The difference contract is a complex trading tool, and it is risk of rapid losses due to leverage.

You should consider whether to understand how the difference contract operates, and whether you have the ability to bear the high risk of losing funds.

The difference contract is a complex trading tool, and it is risk of rapid losses due to leverage.

You should consider whether to understand how the difference contract operates, and whether you have the ability to bear the high risk of losing funds.

The difference contract is a complex trading tool, and it is risk of rapid losses due to leverage.

You should consider whether to understand how the difference contract operates, and whether you have the ability to bear the high risk of losing funds.

News & Analysis

Market analysis

Technical Analysis of Euro, GBP, and JPYCarolane de Palmas

2023-07-17 11:32

Resistance level 2:1.1300
Resistance level 1:1.1250
Spot price: 1.1226
Support bit 1:1.1150
Support bit 2:1.1036
Last Friday (July 14th), the euro hit a 16 month high of $1.1245 against the US dollar in the Asian session, and then slightly softened towards the close of New York, remaining flat at $1.1229. The US dollar rebounded slightly on Friday after a significant decline in the past few days, as investors engaged in some consolidation rebound trading before the weekend. The recent comprehensive weakness of the US dollar is mainly due to the significant decline in US inflation data, leading to a significant increase in market expectations that the Federal Reserve is approaching the end of its interest rate hike cycle. Under the stimulus of the disappearance of interest rate spread advantage, a large number of non US currencies such as the euro took the opportunity to soar significantly. According to a report by a renowned economist to clients, due to the increasing optimism of European residents, service industry activity, and strong tourism industry. He predicts that the GDP of the eurozone will slightly increase by 0.1% in the second quarter. In an environment where concerns about economic recession are gradually decreasing and the interest rate difference with the US dollar is expected to gradually narrow, the euro may continue to receive some support. However, from the perspective of technical graphics, there seems to be signs of top deviation on the daily level chart, and it is necessary to prevent profit taking adjustments due to the recent excessive increase in the euro. The important resistance level above is around 1.1280, while the support below falls in sequence at 1.1150 and 1.1036.