The European Central Bank is likely to raise interest rates in July

Fundamental analysis:

EURUSD remained volatile around 1.05448. ECB policymakers generally believed that inflation remained high and higher than expected, increasing the risk of wage triggered a second round of price increases. The central bank ended all net asset purchases at the end of June, and the possibility of raising interest rates increased significantly in July. High energy prices are spreading to all sectors of the economy and making inflation more widespread and sustained. The core inflation index of the eurozone is well above the level of 2%.

EURUSD - 4-hour K-line chart shows:

Technical comments: the middle and upper rail section of the Bollinger belt index channel continued to fluctuate and rise, the high level reached the node near 1.06072, and the short-term short-term dynamic shock retreated. After touching the node near the middle rail of the Bollinger belt index, the Bollinger belt index showed a closing trend, continued to shake and move up, and the high level began to show signs of closing. The MACD index was in the high and weak retreat in the bull region, and the RSI index remained in the long region and moved down slowly;

Long short turning point: 1.05649

Pressing position: 1.05981, 1.06369

Support position: 1.05135, 1.04780

Trading strategy: bearish below 1.05649, target 1.05135, 1.04780

Alternative strategy: bullish above 1.05649, target 1.05981, 1.06369

The above analysis is a personal point of view and is for reference only.