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EURUSD: The upper resistance gradually strengthens
2022-12-07
1141
Fundamental analysis:
The European Central Bank will raise interest rates more than previously expected, a development that will keep the euro stronger against the dollar. Intesa Sanpaolo revised its forecast for ECB interest rates to a 50 basis point hike at its next meeting on December 15, followed by 50 basis points in February and March.
EURUSD daily chart
Brief technical analysis:
Looking at the daily chart: the short-term exchange rate fell slightly, the MACD shrank slightly on the 0 axis, and the RSI peak began to weaken. It is expected that the short-term exchange rate will likely fall further. the
Long-short turning point: 1.0650
Suppression bit: 1.0880 1.1100
Support levels: 1.0400 1.0150
Trading strategy: Bullish above 1.0650, target 1.0880, 1.1100
Alternative strategy: bearish below 1.0650, target 1.0400, 1.0150
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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