Euro-dollar parity was at 1.0891 yesterday. It keeps crawling under 1.09. It continued to hover in the band range of 1.0869 to 1.0913 yesterday. Markets are stuck in a slightly narrow band gap. Because there is an important development this week. Powell, the chairman of the US central bank, will have statements at the Jackson Hole meeting. After the statements here, we will focus on whether the US central bank FED will increase interest rates. The markets will try to get a tip here.
The Dollar Index is high. Let's see if the 103.5 level is broken to the upside. Will it continue its rise to the level of $ 104? However, the explanations that come in a calm tone show this. It means that the dollar seems to continue its value increases in the international markets in the short term. A full trend will become clear after Powell's statements. After this symposium, it will be clear whether the trend will be broken down or up. I guess the lower support levels will most likely be tested.
An ounce of gold was at 1890 yesterday. It remains in the range of 1885-1898 during the day yesterday. Because the uncertainty in the dollar index and the uncertainty in the statements of FED Chairman Powell caused him to be stuck in a narrow band search. On the gold side, I will continue to follow the 1860 dollar level as the support level. Above is the 1920 resistance. I will continue to monitor these band gaps. Figures below $1900 will continue to offer buying opportunities for medium and long-term investors. The suppression process seems to continue in the short term.
Silver was at $23.21 an ounce yesterday. There is a 2% increase in value. The $22.20 level was a strong support level. Yesterday, there was a rate above the 23 dollar level based on the ratio. It will continue to increase at 23.80 and 24, 26 and 28 dollars. We have a silver that will dethrone gold.
The barrel price of Brent oil was at $80.67 yesterday. Narrow band gap prevails in the barrel price of Brent oil. It made transactions in the range of 84.38-85.83 during the day yesterday. I expect bearish movement this week. In particular, it can decline to the level of $ 81.5. I do not expect the rise in oil prices this week to be permanent.
Cryptocurrencies had a hard sell last week. There were hard sales around 5-6%. It started the week on a flat course. Yesterday there was a level of $25955. The printing process continues. The negative outlook continues. There are 2 options. It will either break the $23500 level to the downside or break the 26500 resistance upwards again. But as the pressure here continues, Fed Chairman Powell's statements will be key here.
Sterling dollar parity was at 1.2743 yesterday. 1.27 is a strong support level.
News streams about the new epidemic are coming. This is quite worrying. We can see a process that seriously disturbs and disrupts the markets. However, will there be a variant that completely locks people at home? World markets can't handle it anyway. Let's see what the future will show us. However. The news from countries related to the new variant continues to disturb the markets. So I continue to keep my cautious wait. Let's protect our assets.
My opinions are not investment advice. Please do your own research.
