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02 Jan, 2025
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 president of the European Central Bank said that the 2% inflation target is within sight. In a video posted on X on Wednesday, she said significant progress had been made in reducing inflation in 2024 and hoped to achieve the target in 2025 as expected and strategically planned. Efforts will continue to ensure that inflation remains stable at the medium-term target of 2%. Eurozone CPI growth slowed last year and fell below the ECB's target in September but has picked up in recent months.

Trend Analysis:
We can see EUR/USD H4 level fluctuated and rebounded and hovered below the 48 hours moving average. In addition, the MACD double line and energy bar has formed bottom divergence below the zero axis. The sell limit could be used, stop loss is necessary.

Today's Key Price Levels:
Key Support Levels: [1.0280]
Key Resistance Levels: [1.0470]
Pivot Points [1.0420]

 

2. Crude Oil Analysis:
News Summary:
The overall weakness in oil prices in 2024 is mainly affected by the weak recovery in global demand and the continued increase in supply. Data from the U.S. Energy Information Administration (EIA) shows that U.S. oil production reached a record high of 13.46 million barrels per day in October, and production is expected to rise further to 13.52 million barrels per day in 2025. The high production of the United States and other non-OPEC countries is continuously injecting large amounts of crude oil into the market, undermining OPEC+'s efforts to stabilize the market through production cuts.

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

Today's Key Price Levels:
Key Support Levels: [70.00]
Key Resistance Levels: [74.20]
Pivot Points [73.10]

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