Following the declines seen in the European Central Bank's inflation data, markets are focused on the US employment data to be announced during the day. When looking at EUR/USD technically, the 1.0773 demand zone stands out as a critical level where buyers are concentrated. Buying reactions from this zone may support the price's rise towards 1.0966 levels. However, if the US data paints a negative picture, selling pressure may increase with the downward break of the 1.0773 level. In such a scenario, the possibility of the price falling to 1.0642 levels will increase.
The decline in the Bank of England's inflation data increased the selling pressure on GBP/USD, pushing prices down to the 1.2897 demand zone. If this level is broken downward, the downward trend is likely to gain momentum and pull prices to 1.2723 levels. On the other hand, if buyers step in in this zone, there is a potential for the price to rise to 1.3083 levels with a recovery movement. Although there are no strong technical signals supporting a positive outlook at the moment, this region, where price movements will be decisive, should be monitored carefully.
The focus in the market is on the US ADP private sector employment data to be announced during the day. With USD/JPY pricing highlighting bullish elements, I observe that the 150,008 supply region is struggling. If this level is broken upwards, the upward movement may accelerate and expand towards 151,515 levels. On the other hand, although there is no clear signal in terms of bearish scenarios at the moment, the selling pressure that may come from the current region may cause prices to retreat towards 147,800 levels.
I observe that volatility has increased in the oil market with the escalation of tension in the Middle East. While buyers continue to be active on the 69.05 demand region, the 74.51 levels stand out as critical resistance points in the bullish scenario. There is currently no strong downside risk signal, but if the 69.05 level is broken, the possibility of the selling pressure strengthening and the prices pulling down to lower levels may increase.
The fact that Bitcoin (BTC) whales have reached a three-month peak in an environment of increasing market uncertainty continues to support the pressure of sellers by increasing the effect of horizontal fluctuations in price movements. Technically, as long as the 85461 supply zone remains below, it seems likely that the downtrend will continue and prices will retreat to 76122 levels. However, the upward break of the 85461 level stands out as a critical threshold for buyers to take control of the market. In this case, the uptrend can be expected to gain strength and continue to 93388 levels.
While the fluctuations in the markets continue due to expectations that customs duties will be increased again in the US, I see that prices in Nasdaq are trying to hold on to the 19120 demand zone. Possible buying reactions from this region may support the price to enter an uptrend again and move towards 20141 levels. On the other hand, the ADP private sector employment data to be announced during the day should be closely monitored in terms of downside scenarios. If the data falls short of expectations, selling pressure may increase, leading to the price testing critical support levels.
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