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EURUSD: low volatility

Fundamental analysis:

EUR/USD remained volatile around 1.08067, European Central Bank Governing Council Vujcic: The euro zone economy has basically stagnated. Core inflation has likely peaked. It's unclear whether rates are already restrictive enough. There are currently no signs of a real recession. I still think a soft landing for the economy is doable.

EURUSD—4-hour K-line chart shows:

Brief technical analysis:

Looking at the 4-hour chart: the short-term consolidation after the short-term momentum moved down, the market's short-sentiment weakened, but the overall situation is still hovering at a low level, the MACD indicator is in the short-term area for low-level consolidation, and the RSI indicator is hovering weakly below the 50 balance line;

Resistance levels: 1.08337 1.08517

Support levels: 1.07897 1.07762

Trading strategy: bearish below 1.08157, target 1.07897 1.07762
Alternative strategy: Bullish above 1.08157, target 1.08337 1.08517

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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