Euro-dollar parity was at 1.0745 yesterday. I will continue to follow the 1.0775 level. However, a profit sale may come from there again. The band range I follow is 1.06-1.08. It will oscillate within this band range until the US central bank FED's interest rate decision next week. After seeing the interest rate decision, it continues its upward movements again. In the short term, we will see a parity that oscillates between the 1.06-1.08 range. I think it would be a good decision to turn the figures at 1.07 and below into a medium and long-term buying opportunity.
An ounce of gold was at the level of 1921 dollars yesterday. Yesterday, the $1930 resistance was tested during the day and came back again. It traded between 1916-1930 dollars during the day yesterday. The suppression process continues until the FED's decision. Technically, I follow the 1900-1930 dollar range. In order for the rise to continue, the 1930 dollar level must be broken upwards. For the decline to continue, the 1900 support level must be broken downwards. These days, it is stuck in a narrow band gap. It will continue to circulate in the 1900-1930 range until the FED's decision. In October, the wind will reverse on the ounce gold side and we will see the level of 2000 dollars. I will continue to follow the 2080-2150 dollar levels until the end of the year. Although the pressure for ounce gold continues in the short term, the direction seems to be upward in the medium and long term.
Ounce silver made a rapid recovery yesterday at $23. I continue to follow the 2.80-23.80 range.
Brent oil continued its efforts to hold above the $90 level on the first trading day of the week. The target is the $96 level. Then there will be a regression again. However, the trend generally supports upward movements. The explanations are in this direction.
In cryptocurrencies, bitcoin was at the level of 25104 dollars yesterday. There was a 3% increase. There is a sharp regression. On the Bitcoin side, I continue to follow the $23500-26500 range. They continue to seriously suppress and manipulate.
The dollar index was at 104.14 yesterday. There was a 1% depreciation. It went up a lot last week. There is a correction movement these days. I will continue to follow the 104-105 range.
This week is important, inflation data will be announced in the USA. I said that inflation will come back in developed and developing countries. We started to see these one by one. There was US inflation that dropped to around 3%. It was announced as 3.2% last month. So we saw upward movement. Don't be surprised if inflation data in the USA is announced as 3.6-3.7% this week. Inflation is back. Be prepared for world markets to feel inflation again in developed and developing countries. The FED has an interest rate decision next week. Inflation data will be effective in the interest rate decision. The US central bank, the FED, will probably increase interest rates again. This will be the last interest rate increase. Then we will see a FED stepping aside. There will be nothing left to manipulate. We will all see that the FED will start reducing interest rates again, probably after half of 2024.
My opinions are not investment advice. Please do your own research.
