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20 Dec, 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:
Between political turmoil, some weak economic data and warnings about insufficient growth potential, Europe has had a tough year. However, amid the gloomy outlook, 2025 may offer some bright spots to watch. European Central Bank policymakers announced their fourth and final interest rate cut this year. Markets are pricing in another quarter-point rate cut when the ECB's Governing Council takes its first policy decision in 2025, according to swaps data.

Trend Analysis:
We can see EUR/USD H4 level encountered resistance and fell back and ran below the 48 hours moving average. In addition, the MACD double line and energy bar further converge below the zero axis. The sell limit could be used, stop loss is necessary.

Today's Key Price Levels:
Key Support Levels: [1.0270]
Key Resistance Levels: [1.0450]
Pivot Points [1.0400]

 


2. Crude Oil Analysis:

News Summary:
Oil prices continued to fall after policymakers from the Federal Reserve and the European Central Bank expressed caution about further easing monetary policy, fueling concerns that weak economic activity could weaken oil demand next year. The Federal Reserve cut interest rates by 25 basis points on Thursday as expected, but Chairman Powell warned that stubborn inflation will make the Fed more cautious about cutting interest rates next year. The dollar rose to its highest point in two years, making oil more expensive for buyers holding other currencies.

Trend Analysis:
We can see crude oil fluctuated downwards and moved below the 48 hours moving average on H4 chart. On the other hand, the MACD double line and energy column expand near the zero axis. The sell limit could be placed, stop loss is mandatory.

Today's Key Price Levels:
Key Support Levels: [67.00]
Key Resistance Levels: [72.00]
Pivot Points [70.20]

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