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EURUSD: high order
2022-12-22
1135
Fundamental analysis:
EUR/USD remained volatile around 1.06119, and the European Central Bank's increasingly hawkish attitude in raising interest rates has become an important cornerstone for supporting the euro. As the Western Christmas holiday is approaching and approaching the end of the year, trading in the foreign exchange market has begun to become less active. EUR/USD fluctuated within a narrow range of 20 to 30 pips around 1.06 for several consecutive trading days recently.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: high-level and wide-ranging shocks, the short-term momentum of the market remains weak, and there are still signs of a slow downward trend in the short term. The MACD indicator is hovering weakly on the upper side of the 0 axis, and the RSI indicator is weakly finishing near the 50 balance line;
Long-short turning point: 1.06226
Suppression: 1.06560, 1.06834
Support: 1.05856, 1.05594
Trading strategy: bearish below 1.06226, target 1.05856, 1.05594
Alternative strategy: Bullish above 1.06226, target 1.06560, 1.06834
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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