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EURUSD: high move up
2023-04-05
904
Fundamental analysis:
EUR/USD remained volatile around 1.09548, as the market expects the European Central Bank to continue raising interest rates at a cautious pace until core inflation sees an improvement. The ECB will raise rates by 25 basis points in May and continue to hike at this more cautious pace in the late spring and summer of this year.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high level continues to fluctuate and rise in the short term, the bullish mood emerges, the market is constantly moving upwards, the MACD indicator is in the bullish zone and the RSI indicator is in the bullish zone.
Resistance levels: 1.09778 1.09969
Support levels: 1.09170 1.08910
Trading strategy: Bullish above 1.09422, target 1.09778 1.09969
Alternative strategy: bearish below 1.09422, target 1.09170 1.08910
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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