Daily Technical Analysis:EUR/USD、Crude Oil
Introduction: 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:
European Central Bank President Christine Lagarde said that the recent strength of the euro against the dollar is caused by the erratic policies of the United States, which is an opportunity for Europe. In a period of uncertainty, the dollar usually strengthens significantly. But now the opposite is happening, with the euro strengthening against the dollar. This may seem counterintuitive, but the reason behind it is the increase in uncertainty and the loss of confidence in US policies in some financial markets.
Trend Analysis:
We can see EUR/USD remains volatile and runs near the 48 hours moving average on H4 chart. In addition, the MACD double line and histogram bar expand below the zero axis. The buy limit could be used, stop loss is necessary.
Today's Key Price Levels:
Key Support Levels: [1.1080]
Key Resistance Levels: [1.1270]
Pivot Points [1.1130]
2. Crude Oil Analysis:
News Summary:
Expectations of an increase in OPEC+ oil production and the increased likelihood of an Iran nuclear deal have reignited bearish concerns as Iran's nuclear deal could lead to sanctions relief and Iranian crude could return to the global market. Strong seasonal tourism demand in the coming months could offset the expected increase in crude oil supply as geopolitics cools. Global supply is expected to increase by 1.6 million barrels per day this year as OPEC+ members such as Saudi Arabia lift production cuts.
Trend Analysis:
We can see crude oil rebounded slightly at H4 level and ran around the 48 hours moving average. On the other hand, the MACD double line and energy bar converge near the zero axis. The sell limit could be employed, stop loss is mandatory.
Today's Key Price Levels:
Key Support Levels: [59.00]
Key Resistance Levels: [64.00]
Pivot Points [63.00]