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EURUSD: Shock upward
2023-04-12
951
Fundamental analysis:
The euro remained volatile around 1.09097 against the U.S. dollar. The Sentix investor confidence index in the euro zone rose from -11.1 in March to -8.7 in April, exceeding expectations. After an unexpected decline in March, investor confidence in the euro zone improved in April due to the The assessment of current conditions rose to its highest level in more than a year.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the momentum of the bulls remains volatile and rising, the short-term bullish sentiment remains, the bulls in the market continue to climb, the MACD indicator is hovering around the 0 axis, and the RSI indicator is in a weak order near the 50 balance line;
Resistance levels: 1.09235 1.09383
Support levels: 1.08915 1.08787
Trading strategy: Bullish above 1.09038, target 1.09235 1.09383
Alternative strategy: bearish below 1.09038, target 1.08915 1.08787
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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