Euro-dollar parity was at 1.10 level yesterday. It was withdrawn to the level of 1.0965 yesterday. There is a desire to recover from here, but as long as the strong stance in the dollar index continues, the 1.0850 support level in the euro-dollar parity continues to work. Why will the euro rise? Because the level of 92.94, which we predicted in the dollar index and expected until the end of the year, remains on the agenda, the advantage of the euro is greater. 1.12 and 1.1350, then 1.15 levels, this expectation still continues until the end of the year. Therefore, slumps below the 1.10 level may be 1.09 or 1.0850, and these regressions in August continue to create opportunities for investors who still hold dollars.
An ounce of gold was at 1937 dollars yesterday. I will continue to follow the 1930-1960 dollar band gap in the ounce price of gold this week. Pressing and tightening continues. The reason for the pressure here is that the FED members made statements in a hawkish tone and especially as the FED again left the markets on the edge of the knife, and seriously manipulated the markets, ounce of gold continues to be suppressed. But I continue to wait for these uptrends that I predicted in August. It may extend to September or October, but 2150 and 2250 will definitely come to the fore after 2350 levels. Therefore, do not think that the decreases on the ounce gold side will be permanent. An ounce of gold may enter an aggressive uptrend. Therefore, the sagging of 1930 and below continues to provide tremendous opportunities for medium and long-term investors.
The price of silver was at $23.11 an ounce yesterday. There is a 2.16% depreciation. Now is the time to buy silver. The $23.80 support level is followed by the $22.80 support level. Let's see if there will be reaction purchases here. But it looks like the future. From here, it can definitely show an upward movement. There was negative dissociation due to ratio.
Bitcoin was at $29055 yesterday. The printing process is still ongoing. It declined to the level of $28658. I was technically already waiting for the $28800 support level. But these were quickly tested. Even lower levels were tested. Here it remains within a seriously manipulated pricing. I think those waiting in cryptocurrencies seem to put their hopes on 2024. This suppression will definitely end one way or another. But they haven't finished that suppression until this time of year. They did not give way to cryptocurrencies. So, the possibility of an upward action in 2024 continues to get stronger day by day.
Oil prices were at $85.59 yesterday. There is a depreciation of 0.41 points. Transactions took place in the range of 84.94 - 86.84. When it rises to the level of $ 86, we observe that it is immediately faced with selling.
The dollar index was at $101.85 yesterday. It made transactions in the range of 101.78-102.19 dollars. It could not hold above the $102 level. However, this week is a very mixed and important week, because on Thursday, inflation data will be released in the USA.
For about 7 months, although the numerical values of inflation in the USA and other developed or developing countries continued to be low, the inflation in the households unfortunately did not decrease. The inflation figures announced by the countries have decreased, but the inflation will come back again, pointing to the second half of the year for 7 months, and will continue until the middle of 2024. I had warnings that inflation would not fall. I am guessing that these warnings may start to come true as of this week. Last month, June inflation was announced as 3% in the USA. Now, the inflation figure for July will be announced. My personal estimate is 3.2% or 3.3%, so we may face an inflation figure that will be higher than expected. When inflation starts to come back in the USA, it will start to follow it in other countries.
My opinions are not investment advice. Please do your own research.
