The medium-term upward trend in the DXY has been broken, but a move below $95 is needed for the declines to deepen. In the short term, increases to the 100-101 range are technically corrective. Our clear medium-term direction is downward unless it exceeds $105. Sequential targets are 95, 91, and 88, and in the longer term, we will discuss the 80-75 range.
The EURUSD, which has been trading within the large falling channel for 17 years, broke through and closed above the upper band of the falling channel in June. While a correction to 1.14 is possible in the short term, the main trend has clearly turned upward. The door must be opened to discuss higher levels. An upward break of the 1.23-1.25 range signals a period when the door will open and the euro will become king. Technically, as long as it remains above 1.10, all declines are buying opportunities. The main target price expectation is 1.40, and for the longer term, 1.60.
The Nasdaq continues its upward trend with 1-3% corrections. While the price doesn't produce a clear correction signal, algorithms are keeping the price significantly higher. Technically, a correction to the old low (22,300) is expected after the new ATH, but blindly shooting is only for beginners. Because there is no resistance, a short channel strategy is employed. In the short term, as long as it remains above 22,500, the target range is 24,500-25,000. In the long term, as long as it remains above 20,500, the target range is 27,000 and 30,000. For short-term trade declines, the 500-unit bands can be monitored.
The Dax continues to trade within the 1,500-point range. The upper band of the ascending channel has been broken, but no retest has occurred. Therefore, I have left two scenarios for you. In the medium term, the price is clearly pushing upward. The Chinese market's entry into the European market and additional Euro support will push it higher. The short-term rest zone is 22,800, which market makers can use to shake things up. In the medium term, as long as it stays above 21,500, the 27,000-30,000 range is the target.
Everything is moving as I expect in Bitcoin; a slight correction or a sideways movement (I don't think it will fall below 110,000) may occur in the short term. After that, 135,000-142,000 and the psychological resistance level of 150,000 will appear. I revised my medium-term target price range from 150,000-180,000 to 180,000-210,000, and it remains current.
I mentioned that the 3,500-3,700 range would be an easy target after Ethereum's 2,100 correction. Technically, I don't think the 4,100-4,500 level will be broken immediately. We'll be moving up to 4,100 right now, and there will be a fourth touchpoint. The door generally opens after the fifth or sixth contact. The only difference is that the correction won't be large or deep. For altcoins, the real significant gains begin after 4800 is broken. Of course, they won't stay put until 4100 and 4800 are reached. Products that are HARDLY CRUSHED at intermediate lows are expected to rebound by at least 800% to 1000%. Some products have already rebounded 2x to 3x from their lows. The first round will be 8x to 10x, the second round will be 30-50%, and the third round will be a sharper rally with Ethereum's new high. The profit and decision-making center here is yours; it's impossible to analyze each coin individually.
Silver is technically a clear-cut product. Our door is now open, and it may fluctuate between 40-36% for a while, eventually reaching our target price of $50+, but the game may not end there. As you know, Trump announced copper tariffs, which could disrupt the supply-demand balance in the less valuable semiconductor metal. The $50 level is psychological resistance. If it's broken, we can discuss targets of $60 and $75. Target prices of $8-10 for copper and $2000 for platinum are not far off.
Gold is technically very tight. It needs to decide on a direction this week. At its peak, it fluctuated between 3430 and 3250 for a while. Rookies and conventional commentators who failed to understand the global economic climate missed the commodity rally.
I expect it to settle above 3380 this week and rally to 3430. If we don't break through to 3430 this time, we could see declines towards the sell zone (3250). In the medium term, as long as we stay above $3000, the target is $4000. It's important to remember that I prefer silver, platinum, and even uranium over gold based on the risk-reward ratio.
Brent crude oil rose to $80 in light of geopolitical risks. Then, with the end of the war, it dropped $15 in a single day. Our new range seems to be set now, with the price at $55 at the bottom and $75 at the top. If we drop below 55, we could see another technical crash, perhaps 40-30. There's no inflation or recession, but there are signs of deflation coming from Asia, which could lead to deep declines.
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