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EURUSD: weak order
2023-04-21
817
Fundamental analysis:
The euro remained volatile near 1.09667 against the U.S. dollar. The non-seasonally adjusted trade surplus of the euro zone in February was 4.6 billion euros, compared with a deficit of 9.4 billion euros in the same period last year. On a seasonally adjusted basis, the trade deficit was 100 million euros in February, a marked improvement from the 11.6 billion euro deficit in the previous month.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term is at a high level and weak, the market as a whole fluctuates in the short term, the bullish momentum has weakened, the MACD indicator is hovering below the 0 axis, and the RSI indicator is in a weak arrangement near the 50 auspicious star;
Resistance levels: 1.09847 1.10058
Support levels: 1.09445 1.09298
Trading strategy: Bullish above 1.09667, target 1.09847 1.10058
Alternative strategy: bearish below 1.09667, target 1.09445 1.09298
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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