12 Nov, 2024
5 minutes
Daily Technical Analysis：EUR/USD、USD/JPY
Welcome to our daily technical analysis of the financial markets, focusing today on EUR/USD and USD/JPY. Let's dissect the latest news, market trends, and crucial price levels to watch out for.
1. EUR/USD Analysis:
News Summary:
Uncertainty over U.S. trade policy under President-elect Trump could have a far greater impact on European growth and inflation than potential tariffs. Models show that a 10% tariff increase would have a relatively small impact on economic activity and would have a negligible impact on inflation. On the contrary, the uncertainty of trade policy and the divergence between the United States and its fiscal goals will have a greater impact on energy prices and interest rates.
Trend Analysis:
We can see EUR/USD fell again and is still running below the 48 hours moving average on H4 chart. On the other hand, the MACD double line and energy column forms a bottom divergence. The sell limit could be placed, stop loss is necessary.
Today's Key Price Levels:
Key Support Levels: [1.0550]
Key Resistance Levels: [1.0740]
Pivot Points [1.0690]
2. USD/JPY Analysis:
News Summary:
Bank of Japan board members discussed the need to raise the benchmark interest rate. Minutes released by the Bank of Japan on Monday showed that at the meeting, one of the nine committee members said it was too early to tell whether the market was stabilizing. This meeting of the BOJ kept interest rates unchanged and was held shortly before the US presidential election. Since the central bank has been expected to raise policy rates at a moderate pace, it has had time to observe the future direction of the U.S. economy, including after the election.
Trend Analysis:
We can see USD/JPY is consolidating at a high level and running above the 48 hours moving average on H4 chart. In addition, the MACD energy bar and double line shrink above the zero axis. The buy limit could be employed, stop loss is mandatory.
Today's Key Price Levels:
Key Support Levels: [152.00]
Key Resistance Levels: [155.00]
Pivot Points [153.00]