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EURUSD: low move down
2023-02-07
1099
Fundamental analysis:
EUR/USD remained volatile around 1.07253. Eurostat said that retail sales in the 19 countries in the euro zone fell by 2.7% month-on-month and 2.8% year-on-year in December.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: The short-term momentum continues the downward trend and continues to fluctuate downward. The short-term decline has not stopped. The market is in a good short position.
Long-short turning point: 1.07337
Suppression: 1.07530, 1.07710
Support: 1.07050, 1.06874
Trading strategy: bearish below 1.07337, target 1.07050, 1.06874
Alternative strategy: Bullish above 1.07337, target 1.07530, 1.07710
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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