The euro-dollar parity was at 1.0871 yesterday. I will follow the 1.0850 support level in the euro-dollar parity. This support level was tested yesterday. With the reaction bullish, there are 1.0950 and 1.1050 levels above. But there is no deterioration in my expectation about the 1.15 level until the end of the year.
The ounce price of gold was at 1890 dollars yesterday. It will test the 1890 support level since last week, specifically pointing to this week. From there, it can rise to the level of 1930 and 1960 dollars with reaction buying again. I said I would follow these band gaps. This expectation continues. The 1890 support level was tested this week. However, he may put the 1930 resistance level on his radar with reaction purchases next week. I can state that I expect a rise in the ounce gold side next week. Why has it lost so much value? The reasons for this can be summarized under 3 headings as follows:
First, the probability of the US central bank FED's interest rate hike increased to 50% by the markets. When this probability increased to 50%, there was a suppression on the side of commodities.
The second is the bankruptcy of real estate companies on the Chinese side. With the spread of bankruptcy news, there was a strengthening in dollar assets. We continue to see a sell-off in commodities. This was the reason for the second negativity.
Third, the dollar index rose above the 103 level. As the dollar index rose above the 103 level, we saw severe pressures in all investment instruments against the dollar.
I have often expressed the support level of $ 22.20 in the silver ounce price. It fell as low as $22.35. He recovered a little yesterday due to the ratio. It was at $22.71 yesterday. This week, a suitable ground has been formed to buy silver. These opportunities will not be permanent. This prediction continues.
Especially in the last two days, there was a drop in the crypto money markets that made its investors vomit blood. Yesterday, bitcoin lost 5.76% in value. Bitcoin was at $26049 yesterday. There are two important reasons behind this rapid collapse in cryptocurrencies at a time when no one expected, even a positive atmosphere. The first is the bankruptcy news from China, and the second is the sales of whales, which seriously steer cryptocurrencies. They are manipulating to collect from below while selling. Since they set up this workbench, they continue to make serious profits. There is uncertainty about how long these sales will continue and deepen. Because 28800 support level is broken. This was a very important level of support. Now it remains in an empty space below. However, there will probably be a quick reaction from here and the upward movement will definitely continue. The reason for yesterday's sales is purely operation. In other words, it was a big operation carried out by investors who traded in this market, who had large and strong assets, and who steered this market. In a serious sense, they made a serious profit in the face of manipulation. Whether these profit sales in the cryptocurrency market will accelerate or not today's closures will have a significant impact.
Oil prices finished the week with a 1% increase in value. It was at $84.5 yesterday. It continues to hover in the 83-88 range. It was specifically following the $83.5 support level this week. However, we had a brent oil that had its eye on 90 dollars. It continued to affect everything negatively, especially in the upward movements in brent oil or oil prices.
There is serious tension in the markets. It's like the calm before the storm. These prices are not surprising at all. You need to know this clearly. Nothing is moving right now. There are hard sells in all assets against the dollar. Something is being bought. However, this is not a good thing. Either in September or October, the calf's tail will break off. But big turbulence is coming. I don't find these pricing healthy at all. You need to protect your assets against the risks to be taken against these pricing. What you get is entirely up to you. This is entirely your personal decision. While making investment diversification, it will be more important for people to protect their assets and feel psychologically sound in September and October. No need for adventure. Be very careful during the next 2 months. When you wake up in the morning, you can wake up to a different market. It is necessary to be protected against risks.
My opinions are not investment advice. Please do your own research.