{"id":34475,"date":"2024-11-04T06:00:00","date_gmt":"2024-11-04T06:00:00","guid":{"rendered":"https:\/\/onequity.com\/daily-technical-analysis-eur-usd-the-pair-rises-ahead-of-u-s-elections\/"},"modified":"2026-02-13T14:11:30","modified_gmt":"2026-02-13T14:11:30","slug":"daily-technical-analysis-eur-usd-the-pair-rises-ahead-of-u-s-elections","status":"publish","type":"post","link":"https:\/\/onequity.com\/pt\/daily-technical-analysis-eur-usd-the-pair-rises-ahead-of-u-s-elections\/","title":{"rendered":"EUR\/USD The Pair Rises Ahead of U.S. Elections"},"content":{"rendered":"\n<p>The EUR\/USD recovered some losses from the previous session, trading near 1.0880 in early Asian trading on Monday. This rise may be due to a softer U.S. dollar following weaker-than-expected October Non-Farm Payrolls data. However, uncertainty surrounding the U.S. presidential election could drive safe-haven demand, limiting the pair\u2019s upside potential.<\/p>\n\n\n\n<p>On Friday, U.S. Bureau of Labor Statistics data showed that NFP for October increased by only 12,000, following a revised September gain of 223,000, well below market estimates of 113,000. The unemployment rate remained steady at 4.1% in October, aligning with consensus forecasts.<\/p>\n\n\n\n<p>According to a recent New York Times poll cited by Reuters, Democratic candidate Kamala Harris and Republican candidate Donald Trump are locked in a close race across seven key states just days before the presidential election. The poll indicates Vice President Harris has a slight lead in Nevada, North Carolina, and Wisconsin, while former President Trump leads narrowly in Arizona. The candidates are in a tight race in Michigan, Georgia, and Pennsylvania, with results within the poll&#8217;s 3.5% margin of error.<\/p>\n\n\n\n<p>The euro was bolstered by stronger-than-expected economic growth in the third quarter and higher-than-expected inflation in the eurozone. This has led traders to revisit expectations for a larger-than-usual rate cut by the European Central Bank in December. Markets have fully priced in a 25 basis point cut to the ECB&#8217;s December deposit rate, marking the fourth cut this year after similar reductions in October, September, and June.<\/p>\n\n\n\n<p>Preliminary data revealed the Eurozone&#8217;s Harmonized Index of Consumer Prices rose to 2.0% y-o-y in October, up from 1.7% previously and exceeding the 1.9% estimate. The annual core inflation rate remained stable at 2.7%. Additionally, the Eurozone\u2019s GDP grew by nearly 0.4% quarter-on-quarter in the third quarter, more than doubling the second-quarter growth and surpassing estimates of 0.2%.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>EUR\/USD Daily Technical Analysis for November 4th:<\/strong><\/h2>\n\n\n\n<p>The euro market has rebounded slightly over the week, though it appears to be struggling to hold onto gains. Expect the market to remain volatile and range-bound around the 50-week EMA. A break above the top of the recent candle could push the market toward the 1.10 level. Conversely, the 1.0750 level serves as a critical support level to watch closely. Should it break below this level, the market may head toward 1.05, which has been a significant support level multiple times over recent years. In short, this market seems to lack clear direction and remains somewhat uncertain.<\/p>\n\n\n\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;69de4c1a11f01&quot;}\" data-wp-interactive=\"core\/image\" data-wp-key=\"69de4c1a11f01\" class=\"wp-block-image size-large technical-chart wp-lightbox-container\"><img decoding=\"async\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on--click=\"actions.showLightbox\" data-wp-on--load=\"callbacks.setButtonStyles\" data-wp-on-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/onequity.com\/wp-content\/uploads\/2024\/11\/eurusd-0311-1024x576.png\" alt=\"\" class=\"wp-image-4550\"\/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">EUR\/USD chart<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>The EUR\/USD recovered some losses from the previous session, trading near 1.0880 in early Asian trading on Monday. This rise may be due to a softer U.S. dollar following weaker-than-expected October Non-Farm Payrolls data. However, uncertainty surrounding the U.S. presidential election could drive safe-haven demand, limiting the pair\u2019s upside potential. On Friday, U.S. Bureau of [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[209],"tags":[252,221,222,254],"class_list":["post-34475","post","type-post","status-publish","format-standard","hentry","category-technical","tag-analysis-pt","tag-dollar-pt","tag-euro-pt","tag-technical-pt"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>EUR\/USD The Pair Rises Ahead of U.S. Elections - OnEquity<\/title>\n<meta name=\"description\" content=\"EUR\/USD daily technical analysis: pair rises amid U.S. election uncertainty and NFP data, with key support and resistance levels in focus.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/onequity.com\/pt\/daily-technical-analysis-eur-usd-the-pair-rises-ahead-of-u-s-elections\/\" \/>\n<meta property=\"og:locale\" content=\"pt_PT\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EUR\/USD The Pair Rises Ahead of U.S. Elections - 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