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EURUSD: low down
2023-08-17
759
Fundamental analysis:
EUR/USD remained oscillating around 1.08785, the second quarter GDP of the euro area was revised to 0.6% annual rate, the revision was in line with initial expectations, which is a bit surprising considering how pessimistic the recent data has been.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term sentiment in the market continues to fluctuate downwards, the short-term decline continues, the market’s short-term trend remains, the MACD indicator is in the short-selling area and the RSI indicator is in the short-selling area and remains hovering;
Resistance levels: 1.09026 1.09193
Support levels: 1.08652 1.08519
Trading strategy: bearish below 1.08875, target 1.08652 1.08519
Alternative strategy: bullish above 1.08875, target 1.09026 1.09193
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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