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EURUSD: low volatility
2023-01-06
1048
Fundamental analysis:
EUR/USD remained volatile around 1.05205. PPI data in the Eurozone in November: The decline was mainly related to the energy sector, and intermediate products also showed a marginal decline. Elsewhere, prices of consumer durables, capital goods and non-durables all rose. Excluding energy, prices across the sector actually rose 0.1%.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: After the short-term momentum fell sharply, it fluctuated at a low level, and the market was shrouded in bearish sentiment. The short-term decline may continue, and the market as a whole is in a weak position. The MACD indicator is in the short-term area and the RSI indicator is in the short-term area.
Long-short turning point: 1.05296
Suppression: 1.05439, 1.05591
Support: 1.05057, 1.04930
Trading strategy: bearish below 1.05296, target 1.05057, 1.04930
Alternative strategy: Bullish above 1.05296, target 1.05439, 1.05591
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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