22 Oct, 2024
5 minutes
Daily Technical Analysis：EUR/USD、Gold
Welcome to our daily technical analysis of the financial markets, focusing today on EUR/USD and Gold. Let's dissect the latest news, market trends, and crucial price levels to watch out for.
1. EUR/USD Analysis:
News Summary:
Commerzbank Research said euro zone economic data looks set to determine whether buying of short-term government bonds is sustained this week. The bond market got off to a slow start due to light data on Monday and Tuesday. Last week's decision by the European Central Bank to cut interest rates by 25 basis points is still affecting markets. In the context of ECB President Christine Lagarde's guidance to further loosen monetary policy, expectations for interest rate cuts have increased.
Trend Analysis:
We can see EUR/USD H4 level rebounded slightly but is still running below the 48 hours moving average. In addition, the MACD double line and energy column are hovering below the zero axis. The sell limit could be placed, stop loss is necessary.
Today's Key Price Levels:
Key Support Levels: [1.0730]
Key Resistance Levels: [1.0900]
Pivot Points [1.0850]
2. Gold Analysis:
News Summary:
This wave of gold's rise was mainly driven by geopolitical tensions in the Middle East. Tensions between Israel and Iran continue to escalate, with Lebanese media reporting that Israel launched a new round of air strikes in southern Beirut and conducted military operations targeting Hezbollah financial institutions. Meanwhile, the United States launched an investigation into leaked classified documents that showed detailed preparations by Israel for possible military action. Against this backdrop, investors have chosen to flock to the safe-haven asset gold.
Trend Analysis:
We can see gold rises and drops, and gradually approaches the 48 hours moving average on H4 chart. On the other hand, the MACD double line and energy bar has formed dead cross above the zero axis and then expanded. The sell limit could be employed, stop loss is mandatory.
Today's Key Price Levels:
Key Support Levels: [2703]
Key Resistance Levels: [2770]
Pivot Points [2750]