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EURUSD: wide range

2023-01-31
969
Fundamental analysis:

EUR/USD remained oscillating around 1.08473, and the Eurozone economic sentiment index and industrial sentiment index continued to improve, but this is because last winter was very mild, which may bring false hope.

EURUSD—4-hour K-line chart shows:



Brief technical analysis:

4-hour chart: high short-term volatility, short market sentiment emerges, and begins to move down, short-term or continue to fluctuate downwards, MACD indicator is hovering weakly below the 0 axis, RSI indicator is weakly finishing below the 50 balance line;

Long-short turning point: 1.08533

Suppression: 1.08684, 1.08841
Support: 1.08320, 1.08178

Trading strategy: bearish below 1.08533, target 1.08320, 1.08178
Alternative strategy: Bullish above 1.08533, target 1.08684, 1.08841

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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