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EURUSD: high order

2022-12-21
1197
Fundamental analysis:
EUR/USD remains volatile around 1.05265. The economic recession in Europe's largest economy may be much milder than many economists feared a few weeks ago. The European Central Bank continues to raise interest rates. The economic blow to Europe is still acceptable for now inside.

EURUSD—4-hour K-line chart shows:



Brief technical analysis:
The 4-hour chart: After the high short-term consolidation, the bullish momentum shows signs of slowly moving upwards, the MACD indicator is in a narrow range on the upper side of the 0 axis, and the RSI indicator is hovering around the 50 balance line;
Long-short turning point: 1.06095
Suppression: 1.06560, 1.06834
Support: 1.05787, 1.05488
Trading strategy: Bullish above 1.06095, target 1.06560, 1.06834
Alternative strategy: bearish below 1.06095, target 1.05787, 1.05488

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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