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EURUSD: low volatility
2023-06-01
757
Fundamental analysis:
The euro remained volatile around 1.06880 against the U.S. dollar. The semi-annual "Financial Stability Review" released by the European Central Bank stated that the European Central Bank's efforts to combat stubbornly high inflation have exposed the fragility of the financial system, which is becoming more and more difficult to ignore. .
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term dynamics remain low and fluctuate slowly downward. Although the short-term decline has weakened, the downward trend remains, and the market is shrouded in bearish sentiment. The MACD indicator is in the bearish area and maintains consolidation, and the RSI indicator is hovering weakly below the 50 balance line;
Resistance levels: 1.07263 1.07502
Support levels: 1.06663 1.06450
Trading strategy: bearish below 1.07050, target 1.06663 1.06450
Alternative strategy: Bullish above 1.07050, target 1.07263 1.07502
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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