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EURUSD: The shock moves down
2022-12-23
1108
Fundamental analysis:
The euro remained volatile near 1.05938 against the U.S. dollar. European Central Bank Management Committee Villeroy believes that the European economy may avoid a hard landing. The European Central Bank has not only become optimistic about the prospects of the European economy recently, but also has become more hawkish in its attitude towards raising interest rates.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: After the short-term narrow range of shocks, the short-term momentum moves downward, and there are signs of continued downward weak shocks in the short-term. The MACD index is hovering weakly near the 0 axis, and the RSI index is weakly finishing below the 50 balance line;
Long-short turning point: 1.06007
Suppression: 1.06191, 1.06404
Support: 1.05731, 1.05547
Trading strategy: bearish below 1.06007, target 1.05731, 1.05547
Alternative strategy: Bullish above 1.06007, target 1.06191, 1.06404
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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