Welcome to our daily technical analysis of the financial markets, focusing today on EUR/USD and Crude Oil. Let's dissect the latest news, market trends, and crucial price levels to watch out for.
1. EUR/USD Analysis:
News Summary:
The core driver of the current euro trend comes from the latest developments in the German and eurozone economies. Germany's ZEW economic sentiment index jumped sharply to 51.6 in March, far exceeding market expectations of 48.1. This data shows that German investors' confidence in the economic outlook is recovering rapidly. The optimism mainly stems from the positive signals of Germany's fiscal policy. The lower house of parliament is about to vote on an infrastructure fund of up to 500 billion euros and relax constitutional borrowing restrictions to increase defense spending.
Trend Analysis:
We can see EUR/USD hovered at a high level and ran above the 48 hours moving average on H4 chart. On the other hand, the MACD double line and energy bar further shrink above the zero axis. The buy limit could be placed, stop loss is necessary.
Today's Key Price Levels:
Key Support Levels: [1.0840]
Key Resistance Levels: [1.1030]
Pivot Points [1.0880]
2. Crude Oil Analysis:
News Summary:
The situation in the Middle East continues to heat up due to the US-Iran game and the Gaza conflict. The consumption stimulus policy further strengthens demand expectations, but the potential increase in global supply, such as Venezuela's production increase and the situation between Russia and Ukraine, still suppresses prices. The peace talks between Trump and Russian President Putin have attracted much attention. The market expects that if an agreement is reached in the negotiations, sanctions against Russia may be partially lifted, which will lead to the return of Russian crude oil to the market, increase supply pressure, and put pressure on oil prices.
Trend Analysis:
We can see crude oil fell back after encountering resistance at the H4 level and ran below the 48 hours moving average. In addition, the MACD double line and histogram bar expand near the zero axis. The sell limit could be used, stop loss is mandatory.
Today's Key Price Levels:
Key Support Levels: [64.40]
Key Resistance Levels: [69.00]
Pivot Points [67.70]
