1.07066 against the U.S. dollar. The chief economist of the European Central Bank, Lane, played down concerns about core inflation. On the ECB side, there seems to be more uncertainty. what to do. The prospect of further rate hikes in the euro also seems less certain.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the market’s short-term momentum remains low and weak, and the short-term decline has not stopped. The market’s short-term sentiment remains, and the short-term trend will continue to move downward. weak finishing;
Resistance levels: 1.07356 1.07528
Support levels: 1.06940 1.06806
Trading strategy: bearish below 1.07163, target 1.06940 1.06806
Alternative strategy: Bullish above 1.07163, target 1.07356 1.07528
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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