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EURUSD: wide range
2023-01-27
977
Fundamental analysis:
EUR/USD remained volatile around 1.08921, and the euro may continue to be well supported ahead of next week's ECB meeting. With President Lagarde emphasizing her intention to 'stay the course', the ECB meeting could see a 50bp hike and send a stronger message on the rate outlook.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: high short-term wide fluctuations, the market as a whole is in the short-term range consolidation, the short-term has not yet come out of the final direction guidance, the MACD indicator is in a narrow range of consolidation in the bullish area, and the RSI indicator is hovering weakly near the 50 balance line;
Long-short turning point: 1.09024
Suppression: 1.09200, 1.09370
Support: 1.08706, 1.08518
Trading strategy: bearish below 1.09024, target 1.08706, 1.08518
Alternative strategy: bullish above 1.09024, target 1.09200, 1.09370
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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