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EURUSD: low move up
2023-05-21
754
Fundamental analysis:
The euro remained volatile near 1.08078 against the U.S. dollar, as the European Central Bank is stepping up its review of lenders' liquidity reserves and may impose stricter requirements on individual companies later this year.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the momentum of low-level bulls remains volatile and rising, short-term bullish sentiment emerges, the bulls in the market reverse and move up strongly, the MACD indicator is in the short area and moves up, and the RSI indicator is in a weak order below the 50 balance line;
Resistance levels: 1.08233 1.08409
Support levels: 1.07792 1.07586
Trading strategy: Bullish above 1.07981, target 1.08233 1.08409
Alternative strategy: bearish below 1.07981, target 1.07792 1.07586
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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