ALB Limited 26.12.2024

Eyes on Nas100 during Christmas Week

XAUUSD - Gold Technical Analysis

Last week, there was an intense data set for Ons Gold. PMI data, interest rate decisions were the main theme for the precious metal. Although it is seen that geopolitical risks for Ons Gold are gradually off the table, macroeconomic data from the US continues to create question marks for the precious metal. Ons Gold, which retreated to its 100-day exponential average after Powell's speech after the interest rate cut, was seen as a recovery trend for the precious metal as the PCE data announced on Friday showed a slight cooling. For precious metal, 2645 and 2660 can be followed as resistance levels in upward movements. In possible retreats, 2610 and 2600 can be monitored as support levels.

Resistances : 2645 / 2660 / 2670
Supports : 2610 / 2600 / 2585
 

XAGUSD Technical Analysis


Similar to Ons Gold, Ons Silver, which showed a sharp retreat after the FED interest rate cut decision, shows horizontal pricing movements at levels close to the 200-day exponential average in the new week after the recovery movements on Friday. At the same time, with the potential rise from these levels, which corresponds to the fibonacci 61.8 level, $ 29.85 and $ 30.00 can be followed as resistance levels in the precious metal. In possible withdrawals, the level of 29.45, where the 200-day exponential average is located, can be followed as a support level. In case of a downward crossing of this level, 29.25 and 29.00 can be monitored as support levels.

Resistances 29.85 / 30.00 / 30.25
Supports: 29.45 / 29.25 / 29.00
 

EUR/USD Technical Analysis


Expectations that the FED would end the year with a 25 basis point interest rate cut were realised. It was also seen that the markets had largely priced it. Last week, ECB rate cut was realised and the statements afterwards were interpreted in a relatively dovish tone. This was also seen as the critical point for the FED. Lagarde's winking at new interest rate cuts increased the importance of the ‘What will Powell say?’ discourse that we have been saying since the beginning of the week. After the interest rate cut on the US side, the FED's revision of its expectations for next year and the hawkish tone positively affected the dollar index, causing sharp retreats in the pair. While the dollar index jumped above the 108 level, the pair fell to 1.03. Markets were closed yesterday due to Christmas and will be closed in many countries today. A low volatile day can be seen in the pair. The 1.0400 level can work as resistance and the 1.0365 level as support.

Resistances: 1.0400 / 1.0425 / 1.0450
Supports: 1.0365 / 1.0330 / 1.0300
 

NAS100 Technical Analysis


US stock markets, which were closed yesterday, will start trading again today. However, the fact that most of the investors are on holiday and the European stock markets are closed may affect trading volumes. On the Nas100 side, the retreat after the FED interest rate cut seems to have ended after the PCE data released on Friday. After the volatile course experienced at the close of the week, if the upward movements continue in the index contract, 22320 and 22440 can be followed as resistance levels. In possible withdrawals, 21950 and 21800 can be targeted as support levels.

Resistors : 22320 / 22440 / 22550
Supports : 21910 / 21800 / 21570
 

UKOIL Technical Analysis


Technically, 73.20 and 72.90 can be followed as support levels in case of continued retracements in UKOIL, which followed a sellers' course in the morning hours. In possible recovery movements, 73.90 and 74.25 can be followed as resistance levels. 

Resistances : 73.90 / 74.25 / 74.60
Supports : 73.20 / 72.90 / 72.557

Tags: Technical Analysis, Analysis, Forex

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