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EURUSD: recovery from lows
2023-02-14
1193
Fundamental analysis:
The euro remained volatile around 1.07236 against the U.S. dollar. According to market surveys, by 2025, the inflation rate in the euro zone may still be higher than the European Central Bank's 2.0% target; the market expects that the overall and basic CPI indicators in the euro zone will average 2.1% in 2025 .
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: The low-level long-term momentum slowly rebounded within a narrow range. The previous decline began to weaken, and the bullish sentiment in the market slowly emerged. The MACD indicator is weakly finishing below the 0 axis, and the RSI indicator is hovering weakly near the 50 balance line;
Long-short turning point: 1.07104
Suppression: 1.07438, 1.07627
Support: 1.06867, 1.06632
Trading strategy: Bullish above 1.07104, target 1.07438, 1.07627
Alternative strategy: bearish below 1.07104, target 1.06867, 1.06632
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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