Ultima Markets: 【 Market Analysis 】 The US dollar briefly strengthened Euro breaks through this price range...

Today's Focus on Varieties--EUR/USD。

Fundamentally,On Tuesday, European Central Bank regulatory commission Not stated that monetary policy is showing signs of effectiveness and further interest rate hikes must be taken step by step. In response to runaway inflation, the European Central Bank has raised interest rates in the past year375Investors expect to raise interest rates at least twice more, based on a basis point.

In contrast, the Federal Reserve6The monthly probability will skip interest rate hikes, choose7During the month of interest rate hikes, the US dollar index may remain weak until the market completely digests this expectation. Pay attention to whether US Treasury Secretary Yellen will release more future economic policies at the hearing of the House Financial Services Committee today.

Technically,EUR/USD1The hour chart broke through the previous downward flag shaped oscillation structure last week, completing the Elliott wave structure5Wave driven wave structures.

(EUR/USD)1Hour chart, sourceUltima Markets MT4）

And yesterday's market hit the early upward trend line78.6%Fibonacci stepped back into position. This price range is based on the wave theory2There is a certain probability that the market will stop adjusting and continue to move upwards when the limit is stepped back.

(EUR/USD)1Hour chart, sourceUltima Markets MT4）

In addition, the random oscillation index also shows a golden cross structure at the retreat position, focusing on the prices that form the golden crossKBreakthrough of the highest price point on the line. After breaking through, it is worth paying attention to the entry opportunities, and if the position of the long short boundary above can also effectively break through today, the probability of the euro against the US dollar will continue the long trend of last week.

(EUR/USD)1Hour chart, sourceUltima Markets MT4）

according toUltima Markets MT4InpivotIndicator, daily central price level1.06967，

1.06967Upward bullish, first goal1.07274Second objective1.07626

1.06967Under bearish, first target1.06617Second objective1.06312

Disclaimers

The comments, news, research, analysis, pricing, and other information contained in this article can only be considered as general market information and are provided solely to assist readers in understanding the market situation and do not constitute investment advice.Ultima MarketsReasonable measures have been taken to ensure the accuracy of the data, but the accuracy of the data cannot be guaranteed and can be changed at any time without notice.UltimaMarketsWe will not be responsible for any losses or losses (including but not limited to any loss of profits) that may arise from the direct or indirect use or reliance on such information.