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EURUSD: low volatility
2023-02-08
1140
Fundamental analysis:
EUR/USD remained volatile around 1.07242. The European Central Bank unexpectedly raised interest rates by 50 basis points compared with the Fed, which helped the euro narrow the interest rate gap with the U.S. dollar, which to a considerable extent can still limit the sharp weakening of the euro .
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: The short momentum continues the downward trend and continues to fluctuate and move down. The low short-term narrow range arrangement, the market low bull momentum has signs of waiting for an opportunity to enter the market, the MACD indicator is in the short zone, and the RSI indicator is in the short zone to maintain hovering;
Long-short turning point: 1.07164
Suppression: 1.07486, 1.07710
Support: 1.06947, 1.06765
Trading strategy: Bullish above 1.07164, target 1.06947, 1.06765
Alternative strategy: bearish below 1.07164, target 1.07486, 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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