Fed Rate Cut Expectations in Uncertainty
XAUUSD - Gold Technical Analysis
Ons Gold, which spent last week gaining value and renewing its historical peak, renewed its peak with $ 2589 on Monday. While stepping into the FOMC week on the US side, pricing movements on the Ons Gold side are waiting for interest rate cuts. Expectations for a 50 basis point interest rate cut seem to have increased in the market. On the other hand, in terms of gold, the Houthis' attack on Israel also affects pricing. Today, there is some profit realisation before the FOMC in the morning hours. Technically speaking, the precious metal, which was able to maintain the permanence above $ 2500, which we mentioned earlier, closed last week at 2577. If the upward movements in Ons Gold continue, $ 2600 and $ 2625 can be monitored as resistance levels. In retreats, 2575 and 2550 can be followed as support levels.
Resistances: 2600 / 2625 / 2650
Supports: 2550 / 2525 / 2500
XAGUSD Technical Analysis
Ons Silver, which completed last week with a value gain, started the FOMC week with a buying trend. In the precious metal, which continues to rise in line with the FED's 50 basis point interest rate cut expectations, the $ 30.00 level we mentioned in the past weeks seems to have broken. Ons Silver, which tested above the $ 31.00 level yesterday but could not provide permanence, shows its strong stance in the morning hours today. The first resistance for the precious metal can be monitored as 31.00. If this level is exceeded, 31.50 and 31.75 can be followed as resistance levels. In possible retreats, $ 30.40 and $ 30.20 can be targeted as support levels.
Resistances: 31.00 / 31.50 / 31.75
Supports: 30.40 / 30.20 / 29.90
EUR/USD Technical Analysis
While the dollar index closed negatively yesterday, a limited positive course is observed in the morning hours today. However, a short-term negative movement is observed in the EUR / USD parity in the morning hours. Technically, if downward movements continue, 1.1110 and 1.1100 can be monitored as important support levels. In upward movements, 1.1140 and 1.1150 can be followed as important resistance levels.
Resistances: 1.1140 / 1.1150 / 1.1165
Supports: 1.1110 / 1.1100 / 1.1080
NAS100 Technical Analysis
Uncertainties continue in the interest rate cut rate expected to be announced by the FED tomorrow. In the 2024 September futures index contract, a positive trend was observed in the morning hours today, while 19600 and 19700 can be followed as important resistance levels if upward movements continue during the day. In downward movements, 19380, which corresponds to the 23.6% fibonacci slice, and 19300, where the 50-day exponential moving average is located, can be followed as important support levels.
Resistances: 19600 / 19700 / 19800
Supports: 19380 / 19300 / 19235
UKOIL Technical Analysis
Due to the uncertainties regarding the US Federal Reserve's (Fed) interest rate cut and supply concerns in Libya, a positive course is observed in UKOIL in the short term. Technically, 73.60 and 74.00 can be monitored as important resistance levels if upward movements continue. In downward movements, 72.90 and 72.30, where the 10-day exponential moving average is located, can be followed as important support levels.
Resistances: 73.60 / 74.00 / 74.40
Supports: 72.90 / 72.30 / 71.70
