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EURUSD: High rise
2023-04-14
890
Fundamental analysis:
The EUR/USD remained oscillating around 1.10459. The final CPI in Germany in March was consistent with the initial value. The decline in the overall annual inflation rate in March was largely due to the base effect. Core inflation remains an issue, which will keep the ECB tightening monetary policy, at least for now.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high-level long-term momentum is rising strongly, the short-term bullish sentiment remains, the market bulls continue to climb, the MACD indicator is in the long-term area and the RSI indicator is hovering at a high level in the long-term area;
Resistance levels: 1.10638 1.10833
Support levels: 1.10181 1.10000
Trading strategy: Bullish above 1.10356, target 1.10638 1.10833
Alternative strategy: bearish below 1.10356, target 1.10181 1.10000
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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