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EURUSD: Low shock

Fundamental analysis:

The EURUSD remains volatile around 1.07963, and the European Central Bank is unlikely to support the euro at its meeting on September 14. He assessed the foreign exchange situation following the release of stubborn inflation data in the euro zone.

Euro USD EURUSD - 4-hour K-line chart shows:

Brief technical analysis:

Looking at the 4-hour chart: the short-term is at a low level and remains volatile, the overall bullish momentum in the market shows signs of waiting for opportunities to enter the market, the MACD indicator is in the short zone and remains volatile, and the RSI indicator is hovering weakly below the 50 equilibrium line;

Resistance level: 1.08083 1.08199

Support level: 1.07772 1.07662

Trading strategy: bullish above 1.07896, target 1.08083 1.08199
Alternative strategy: bearish below 1.07896, target 1.07772 1.07662

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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