ALB Limited 18.09.2024

FOMC Decision Today in the US

XAUUSD - Gold Technical Analysis

Before the FED interest rate decision to be announced today, a 50-point interest rate cut is priced at 65% in swap markets. After the industrial production and retail sales data announced on the US side yesterday came above expectations, soft landing scenarios came to the agenda again. Following all these developments, Ons Gold is following a slightly buying course in the morning hours. The first upward resistance for the precious metal, which is priced at $ 2575 levels after yesterday's retreat, seems to be $ 2600. If this level is passed, 2625 and 2650 can be followed as resistance levels. In possible withdrawals, $ 2550 and $ 2525 can be followed as support levels.
 
Resistances:
2600 / 2625 / 2650
Supports: 2550 / 2525 / 2500
 

XAGUSD Technical Analysis

Before the FED's interest rate decision, the possibility of a 50 basis point cut is strengthening. Ons Silver, which spent the week with a buyer's course, has a sellers' course in the morning hours. If downward movements continue in the precious metal, 30.20 and 29.80 can be followed as resistance levels. In possible recovery trends, 30.70 and 31.05 can be followed as resistance levels.
 
Resistances: 30.70 / 31.05 / 31.45
Supports: 30.20 / 29.80 / 29.50
 

EUR/USD Technical Analysis

In the short term before the FOMC decision, a horizontal course is observed in the dollar index, while a positive course is observed in the EUR / USD parity. If the upward movements continue during the day, 1.1130 and 1.1140 can be followed as important resistance levels. In downward movements, 1.1110 and 1.1100 can be followed as important support levels.
 
Resistances: 1.1130 / 1.1140 / 1.1150
Supports: 1.1110 / 1.1100 / 1.1080
 

NAS100 Technical Analysis


While a short-term increase in risk appetite is observed before the FED decision, which is expected to be announced at 21:00 today, a limited negative course is observed in the morning hours in the 2024 September futures index contract. Technically, if downward movements continue, 19370, which corresponds to the 23.6% fibonacci slice, and 19300, where the 50 and 10-day exponential moving average is located, can be followed as important support levels. In upward movements, 19600 and 19700 can be followed as important resistance levels.
 
Resistances: 19600 / 19700 / 19800
Supports: 19370 / 19300 / 19235
 

UKOIL Technical Analysis


After two days of positive closure, UKOIL is following a negative course in the morning hours today. Oil prices, which have declined in connection with increasing US oil stocks, tensions in the Middle East and Fed's interest rate policy expectations, can be followed as important support levels of 73.00 and 72.50, where the 10-day exponential moving average is located, if downward movements continue technically. If upward movements continue, 73.60 and 74.00 can be followed as important resistance levels.
 
Resistances: 73.60 / 74.00 / 74.30
Supports: 73.00 / 72.50 / 72.00

Tags: Technical Analysis, Analysis, Forex

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