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EURUSD: pulling up and retracing
2022-12-30
1010
Fundamental analysis:
EUR/USD remained oscillating around 1.06608. The euro zone is facing a very difficult economic situation, and the euro zone is experiencing a short and slight recession before the economy restarts in the second quarter of next year. The ECB is also continuing to tighten policy given that inflation remains high despite downward pressure on the economy.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
4-hour chart: bullish momentum continues to fluctuate and rise, short-term breakthrough highs and then retracement, but the market is still bullish, with a continued upward trend, MACD indicator is hovering above the 0 axis, and RSI indicator is at the 50 balance line. ;
Long-short turning point: 1.06503
Suppression: 1.06761, 1.06932
Support: 1.06328, 1.06167
Trading strategy: Bullish above 1.06503, target 1.06761, 1.06932
Alternative strategy: bearish below 1.06503, target 1.06328, 1.06167
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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