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EURUSD: low order

2023-05-23
820
Fundamental analysis:

EUR/USD remained volatile around 1.08120, and the inflation rate in the euro zone remained high. The European Central Bank may need to take additional monetary policy measures to control it. Whether the official represents the ECB's broad hawkishness remains to be seen.

EURUSD—4-hour K-line chart shows:



Brief technical analysis:

Looking at the 4-hour chart: the short-term decline is weak and the order is shifting. Although the bullish momentum of the market has gradually emerged, it is still in a weak position. The MACD indicator is in the bearish area to maintain the order and move up, and the RSI indicator is hovering weakly below the 50 balance line;

Resistance levels: 1.08334 1.08539

Support levels: 1.07793 1.07589

Trading strategy: Bullish above 1.08024, target 1.08334 1.08539
Alternative strategy: bearish below 1.08024, target 1.07793 1.07589

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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