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EURUSD: low move down

2023-02-13
996
Fundamental analysis:

EUR/USD remained volatile around 1.06728. European Central Bank executive member Schnabel: We will insist on raising interest rates and bring the inflation rate back to the 2% target in time. Quantitative tightening programs may have helped boost yields.

EURUSD—4-hour K-line chart shows:



Brief technical analysis:

Looking at the 4-hour chart: The low-level short-term dynamics continued to fluctuate and then began to slowly move down. The market’s bearish sentiment emerged, and the trend continued to move downward in the short term.

Long-short turning point: 1.06814

Suppression: 1.07018, 1.07223
Support: 1.06556, 1.06385

Trading strategy: bearish below 1.06814, target 1.06556, 1.06385
Alternative strategy: Bullish above 1.06814, target 1.07018, 1.07223

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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