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EURUSD: low order
2023-03-09
891
Fundamental analysis:
The euro remained volatile around 1.05449 against the U.S. dollar. The GDP data of the euro zone in the fourth quarter was revised down from a quarter-on-quarter increase of 0.1% to a quarter-on-quarter flat rate, which will not affect the ECB's tightening path.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term momentum is low, the market as a whole is in a weak position, and the short-term decline may continue. The MADC indicator is in a weak position in the short area, and the RSI indicator is under the 50 balance line.
Resistance levels: 1.05631 1.05744
Support levels: 1.05321 1.05218
Trading strategy: bearish below 1.05511, target 1.05321 1.05218
Alternative strategy: Bullish above 1.05511, target 1.05631 1.05744
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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