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EURUSD: high up

2022-12-15
1146
Fundamental analysis:
EUR/USD remained volatile around 1.06804, and the European Central Bank is currently expected to slow down its interest rate hike to 50 basis points at its meeting on Thursday. The ECB is expected to start shrinking its balance sheet by an average of 25 billion euros per month.

EURUSD—4-hour K-line chart shows:



Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum is moving upwards with high volatility, the market is still bullish, and there is no trend of stopping and moving upwards in the short term. The MACD indicator is slowly moving upwards in the bullish zone, and the RSI indicator is hovering at a high level in the bullish zone;
Long-short turning point: 1.06668
Suppression: 1.07045, 1.07292
Support: 1.06420, 1.06148
Trading strategy: Bullish above 1.06668, target 1.07045, 1.07292
Alternative strategy: bearish below 1.06668, target 1.06420, 1.06148

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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