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27 Nov, 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:
S&P Global noted in a report to investors that the euro zone economy may be able to absorb the impact of higher export tariffs to the United States. Trump has previously warned that he will impose tariffs on imported goods, a policy that will affect European exporters, and the United States is their most important market. But such a scenario would likely only reduce economic growth in the euro zone by 0.2%, with Germany being the hardest hit.

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

Today's Key Price Levels:
Key Support Levels: [1.0350]
Key Resistance Levels: [1.0580]
Pivot Points [1.0520]


2. Crude Oil Analysis:

News Summary:
A ceasefire in the Middle East has eased geopolitical risks, reduced oil premiums and depressed oil prices. OPEC+ is likely to maintain current production cuts, reflecting demand concerns. In Europe, the escalation of hostilities in Ukraine, marked by renewed drone attacks on Kiev, has kept Russia's oil supply issues in the spotlight. Meanwhile, OPEC+ is likely to maintain existing production cuts at its upcoming meeting, reflecting continued demand uncertainty.

Trend Analysis:
We can see crude oil encountered resistance and then dropped and ran below the 48 hours moving average on H4 chart. On the other hand, the MACD double line and energy bar converges near the zero axis. The sell limit could be placed, stop loss is compulsory.

Today's Key Price Levels:
Key Support Levels: [66.50]
Key Resistance Levels: [72.00]
Pivot Points [70.00]

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