Market-6

My Thoughts on Current Markets-6


Due to Fitch's downgrade of the US's long-term credit rating, a negative image prevailed in the stock markets. In the US, indices fell between 1-2.2%. Markets in Europe were generally negative. The Euro Stoxx 50 index ended the day with 1.6% decline. On the data side, ADP's non-farm employment increased by 324,000, well above the estimate of 189k. In this environment, the Dollar Index (DXY) rose to 102.8, while the EURUSD fell as low as 1.0918. The last transactions in the 10-year interest rate in the USA passed from 4.1%, and in the 2-year interest rate passed from 4.9%. Looking at today, both American and European futures are flat. Markets in Asia are mixed. There is no significant change in the MSCI Asia Pacific index excluding Japan. In addition to non-manufacturing PMIs in Germany and the USA abroad, factory orders and durable goods orders in the USA are among the data to be announced. The Bank of England's interest rate decision is at 14:00 CEST. Market expectations point to a 25 basis point increase in interest rates. In addition, the 2nd quarter financial results of Amazon and Apple will be monitored in the USA.

There was a support level of 1.0950 in the euro-dollar parity. It will likely test below the 1.09 level in the short term. However, there is no change in our forecasts and expectations for the end of the year in euro-dollar parity. Our expectation of 1.15 level continues. The investor, who bought euros in the range of 1.0950-1,0850, found advantageous and good opportunities. Investors with dollars in hand should evaluate this process well. These opportunities may not come again until the end of the year. Those who do not want to buy euros can buy ounces of gold or ounces of silver.

This week's expectations were met. In gold, there is support level below $1935 and resistance level above $1935 and I am following this range. Yesterday this support level worked. I think it's at an acceptable level. There may be a short-term sagging below the 1935 dollar level again. We can see the level of 1920 dollars. However, I think it is important to enter here rather than taking a risk of $ 20. Or, an investor who wants to wait for the support level of $ 1920, can close at least 75% of his position here. Because I frequently state that we expect attacks above the $2000 level in August. We are faced with an ounce of gold that will quickly attack above the $2000 level. Those who want to buy gold should reconsider these opportunities and should not miss it.

I had warnings to stay away when silver was $25 an ounce. I have often stated that I am waiting for the support levels of $ 23.80 in the continuation of 24.8. Yesterday, silver ounce price broke the $23.80 support level to the downside. The $23.65 support level appears to be a strong support level. From here, we can see rapid upward movements again. I think you have a good opportunity to buy silver. The first target towards the end of the year is 26 dollars. I think these are suitable for entry.

I stated that oil prices had risen to the level of 85 or even 86 dollars, but I thought that these levels would not be permanent. We saw a quick retreat. There was a 3.24% depreciation yesterday. I do not see the rise in oil prices healthy.

I said don't be surprised if you see the levels of 32000 and 32500 dollars in August from the 28800 dollar support level of Bitcoin. These warnings are still valid. That's why I think the declines will not be permanent in this month.

Sterling-dollar parity was withdrawn to the level of 1.2680 yesterday. I think it should be based on the 1.31 level. I think it is appropriate to buy sterling at current levels.

My opinions are not investment advice. Please do your own research.

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