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21 Nov, 2024
5 minutes

Daily Technical Analysis:EUR/USD、 Crude Oil

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 European Central Bank's deputy president said the ECB will cut interest rates further, but officials should not act hastily due to uncertainties such as rising trade tensions and global conflicts. Trade now poses an additional threat to the economies of the 20-nation euro zone, with investors expecting a fourth cut in borrowing costs since June, less than four weeks before the last rate meeting of the year.

Trend Analysis:
We can see EUR/USD H4 level fluctuated and rebounded and ran below the 48 hours moving average. In addition, the MACD double line and the energy column converge below the zero axis. The buy limit could be used, stop loss is necessary.

Today's Key Price Levels:
Key Support Levels: [1.0470]
Key Resistance Levels: [1.0640]
Pivot Points [1.0510]

 

 

2. Crude Oil Analysis:

News Summary:
Geopolitical risks have provided additional impetus to crude oil prices. Tensions between Russia and Ukraine have increased after Ukraine deployed long-range missiles supplied by the United States to Russian territory. Moscow responded by revising its nuclear doctrine, warning of nuclear retaliation against conventional attacks involving nuclear allies. Outside Europe, Iran's ongoing uranium enrichment activities have raised concerns about further sanctions that could restrict the flow of oil around the world.

Trend Analysis:
We can see crude oil fluctuated and fell back and is still running above the 48 hours moving average on H4 chart. On the other hand, the MACD double line and energy column further shrink near the zero axis. The buy limit could be used, stop loss is compulsory.

Today's Key Price Levels:
Key Support Levels: [67.00]
Key Resistance Levels: [72.00]
Pivot Points [68.00]

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