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EURUSD: Shock up
2023-02-15
961
Fundamental analysis:
The euro remained volatile around 1.07374 against the U.S. dollar. The EU economic forecast report: The European Commission raised its 2023 euro zone economic growth forecast to 0.9% from the previous 0.3% and lowered its 2023 euro zone inflation forecast to 5.6% from the previous 6.1%. European Central Bank Vice President Guindos: The extent of interest rate hikes after March depends on the data.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the momentum of the low-level bulls keeps oscillating and rising. In the short term, it encounters resistance and sorts out. The market’s bullish sentiment remains. The MACD indicator is in the bearish area and moves up to the lower side of the 0 axis. The RSI indicator is in a weak position near the 50 balance line;
Long-short turning point: 1.07270
Suppression: 1.07596, 1.07814
Support: 1.07038, 1.06805
Trading strategy: Bullish above 1.07270, target 1.07596, 1.07814
Alternative strategy: bearish below 1.07270, target 1.07038, 1.06805
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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