Positive Course in Precious Metals

XAGUSD Technical Analysis

Similar to Ons Gold, Ons Silver, which showed a sharp retreat after the FED interest rate cut decision, followed a horizontal course on the first trading day of the new week after the recovery movements on Friday. In the precious metal, which is priced at levels close to its 200-day exponential average, 29.85 and 30.00 can be seen as resistance levels if upward movements strengthen. In retreats, 29.45 and 29.25 can be followed 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. Recovery was achieved with Friday's PCE data. Today, a sellers course is observed in the pair. 1.0365 and 1.0330 support levels, 1.0425 and 1.0450 can be followed as resistance levels.

Resistances: 1.0425 / 1.0450 / 1.0485
Supports: 1.0365 / 1.0330 / 1.0300
 
 

NAS100 Technical Analysis

On the Nas100 side, the retreats experienced after the FED interest rate cut seem to have ended after the PCE data released on Friday. In the index contract, which spent the first trading day of the new week with buyers after the volatile course experienced at the close of the week, 21850 and 22000 can be monitored as resistance levels if upward movements continue. In possible retreats, 21650 and 21540 can be targeted as support levels.

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

UKOIL Technical Analysis

Technically, 73.65 and 74.25 can be monitored as resistance levels in UKOIL, which shows pricing movements in a similar region with its 10 and 21-day exponential average, if the buying trend in the morning hours continues. In possible retracements, 72.55 and 72.00 can be targeted as support levels. 

Resistances : 73.65 / 74.25 / 74.60
Supports : 72.55 / 72.00 / 71.50