1. EUR/USD Analysis:
News Summary:
Despite solid overall economic growth in the second quarter, eurozone industrial output fell more than expected in June, challenging the view that the G20 bloc can remain resilient to the impact of a global trade war. Data released Thursday by Eurostat showed industrial output fell 1.3% month-on-month in June, less than the expected 1.0% decline, driven by a sharp downturn in Germany and weak production of consumer goods.
Trend Analysis:
We can see EUR/USD rebounded after a decline on the H4 level and is trading near the 48 hours moving average. On the other hand, the MACD double line and energy bar are expanding above the zero axis. The buy limit could be placed, stop loss is necessary.
Today's Key Price Levels:
Key Support Levels: [1.1570]
Key Resistance Levels: [1.1780]
Pivot Points [1.1620]
2. Crude Oil Analysis:
News Summary:
The current market is facing multiple influences. OPEC+'s full lifting of its 2.2 million barrels per day (bpd) production cuts has sparked concerns about oversupply. However, Saudi Arabia has raised its official selling price to Asia for the second consecutive month to a premium of $3.20 per barrel, causing core buyers such as China and India to shift to non-OPEC+ suppliers such as Brazil and the United States. Geopolitically, the US and Russian leaders will hold a summit on Ukraine on Friday, potentially increasing the short-term risk premium for crude oil.
Trend Analysis:
We can see crude oil rebounded from oversold state and returned to the vicinity of 48 hours moving average on H4 chart. In addition, the MACD double line and histogram bar expand below the zero axis. The buy limit could be set, stop loss is mandatory.
Today's Key Price Levels:
Key Support Levels: [61.00]
Key Resistance Levels: [66.00]
Pivot Points [62.00]
