Euro - dollar parity is at 1.92 level. There is a strong support level at 1.08 this week. The recovery in the dollar index may positively support the euro - dollar parity. However, my expectations in the medium and long term, that is, in 2024, are still the same, nothing has changed. I continue to wait for 1.15 level after 1.12. When these levels come, I will make my transaction here again on parity.
Ounce gold is at the 2022 dollar level. There is a horizontal trend on the ounce gold side. But this week, I think there is a desire to decline up to 2000 dollars or a little below the 2000 dollar level, to the 1995 dollar level. It wouldn't be a surprise to me if the $2000 or even $1995 level is tested this week. There is such a desire because there is resistance at $2060 above. What do I mean, you can follow the 1995 - 2060 dollar band range for this week. In 2024, we will see a trend where the $2000 level will be the bottom level and the $2350 level will be the target point. My positive expectations for gold continue in 2024.
I frequently stated last week that the decline in oil prices would not be permanent. 3% premium at $79.18. Today is the first trading day of the week, I continue to expect an increase targeting the 90 dollar level in 2024, the declines are not permanent.
In the cryptocurrency market, bitcoin has a 1.35% depreciation at $41662. There are sales on the bitcoin side. I will continue to follow the $38000 - $42000 range. Write it in your agenda and see what happens.
The dollar index is at $102. It may want to test the $103 - $103.50 resistance this week. So, in the upward movements, I will continue to follow the $103.50 resistance in the continuation of 103. However, we will see a declining dollar index again. After that psychological level of $100 is broken downwards, we will see a dollar index that retreats to the level of 92 in 2024.
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