Thursday, December 5, the EURUSD was trading around 1.0527 in European trading. Fundamentally, the US dollar index is still running at a high level. There is no clear direction choice in the short term, and the market is waiting for the release of non-agricultural data.
Before there are new marginal changes in fundamentals, there is a high probability that adjustments will continue. In the medium term, U.S. employment data is relatively stable, and there are divergent expectations for the Federal Reserve's interest rate cut in December, which supports the dollar. The non-U.S. medium-term turning point has not yet come, and Europe and the United States remain range-bound. .
From a technical perspective, the European and American daily levels are still within the range, and the volatility has declined. The KDJ indicator has crossed again, but the downside space is limited, and we are waiting for the direction choice after the Bollinger Track closes.
Even if it rebounds in the short term, if it fails to break through the suppression of the Bollinger Track central axis, it will still be weak. The intraday pressure is around 1.0600, and the lower support is 1.0420.
From a 4-hour perspective, the current moving average pressure has not yet broken through. At the same time, the Bollinger Band is flat, waiting for the opening again after closing. The intraday pressure is around 1.0570, and the lower support is 1.0470.
Boostdemon26
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