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07 Nov, 2024
5 minutes

Daily Technical Analysis:EUR/USD、Gold

Welcome to our daily technical analysis of the financial markets, focusing today on EUR/USD and Gold. Let's dissect the latest news, market trends, and crucial price levels to watch out for.

1. EUR/USD Analysis:
News Summary:
A looming new trade war could push the euro zone economy from slow growth into full-blown recession. Germany's already troubled economy, which relies heavily on trade with the United States, will be hit hard by tariffs on European cars. While tariffs may not affect Europe until the end of 2025, renewed uncertainty and trade war fears could push the euro zone economy into recession early next year.

Trend Analysis:
We can see EUR/USD H4 level fell sharply and returned below the 48 hours moving average. In addition, the MACD double line and energy column begin to converge below the zero axis. The buy limit could be used, stop loss is mandatory.

Today's Key Price Levels:
Key Support Levels: [1.0650]
Key Resistance Levels: [1.0820]
Pivot Points [1.0700]

 


2. Gold Analysis:

News Summary:
On Wednesday, as Republican candidate Trump won the U.S. presidential election, gold prices continued to fall, tumbling nearly $100 on the day, the largest drop since June 7 this year. The dollar hit a four-month high, making gold more expensive for buyers holding other currencies, as investors bet higher tariffs under Trump could keep interest rates higher for longer.

Trend Analysis:
We can see gold plummeted and ran below the 48 hours moving average on H4 chart. However, the MACD double line and energy column begins to shrink below the zero axis. The buy limit could be placed, stop loss is necessary.

Today's Key Price Levels:
Key Support Levels: [2640]
Key Resistance Levels: [2685]
Pivot Points [2650]

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