CM Trade

Download APP to receive bonus

GET

EURUSD: Pulling up at a high level

2023-04-13
901
Fundamental analysis:

The euro remained volatile around 1.09908 against the U.S. dollar. European Central Bank Vice President Guindos: Preliminary data showed that the economic growth rate in the euro zone was positive in the first quarter, and the recent core inflation data in the euro zone was tricky.

EURUSD—4-hour K-line chart shows:



Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum has risen strongly at a high level, the market is still bullish, and there is a short-term upward trend, the MACD indicator is in the bullish zone and continues to move upward, and the RSI indicator is in the bullish zone and fluctuates at a high level;

Resistance levels: 1.10085 1.10293

Support levels: 1.09612 1.09416

Trading strategy: bullish above 1.09796, target 1.10085 1.10293
Alternative strategy: bearish below 1.09796, target 1.09612 1.09416

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.

Free Access
Daily Trading Strategy
Download Now

CM Trade Mobile Application

Economics Calendar

More