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EURUSD: Lower lows
2023-05-14
831
Fundamental analysis:
The euro remained volatile around 1.08526 against the U.S. dollar, as regulators from the European Central Bank tend to be too loose in managing bank credit risk, especially for the worst-performing banks. For the riskiest banks, the ECB has failed to sufficiently ramp up supervisory measures, so that less risky banks may actually have higher capital requirements than riskier banks.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term momentum has fallen at a low level, the short-term decline has not stopped, the market is shrouded in bearish sentiment, the MACD indicator is in the bearish zone and continues to decline, and the RSI indicator is in the bearish zone and moves down at a low level;
Resistance levels: 1.08745 1.08871
Support levels: 1.08348 1.08217
Trading strategy: bearish below 1.08601, target 1.08348 1.08217
Alternative strategy: Bullish above 1.08601, target 1.08745 1.08871
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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