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EURUSD: Pulling up at a high level

2022-12-14
1189
Fundamental analysis:
The euro against the U.S. dollar remained volatile around 1.06293. EU member states passed the Hungarian national recovery plan. Hungary can continue to receive 5.8 billion euros in appropriations according to the plan, but the premise of receiving the appropriation is that Hungary completes the set goals.

EURUSD—4-hour K-line chart shows:



Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum has risen strongly, the high short-term bullish sentiment is shrouded, the market bulls continue to climb, the MACD indicator is in the bullish zone and maintains upward movement, and the RSI indicator is in the bullish zone for consolidation;
Long-short turning point: 1.06195
Suppression: 1.06523, 1.06745
Support: 1.05967, 1.05753
Trading strategy: Bullish above 1.06195, target 1.06523, 1.06745
Alternative strategy: bearish below 1.06195, target 1.05967, 1.05753

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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