Following the fluctuating course in the European Central Bank inflation data, the EUR/USD parity, which accelerated its decline with the FED interest rate decision, continues to hold above the 1.0345 demand zone. I expect pricing to show a short-term recovery with possible buying reactions from this zone and target the 1.0482 level. However, in order for the bearish scenario to come into play, the 1.0345 demand zone needs to be broken. In this case, it seems likely that the price will decline towards the 1.0213 levels.
From a technical perspective, I observe that the pressure under the 1.2639 supply zone continues in GBP/USD, and this situation indicates that the declines may continue to the 1.2502 levels. Although there is no clear situation yet for optimistic scenarios, an upward break of the 1.2639 supply zone may cause the price to gain positive momentum towards the 1.2753 levels.
The message that the tight monetary policy will continue for two more years with the statements of the FED Chairman caused the positive momentum in the markets to continue strongly. The dominance over the 156.092 supply region in USD/JPY seems likely to continue towards 158.298 levels from a technical perspective. Although there is no clear expectation for now regarding the downside scenarios, we can predict that if the US data to be announced during the day is negative, short-term reactions may reveal the possibility of a decline towards 153.580 levels.
The prediction that the expectations of the tightening policy will continue for the next two years causes the pricing in the markets to be negatively affected. While it is seen that the dominance over the 2584.8 demand region in ounce gold continues, it can be evaluated as a positive scenario that the price moves towards 2647.4 levels as a result of the reactions that can be received from this region. However, although there is no clear signal from technical structures in terms of downward dominance at the moment, if the 2584.8 demand zone is broken, the possibility of the price falling towards 2537.3 levels may come to the fore.
The selling pressure that emerged with the high US crude oil inventory data seems to have gained strong momentum in the short term. The ongoing suppression below the 70.29 supply zone increases the possibility of the price falling towards 67.02 levels. Although there is no clear signal for optimistic price movements at the moment, if the 70.29 supply zone is broken upwards, it seems technically possible for the price to gain positive dominance towards 72.64 levels.
I observe that pricing has started to retreat after the record above the 105716 level in Bitcoin. Staying below this level may increase the possibility of the price falling towards 91161 levels, and the current horizontal channel structure also supports this scenario. However, breaking the 105716 supply zone is of critical importance for optimistic price movements. In this case, it can be technically predicted that the price will move towards 119211 levels with positive momentum.
I observe that the sales volume in DAX has increased strongly following the inflation data of the European Central Bank, which is above the previous but below expectations. The 19842 demand zone is an important support area for buyers. As it approaches this level, the testing of the zone due to the price's loss of momentum may lead to short-term buying reactions. However, such purchases may prepare the ground for structures that may offer new selling opportunities in upward movements. For the continuation of downward movements, the breakdown of the 19842 demand zone may support the price's decline towards 19590 levels.
The statements made by the FED President emphasized that the interest rate reduction process will continue for the next 2 years, and caused serious selling pressure in technology companies. In this context, I see that the deep selling pressure observed in the Nasdaq index continues to affect the 20965 demand zone. If this level is maintained, a short-term buying reaction towards 21534 levels may occur. However, if the downward movements continue, the possibility of a pullback towards 20612 levels can be foreseen from a technical perspective, with the price breaking the 20965 demand zone after a small correction.
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