Euro - dollar parity may hang below 1.09 level. It may test the 1.0850 support level one last time. In upward movements again, we will see a Euro - Dollar parity that settles above the 1.10 level and continues on its way in 2024 as 1.12 - 1.15 - 1.17. Therefore, Euro - Dollar parity will provide a short-term buying opportunity. I had a warning to consider this carefully. Today, euro - dollar parity dropped to 1.0892. So, our expectation came true. Currently, Euro - Dollar parity is at 1.091. I will be watching the 1.0880 support level. We have a Euro-Dollar parity that will continue its upward movements with a rapid recovery from there. Currently, the Euro is a little cheaper compared to the dollar, gold or silver due to parity. So, in order not to be short-term, for example, you will come to the stock market and wait for gold to decline in the short term. For a different reason, you will have to make a choice so that you do not remain short-term, this is called the Euro.
On the ounce gold side, there is a level of 2033 dollars. There was a rapid increase in upward movements. There was a rise to the $2047 level. Today, ounce gold is currently at the level of 2033 dollars. There is no change in the band range we follow. The $1980 support level is the $2080 resistance level. So, I continue to follow this band range of 1980 - 2080. The rises continue. However, it does not see new highs again without giving it a final buying opportunity in December. Because it rose quickly. Technically, it needs to make a correction, and in order for it to make a technical correction, it will gradually fall below the 2015 - 2000 dollar level. In such gradual declines, I will maintain my buy position again. Of course, I think it is more advantageous to wait in Euros while waiting. That's why I expect the level of $ 2350 in the medium and long term. But after such a rapid rise in the short term, technically there needs to be a downward correction. I will continue to follow the 1980 - 2080 dollar range. I expect a decline in ounce gold in December. It may retreat to the $1980 support level. But these withdrawals may not be very permanent. Therefore, every decline should be evaluated as a buying opportunity. Let's focus again on wide bandwidths. Because December will be a very busy month. We will close the year, positions in global markets will be important for the annual closing. There are many important data announced in America. On the ounce gold side, on the ounce silver side, on the Euro-Dollar parity, on the dollar index, the statements and moves coming from America will be very important for the annual closing of the markets and the messages in the first quarter of 2024. So be sure to follow the developments in December closely. But let me tell you this, for example, non-agricultural employment data will be announced in America in December. This is an important data, secondly, inflation data will be announced in America again. There will be a very important development in the first 2 weeks of December. Then, the Federal Reserve Bank of America will announce its interest rate decision. The interest rate decisions of the Federal Reserve, the Federal Reserve, will also be important for global markets or will be important for 2024. It will either pass in December or raise interest rates one last time, or it will make that last move to increase interest rates in January. Because the uncertainty in the markets is whether the FED will increase interest rates in December or January. There is confusion and uncertainty here. Therefore, the moves in December will also have a significant impact on commodity prices. That's why I would like to warn you in advance against the sharp fluctuations in December.
The ounce price of silver is at $25.09. There is no change in my expectations here. We first saw a two dollar rise to $22. We then saw $24. It is currently at $25 and the target is $26. There is no distortion in the image here.
I stated that the decline in oil prices would not be permanent and that I expected them to rise again. It fell below the $80 level. It is currently up 1.67% at $84.25. The direction is up, but it continues to hover around the $80 - $85 range in the short term.
Bitcoin has a level of $37706 on the side. The horizontal remains calm and suppressed. On the Bitcoin side, I will continue to follow the range of 35000 dollars and then 40000 dollars.
The dollar index had declined very sharply. It is currently at $103.27. In my opinion, although there is a recovery and reaction in the dollar index, the outlook is negative. I will continue to watch the $92 support level in 2024.
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.
