Sirwin
Sirwin

My Thoughts on Current Markets-82


I stated last week that I would follow the 103 - 104 dollar range in the dollar index. It may even go up to $104.20. But after that it will make it down again. This thought is valid again for this week. The dollar index will attack above the 104 level again. The dollar will continue to maintain its strong stance all over the world. So, if the dollar index will rise and break the 104 level, how will the euro, gold, silver or sterling be affected? Of course, it will be negatively affected in the short term, and since the suppression process continues, I expect a retreat in the ounce gold, silver ounce price, euro - dollar parity, sterling - dollar parity until Wednesday of this week. But we will continue to see upward movements again after Wednesday. After the dollar index rose above the 104 level, we will see increases in gold, silver and instruments such as sterling and euro, which were suppressed as of Wednesday. So how much could the declines be until Wednesday?

For example, on the ounce gold side, the 2018 dollar second support level operates this week. Above is the 2058 resistance level. So this week you can follow the range of 2018 - 2058 dollars. If the 2018 dollar level breaks downwards, there is the 2008 dollar level we expect, and that can also work. But these are recent declines and the trend is up again. I continue to expect this level to reach 2150 dollars in the first place and 2350 dollars within the year.

There is a support level of $22.50 per ounce of silver. There is a resistance level at $24 above. I will continue to follow the $22.50 - $23 range this week.

I would like to remind you that I have often mentioned the $ 38000 level on the bitcoin side in the cryptocurrency market and that I am still waiting for these levels. The pressure still continues at the level of 42785 dollars. Again, it was stuck in the narrow band gap. It is useful to focus on the broadband range of 38000 - 48000 dollars. This suppression will continue. But there will be a news flow and we will see attacks above the $ 43000 level again. There will be such volatility and uncertainty in the markets. It would be beneficial for you to follow it accordingly.

There is a level of 77.5 dollars in oil prices. The week will start with sales. The range of 75 - 80 dollars in oil prices still remains valid. So you may hear some surprising news this week.

In Euro - dollar parity, my band gap remains valid as 1.08 - 1.09. But there is a support level of 1.730 below the 1.8 level, which may work this week. There is no change in my expectation here, I continue to wait for the level of 1.12 and then 1.15.

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.

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