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EURUSD: Shock upward
2023-04-19
913
Fundamental analysis:
EUR/USD remained volatile around 1.09712, and the core inflation rate in the euro zone may remain above 5% until autumn. There are growing signs that inflation in industrial goods and food has eased, but price pressures in the services sector remain high amid sharp wage increases.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: The bullish momentum remains volatile and upward, the market is still bullish, and there are signs of continued upward movement in the short term. The MACD indicator is hovering below the 0 axis, and the RSI indicator is in a weak order near the 50 balance line;
Resistance levels: 1.09859 1.10050
Support levels: 1.09424 1.09200
Trading strategy: Bullish above 1.09625, target 1.09859 1.10050
Alternative strategy: bearish below 1.09625, target 1.09424 1.09200
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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