Euro Dollar parity dropped to 1.0533 level. My personal expectation for Euro Dollar parity is 1.12 level and every drop is a buying opportunity.
We saw increases in gold prices in October due to the Hamas war, that is, due to geopolitical risk tension. During this 3-week period, it rose to the level of 2005 dollars and there is a decline again. The band range we will follow in November is the 1930 - 2030 Dollar range. You can follow these band gaps on the ounce side.
There has also been a decline in oil prices in recent weeks. It fluctuates in the $85 - $90 range, which is a good thing. It is currently at $86. I do not predict that the decline in oil prices will be permanent. I think that as the tensions in the Middle East continue, upward movements in oil prices will be inevitable.
There have been serious increases in cryptocurrencies in the last two weeks. We saw a rapid rise from $28000 to $35000. However, these increases may not be permanent. Be careful, I expect sharp declines again. It would not be a surprise to me if there is a sag below the $ 30,000 level again. In order for permanent increases to continue, it must make an attack above the $40000 level. Again, since a process of manipulation and suppression continues, there is no complete flourishing on this side. Of course, those who trade in this market generally saw this optimism and had been waiting for the rise for a long time. Now that the bottom has been seen, I observe that they are consoling themselves by saying that new bulls are coming from now on. I can personally say that it is too early for this joy and expectation right now.
The rises in the dollar index are also noteworthy. I will continue to watch the 107 resistance at $106.87 this week. I can say that I expect a quick retreat from here. The FED's 25 basis point interest rate increase in December or January remains on the table. In other words, he continues to manipulate the interest rate increase before it is finalized, and such a fluctuation will therefore be possible. But I keep my prediction of a decline in the dollar index on hold. That's why I personally think that short-term positions should not be opened. My other important warning will be for Friday. Pay close attention to Friday. The news flow in the Middle East is not pleasant. Nothing happened in Palestine during the Friday prayer last week, it was peaceful. However, I do not expect that this Friday, we may see and experience serious problems. Therefore, it may be reflected in the markets. You'd better pay attention to Friday.
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.
