Hello, we started a new week. We are keeping our eyes and ears on the news flows coming from the Middle East. We continue to closely follow the statements and developments on the foreign diplomacy side compared to the slightly calmer week. There are sharp sales, especially on the stock market side. There are sharp increases in the cryptocurrency market. Inflation data will be announced on the European side.
The dollar index is currently at 1.0627. With inflation in the euro area, a rapid recovery in the euro-dollar parity and a decline in the dollar in international markets may be possible. Since I divided the days before Wednesday and Wednesday into two, various opportunities continue to present themselves to investors. I would especially like to express that I expect a downward trend in the dollar index. The $1.05 and $1.0450 levels will have a significant impact here. After Wednesday, we can see downward movements of the dollar and upward movements of the euro - dollar parity for 3 days, namely Wednesday, Thursday and Friday. Euro - Dollar parity is at the level of 1.0528, I continue to follow the resistance at 1.650 and then 1.07 this week. Medium and long-term investors are presented with an opportunity in the euro-dollar parity this week.
An ounce of gold was at the level of 1817 dollars yesterday. Last week, we saw that it rose from 1811 dollars to 1832 dollars due to geopolitical risk. Profit sales are natural from here. There is a support level of 1908 dollars and above it is a resistance level of 1980. I will continue to follow the 1908 and 1980 dollar range. This bandwidth is important to me. Short-term pullbacks are not permanent. I can say that I expect a rise again on the ounce gold side after Wednesday. Investors who hold dollars in their hands need to know that they are facing low pricing in order to turn the declines in ounce gold into an opportunity.
Ounce silver was at $22.60 yesterday. It continues to maintain its strong stance. My expectation for 24 dollars continues.
There are sharp fluctuations in oil prices. It is currently at $89.4. It rose to $91.68 during the day yesterday. There is such hesitation as to whether to stay above the $90 level or not. It may continue its horizontal wait in the range of 85 - 90 dollars this week. However, in the next attacks, we will see an oil price settling in the 90 - 95 dollar range. I care about the rise in oil prices. Increases in oil prices continue to support inflation positively.
In the cryptocurrency market, Bitcoin rose to $30514 yesterday. Currently, there is a 3.62% increase in value at the level of 27970 dollars. There are geopolitical risks. I stated that in this environment, Bitcoin may rise to the level of 30 - 31000 dollars. These increases would not be surprising to me. People are transferring their assets to crypto money because they are afraid of war. Therefore, I stated that I foresee an increase in Bitcoin to the level of 30 - 31000 Dollars due to the war currently taking place in the Middle East. You will see together that these increases are not actually a surprise to me. I expect new surprises in the cryptocurrency market by the end of the year. Especially on the American side, we already have a period of 1.5 months before the end of the year. If there is an officially recognized cryptocurrency market in the US during this period, it will bring new rallies in the cryptocurrency market. It wouldn't be surprising if we see new rallies by the end of the year. That's why investors in the cryptocurrency market need to pay attention to news flows coming from America or nation states.
In general, geopolitical risk, namely the Palestine-Israeli war, took first place in the markets. Secondly, global markets will follow the inflation data in the Eurozone this week and, in general, it will be a period in which geopolitical risks escalate.
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.
