EURUSD: Shock recovery

EUR/USD remained volatile around 1.08667, as banks in the euro zone tightened credit standards sharply in the fourth quarter. Corporate credit standards have been tightened the most since the 2011 sovereign debt crisis. Banks expect credit standards to continue tightening in the first quarter of this year. Rising interest rates lead to a sharp drop in demand for loans. Loan demand will fall further in the first quarter of the year, with a "strong net decline" expected in household lending.

EURUSD—4-hour K-line chart shows:

Looking at the 4-hour chart: the bullish momentum maintains a narrow range of shocks and rebounds, short-term bullish sentiment emerges, the bullish momentum in the market continues to enter, the MACD indicator is hovering weakly below the 0 axis, and the RSI indicator is weakly finishing near the 50 balance line;

Long-short turning point: 1.08612

Suppression: 1.08841, 1.08983

Support: 1.08468, 1.08320

Trading strategy: Bullish above 1.08612, target 1.08841, 1.08983

Alternative strategy: bearish below 1.08612, target 1.08468, 1.08320