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EURUSD: low up
2023-08-10
813
Fundamental analysis:
The euro remained volatile around 1.09732 against the U.S. dollar, and inflation risk indicators in the euro zone were approaching historical highs. However, the European Central Bank policymakers have not yet disclosed whether they will continue to raise interest rates or suspend interest rate hikes after the summer recess, only emphasizing that it will depend on specific circumstances.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: The low-level bullish momentum maintains a weak order and slowly moves upward, the market is bullish, and there are signs of continued upward movement in the short term. The MACD index is hovering weakly below the 0 axis, and the RSI index is in order near the 50 balance line;
Resistance levels: 1.09933 1.10137
Support levels: 1.09428 1.09232
Trading strategy: Bullish above 1.09624, target 1.09933 1.10137
Alternative strategy: bearish below 1.09624, target 1.09428 1.09232
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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