18 Jun, 2024
5 minutes
Daily Technical Analysis Jun 18th 2024
1. EUR/USD Analysis:
News Summary:
The European Central Bank is in no rush to cut interest rates, which could delay the steepening of the euro zone's yield curve. The ECB reserved stance on further easing monetary policy poses a considerable obstacle to the start of the cyclical steepening trend. At the June 6 meeting, the ECB raised its inflation expectations and issued mainly hawkish remarks after the meeting, curbing hopes of further rapid interest rate cuts.
Trend Analysis:
We can see EUR/USD H4 level fluctuated and fell back and ran below the 48 hours moving average. In addition, the MACD double line and energy column expanded slightly below the zero axis. The sell limit could be used, stop loss is necessary.
Today's Key Price Levels:
Key Support Levels: [1.0640]
Key Resistance Levels: [1.0800]
Pivot Points [1.0770]
2. Crude Oil Analysis:
News Summary:
Over the past week, the crude oil market has experienced a series of fluctuations. Although the decline in the US consumer confidence index has put some pressure on the market, crude oil futures prices still showed strong resilience, rising nearly 3% overall this week. This phenomenon reflects the market's optimistic expectations for crude oil and fuel demand in 2024, as well as concerns about future supply shortages.
Trend Analysis:
We can see crude oil moved upward and began to move away from the 48 hours moving average. On the other hand, the MACD double line and histogram bar formed a top divergence and shrinkage. The sell limit could be placed, stop loss is mandatory.
Today's Key Price Levels:
Key Support Levels: [78.00]
Key Resistance Levels: [82.00]
Pivot Points [81.00]