Markets Eyes on ECB Interest Rate Decision

XAUUSD - Gold Technical Analysis

Today, the ECB interest rate decision will be met. The CPI data announced yesterday in the US was within expectations, which helped to maintain the recovery trends on the Ons Gold side. On the other hand, China decided to change its monetary policy stance for the first time since 2011 and at the Politburo meeting, it was stated that monetary policy will be moderately loosened, while fiscal policy will be more proactive in 2025. The fact that the Central Bank of China started gold purchases after 6 months may also be a reflection of investor demand in China. For Gold, which followed a horizontal course in the morning hours today, 2735 and 2745 can be followed as resistance levels if upward movements continue. If downward movements come to the agenda, 2700 and 2690 dollars can be followed as support levels.

Resistances :  2735 / 2745 / 2760
Supports : 2700 / 2690 / 2675
 

XAGUSD Technical Analysis

Ons Silver, which followed a buying course before the ECB interest rate decision, continued its upward movements similar to Ons Gold with the US CPI data coming within expectations yesterday. On the silver side, the weekly appreciation experienced last week is trying to be maintained. In the precious metal, which follows a buying trend in the morning hours, 32.25 and 32.50 can be followed as resistance levels. In possible withdrawals, 31.95 and 31.75 can be targeted as support levels in their trends.

Resistances : 32.25 / 32.50 / 32.85
Supports : 31.95 / 31.75 / 31.65
 

EUR/USD Technical Analysis

Yesterday's CPI data in the US, which was within expectations, was almost fully priced in the markets, while the FED interest rate cut expectation rose to 98% in the swap markets. In the ECB interest rate decision to be announced today, the expectation is for a 25 basis point cut, but the possibility of 50 basis points is also on the table. From a technical point of view, 1.0525 and 1.0540 can be followed as resistance levels in the pair, which follows a buying course in the morning hours, contrary to the retreat experienced for 3 days. In possible withdrawals, 1.0490 and 1.0475 can be monitored as support levels.

Resistances : 1.0525 / 1.0540 / 1.0560
Supports : 1.0490 / 1.0475 / 1.0460
 

NAS100 Technical Analysis

Nas100 continues to break records. In parallel with the macroeconomic data announced in the US, which presented a picture that strengthened the possibility of interest rate cuts, the index contract, which was subject to profit sales in the new week after the sharp rise last week, rose after the US CPI data. In the futures index contract, which started the morning hours with slight sellers, 21650 and 21540 can be monitored as support levels if selling pressures come to the agenda in the rest of the day. In possible recoveries, 21850 and 22000 can be followed as resistance levels.

Resistances : 21850 / 22000 / 22100
Supports : 21650 / 21540 / 21370
 

UKOIL Technical Analysis

Recovery in oil continues. After Saudi Arabia's more than expected cuts in crude oil prices in Asia and the fall of the Syrian regime, the US CPI data also came within expectations, which gave value to the oil side. UKOIL, which retreated slightly after last week's OPEC decision, continues to recover in the current week. In upward movements, 74.25 and 75.10 can be followed as resistance levels. On the other hand, if retreats come to the agenda, 73.00 and 72.25 can be followed as support levels.

Resistances : 74.25 / 75.10 / 76.05
Supports : 73.00 / 72.25 / 71.70