EURUSD: shock jerk

Fundamental analysis:

The euro against the dollar remained volatile around 1.04041, and the slowing inflation data in Europe provided reasons for those who hoped that the European Central Bank would slow down the pace of interest rate hikes. China has yet to express such sentiments, and still declares that suppressing inflation is its top priority. All of this still has to wait until the performance of Europe and the United States at the interest rate meeting in December before we can see the clear direction of the next step of the currency pair.

EURUSD—4-hour K-line chart shows:

Brief technical analysis:

Looking at the 4-hour chart: In the short term, the order is slowly moving down, and the bulls are rapidly entering the market to pull up. The MACD indicator is weak and hovering around the 0 axis, and the RSI indicator is in a weak order above the 50 balance line;

Long-short turning point: 1.03926

Suppression: 1.04402, 1.04833

Support: 1.03565, 1.03198

Trading strategy: Bullish above 1.03926, target 1.04402, 1.04833

Alternative strategy: bearish below 1.03926, target 1.03565, 1.03198