EURUSD remained volatile around 1.00429. The European Central Bank raised interest rates by 75bp in September and made it clear that the process of interest rate increase would continue in the future. Against the background that inflation pressure may further rise and there is a high degree of uncertainty (European CPI may break 10% in the year), the European Central Bank may also implement a "Volcker style" interest rate increase in the year to suppress inflation with continuous large-scale and more than expected tightening. The interest rate meeting in October also has the possibility of raising interest rates by 75bp.
EURUSD - 4-hour K-line chart shows:
According to the 4-hour chart, the low-end bulls rose in a step-by-step manner, short-term bullish sentiment poured in, the high-end continued to fluctuate, the MACD index was in the long end region, and the RSI index was in the 50 equilibrium line side weak hovering;
Long short turning point: 1.00295
Pressing position: 1.00612, 1.00782
Support position: 1.00087, 0.99898
Trading strategy: bullish above 1.00295, targeting 1.00612 and 1.00782
Alternative strategy: bearish below 1.00295, target 1.00087, 0.99898