Home Market Analytical Overview of the Main Currency Pairs for 2023.01.03

Analytical Overview of the Main Currency Pairs for 2023.01.03

23
0


By JustMarkets

The EUR/USD currency pair

Technical indicators for the currency pair
  • Prev Open: 1.0696
  • Prev Close: 1.0658
  • % chg. in the past day: -0.35

The ECB will likely continue to hike rates aggressively, despite the fact that inflationary pressures in Europe are expected to ease this week. This is contrary to the trend set by most major central banks. The ECB was the last of the big central banks to start raising rates, which means Europe’s Central Bank has more “room” to continue tightening. The index of manufacturing activity shows that the European manufacturing sector has already adjusted to high prices. This indicates that supply chains are recovering and the recession in euro area manufacturing activity is likely over.

Trading tips
  • Support levels: 1.0638, 1.0589, 1.0483, 1.0361, 1.0332, 1.0284, 1.0193
  • Resistance levels at 1.0689

The EUR/USD currency pairing trend is bullish on an hourly basis. The price remains in a wide range of prices. The MACD indicator has turned negative. Volatility is low. Under such market conditions, buy trades are best considered from the support level of 1.0638 on intraday time frames. You can also sell deals



Continue reading…

Previous articleAs the Fed raises interest rates, gold rises
Next articleConcerns regarding US Growth Cloud Outlook