Despite the decreasing inflation data in Germany, I observe that EURUSD pricing has dominated the 1.1071 demand zone in the medium term. The focus of the markets is on the European Central Bank inflation data to be announced during the day. A low inflation announcement in line with expectations may cause a pullback to 1.0944 levels, with pricing breaking below this zone. Although there is no clear signal in terms of optimistic price movements at the moment, buying reactions that may come from the 1.1071 demand zone may create fluctuations depending on the data to come from the US during the day. In this case, I can say that an increase towards 1.1158 levels may occur.
Selling pressures occurring below the GBPUSD 1.3230 supply zone continue the negative movement of prices and the course below this zone may cause prices to fall towards 1.3066 levels. However, it is necessary to stay above 1.3230 in order to observe buying movements. If this level is exceeded, prices may rise again towards 1.3330 levels.
In USDJPY, pricing continues its horizontal course with US growth data coming in above expectations. Japan's interest rate hikes play an effective role in the market. The squeeze in the 142.937 demand area may support the positive price movements towards 148.626 levels. However, if the core inflation data to be released from the US during the day affects pricing negatively, it is possible that the 142.937 demand area will be broken. In this case, prices may decline towards 139.601 levels in the medium term.
The squeeze in pricing in ounce gold continues to maintain its dominance under the 2524.7 supply area. The effect of the US growth data has reduced the dominance of sellers in the commodity market. However, the current dominance is currently negative and the 2524.7 supply area will need to be broken in order for pricing to gain a positive dominance against the core inflation data to be announced during the day. If this level is exceeded, it is predicted that prices may continue to support purchases towards 2550.2 levels. In terms of downward scenarios, reactions from 2524.7 levels may cause prices to decline towards 2463.5 demand area.
The anticipated purchase reinforcements in oil indicate that pricing continues to be effective on the 74.26 demand area. If pricing continues above this area, it is expected that the upward dominance towards 78.37 levels will continue. There is no clear situation regarding downward movements for now. In particular, the re-escalation of Russia-Ukraine tensions and statements regarding new arms supplies from Europe to Ukraine will continue to support the upward trend in pricing.
The fluctuating process in Bitcoin continues to dominate the 57055 demand area. Reactions from this area may support prices to rise to 65645 levels. However, there is no clear signal yet for the current downward movements. Considering that the movements in the channel structure are about to be completed, closing below the region may cause a decline to 51352 levels.
The increases seen after the decline in inflation data in Germany continue strongly. The pricings continuing above the 18543 demand region in the DAX may be affected by the ECB inflation data to be announced during the day. It is important to protect this region for the continuation of the increases. In this case, it may be possible for prices to rise to 19443 levels. However, breaking the 18543 demand region for downward movements may cause prices to experience a deep correction towards 17859 levels.
Despite the effect of weak balance sheets in Nasdaq, the negative trend in pricing remains limited. While the pressure continues below the 19594 supply region, the possibility of prices falling towards the 19076 demand region is increasing. However, I do not observe a clear situation for an optimistic price movement at the moment. If the 19594 supply zone is breached, prices are likely to rise towards 19971 levels. The market is currently focused on US core inflation data, and the direction of pricing may become clear after these data.
The information, comments and recommendations contained herein are not within the scope of investment consultancy. Investment consultancy services are provided within the framework of the investment consultancy agreement to be signed between brokerage firms, portfolio management companies, banks that do not accept deposits and customers. The comments in this article are only my personal comments and these comments may not be appropriate for your financial situation and risk return. For this reason, investments should not be made based on the information and comments in my articles.
