19 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:
The euro could fall if the Eurozone's PMI survey data is released on Friday. Weak PMI data may increase market expectations for a larger ECB rate cut of 50 basis points in December. The market currently expects the probability of the ECB to take this step to be 27%. Given the possible headwinds from trade tariffs proposed by U.S. President-elect Trump, the European Central Bank may need to make significant efforts to support the economy in 2025.
Trend Analysis:
We can see EUR/USD fluctuated upward and moved near the 48 hours moving average on H4 chart. On the other hand, the MACD double line and energy bar expands below the zero axis. The buy limit could be placed, stop loss is necessary.
Today's Key Price Levels:
Key Support Levels: [1.0500]
Key Resistance Levels: [1.0690]
Pivot Points [1.0550]
2. Crude Oil Analysis:
News Summary:
Escalating tensions between Russia and Ukraine supported oil prices. Over the weekend, U.S. President Joe Biden's administration approved Ukraine's use of U.S. made weapons to strike targets in Russia, marking a major shift in U.S. policy. While this decision is intended to strengthen Ukraine's capabilities, it could trigger further instability. Russia has launched its largest airstrikes in Ukraine in three months, targeting critical infrastructure.
Trend Analysis:
We can see crude oil H4 level bottomed out and moved above the 48 hours moving average. In addition, the MACD double line and energy column further expands near the zero axis. The buy limit could be employed, stop loss is compulsory.
Today's Key Price Levels:
Key Support Levels: [67.30]
Key Resistance Levels: [73.00]
Pivot Points [68.00]