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EURUSD: low volatility
2023-08-16
731
Fundamental analysis:
EUR/USD remained volatile around 1.09039, with the overall ZEW expectations index stabilizing, rising in the latest data for August, as financial markets showed resilience despite further tightening by the ECB.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: The short-term momentum remains volatile at a low level. Although the short-term decline shows signs of weakening, the downward trend remains. The MACD indicator is in the short-selling area and remains in order, and the RSI indicator is hovering weakly below the 50 balance line;
Resistance levels: 1.09308 1.09474
Support levels: 1.08877 1.08712
Trading strategy: bearish below 1.09147, target 1.08877 1.08712
Alternative strategy: Bullish above 1.09147, target 1.09308 1.09474
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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