EURUSD: high volatility

Fundamental analysis:

EUR/USD remained volatile around 1.05359. The European Central Bank's monetary policy decision in December has more uncertainties than before, and there are more issues to be decided. Markets are pricing in the ECB's surprise third consecutive rate hike of 75 basis points. Judging from money market pricing, the market is generally inclined to raise interest rates by 50 basis points, because the European Central Bank hopes to slow down the pace of the 75 basis point hike in October.

EURUSD—4-hour K-line chart shows:

Brief technical analysis:

Looking at the 4-hour chart: High short-term wide fluctuations, short sellers have signs of entering the market, MACD indicator is weakly finishing on the upper side of the 0 axis, and RSI indicator is weakly hovering near the 50 balance line;

Long-short turning point: 1.05526

Suppression: 1.05741, 1.05943

Support: 1.05193, 1.04957

Trading strategy: bearish below 1.05526, target 1.05193, 1.04957

Alternative strategy: Bullish above 1.05526, target 1.05741, 1.05943