I often state that there may be a decline in the euro - dollar parity to 1.06, but this will still provide a buying opportunity for medium and long-term investors and those who have new dollars. This week, my expectation almost came true. We were faced with a euro-dollar parity that fell from 1.0738 to 1.650. Currently, I see a strong possibility that the upward movements in the euro - dollar parity will continue at the level of 1.0684.
On the ounce gold side, my expectations came true this week. Especially on Friday last week, there was an ounce of gold that rose above the 2000 dollar level exactly a week ago. I warned investors here. Even though ounce gold made attacks above the 2000 dollar level, the non-agricultural employment data in the USA was announced last week, but it was less than expectations. However, I would not buy ounces of gold above the $2000 level. In the continuation of 1960, the dollar should retreat to the 1930 support level. I continue to follow Ons. Then I will make a decision again. Especially when it fell to the 1960 dollar level, I personally bought 75% here at the 1960 dollar level. For the other 25%, I was waiting for the $1930 support level. Currently, it is completing the week with a 1% decline in value at the 1937 dollar level. So, technically, it happened at the levels I expected for this week. The question is, will it drop below the 1930 dollar level? Technically, we will continue to see this on Monday, and especially if the $1930 level breaks downward again on Monday, there is a $1918 support level below. However, if there is a rapid recovery from here, there is a level of 1960 dollars above. We will see this more clearly on Monday.
The ounce price of silver is at $22.27 with a 1.5% sell-off. There is a retreat there too. In other words, the $22.80 level was broken downwards. I will watch the $22.15 level. From here, my prediction of the 24 - 26 dollar level is still valid. There is a high probability of re-entering the uptrend. Don't forget that December is the month of silver.
The sharp declines in oil prices this week were very striking. However, I would like to reiterate that the decline in oil prices will not be permanent. Even though it reached the level of 80 dollars, it is currently finishing the week with a 2.5% premium. I will follow an oil price of $82. However, we may encounter an oil price that attempts to reach 90 dollars at the first opportunity. Those who operate on the oil side also need to be knowledgeable on this side. This week I would like to draw attention to a different investment tool. Because I don't comment on every article I write. Palladium was at $847 yesterday. It was at the level of $986, there is a sharp decline. Let our friends who want to open a position on the Palladium side be informed. With the decrease in demand on the vehicle side, we saw sharp declines on the Palladium side. Palladium is also an alternative commodity, precious metal or investment tool. Those who are interested in palladium or want to be interested in it should also know that palladium, which is currently at the level of 847 dollars, is cheap. I can also say that our friends who buy from here will have an advantage like gold and silver. Palladium fell sharply. I wanted to comment on this along with this harsh regression. You can consider this as an alternative.
In cryptocurrencies, Bitcoin was at the level of 37362 dollars yesterday. It completes the week with an increase of 2.18%. Let's open a parenthesis right away. Only Bitcoin rose, there is no movement in altcoins. Those who lost their assets, those who lost 80% of their assets, had already failed in altcoins. Therefore, since Bitcoin is the backbone here, Bitcoin is at least more advantageous than others. Therefore, the rise of bitcoin does not mean that altcoins also rise or gain value. It is necessary to distinguish these from each other. The bull market has started, the perception is that the rise will continue, so I am cautious and continue to wait on the sidelines.
When I make a favorite, for example, which one should be the current favorite in my cart. 1 euro - 2 Sterling - 3 Palladium - 4 gold - 5 Silver I can continue the order like this.
The dollar index was at $105.68 yesterday. I do not expect the increases to be permanent. Technically, I will follow the $104.50 level below. This week we have left behind an unpleasant week.
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.
