https://content.tmgm-dev.com/uploads/articles/G69TfdMWVjqYZL72VaL725g0yYr6MQEnVGXCYc9b.png
04 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:
Commerzbank pointed out that since the Eurozone PMI was released on October 24, the euro is by far the best-performing currency, but on the other hand, the euro is the currency that contributes the least to G10 exchange rate fluctuations. In a reasonably efficient market, this is not a permanent situation, but a sign that the market is undergoing a major re-evaluation and is looking for a new equilibrium level for the euro exchange rate.

Trend Analysis:
We can see EUR/USD H4 level gapped up and ran above the 48 hours moving average. In addition, the MACD double line and energy bar has constituted golden cross near the zero axis. The sell limit could be employed, stop loss is mandatory.

Today's Key Price Levels:
Key Support Levels: [1.0830]
Key Resistance Levels: [1.0970]
Pivot Points [1.0940]

 

2. Crude Oil Analysis:

News Summary:
Oil prices briefly rebounded due to the news, but ultimately failed to shake off the downward pressure. Iran may attack Israel through Iraq in the next few days. This potential risk of geopolitical conflict stimulated market sentiment and caused oil prices to rise by more than $2 during the session. However, the market later digested the news, and investors expected Iran's response to be more restrained and not lead to a direct military conflict. As a result, oil prices fell slightly.

Trend Analysis:
We can see crude oil fell and rebounded and returned to the 48 hours moving average on H4 chart. However, the MACD double line and energy column shrinks further downward above the zero axis. The buy limit could be placed, stop loss is necessary.

Today's Key Price Levels:
Key Support Levels: [68.00]
Key Resistance Levels: [73.00]
Pivot Points [69.50]

Magsimula! Mag-sign up at i-access ang Global Markets nang wala pang 3 minuto

Bilis ng pagpapatupad na mabilis pa sa kidlat kasama ang suporta sa customer 24/7