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EURUSD: High pullback
2022-12-19
1045
Fundamental analysis:
EUR/USD remained volatile around 1.05990. Despite the economic slowdown, the European Central Bank will continue to raise interest rates and keep interest rates at a level that is not conducive to economic growth next year. The European Central Bank raised its inflation forecasts for 2023 and 2024, and ECB President Christine Lagarde, in response to the "substantial" rate hike comment, indicated that there will be 50 basis points of future interest rate hikes.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high-level short-term short-term momentum began to retreat, and the market’s short-term sentiment began to show signs of waiting for an opportunity to enter the market. The MACD indicator was at a high level in the bullish area and went down, and the RSI indicator was near the 50 balance line and moved down;
Long-short turning point: 1.06070
Suppression: 1.06385, 1.06676
Support: 1.05679, 1.05347
Trading strategy: bearish below 1.06070, target 1.05679, 1.05347
Alternative strategy: Bullish above 1.06070, target 1.06385, 1.06676
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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