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29 Oct, 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 deputy president of the European Central Bank said that economic activity in the euro area is expected to strengthen, and the increase in real income and easing financing conditions will support consumption and investment. Exports are also expected to contribute to the economic recovery as global demand grows. However, risks to the growth outlook remain elevated and biased to the downside. In particular, declining confidence may hinder the pace of recovery in consumption and investment, while geopolitical risks continue to threaten the global economy, potentially disrupting energy supplies and global trade.

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

Today's Key Price Levels:
Key Support Levels: [1.0740]
Key Resistance Levels: [1.0870]
Pivot Points [1.0830]
2. Crude Oil Analysis:

News Summary:
Although conflicts in the Middle East continue, crude oil markets have interpreted recent events as a step toward de-escalation, causing risk premiums in the region to fade. Over the weekend, Israel launched air strikes against missile bases in Iran, which the Iranian authorities claimed caused limited damage. Israel’s choice not to target Iran’s nuclear facilities or oil infrastructure, coupled with Tehran’s restrained response, makes it less likely that the conflict will escalate and affect oil supplies.

Trend Analysis:
We can see crude oil fluctuates at a low level and runs below the 48 hours moving average on H4 chart. In addition, the MACD double line and energy column converge below the zero axis. The sell limit could be employed, stop loss is mandatory.

Today's Key Price Levels:
Key Support Levels: [65.00]
Key Resistance Levels: [70.50]
Pivot Points [69.00]

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