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EURUSD: low move up

2023-08-29
710
Fundamental analysis:

EUR/USD remained volatile around 1.08187, and interest rates in the euro zone will not be cut soon. With inflation still high in France and across the Eurozone, a rate cut is unlikely in the short or medium term unless price increases reach reasonable levels.

EURUSD—4-hour K-line chart shows:



Brief technical analysis:

Looking at the 4-hour chart: the momentum of low-level bulls keeps oscillating and moving upward, short-term bullish sentiment emerges, the market bulls continue to move upward, the MACD indicator is in the bearish area and fluctuates upward, and the RSI indicator is hovering weakly below the 50 balance line;

Resistance levels: 1.28370 1.08556

Support levels: 1.07953 1.07790

Trading strategy: Bullish above 1.08128, target 1.28370 1.08556
Alternative strategy: bearish below 1.08128, target 1.07953 1.07790

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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