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EURUSD: high move up
2022-12-09
1160
Fundamental analysis:
The euro remained volatile around 1.05547 against the dollar, and given that any recession in the euro zone is likely to be short-lived and inflation will remain above target even in 2025, officials should quickly raise interest rates to a level sufficient to cool economic activity .
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum is rising at a high level, and it will maintain a trend of rising in the short term. The previous high is close at hand, and the breakout is imminent. The MACD indicator is finishing on the upper side of the 0 axis, and the RSI indicator is hovering weakly at the upper side of the 50 balance line;
Long-short turning point: 1.05429
Suppression: 1.05741, 1.05943
Support: 1.05193, 1.04958
Trading strategy: Bullish above 1.05429, target 1.05741, 1.05943
Alternative strategy: bearish below 1.05429, target 1.05193, 1.04958
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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