ALB Limited 13.01.2025

Sharp Rise in the Dollar Index

XAUUSD - Gold Technical Analysis
 
Last week, the US side was quite active. Fed minutes, JOLTS data, PMIs, ADP... but the last word was Non-Farm Payrolls data on Friday. It showed an increase of 256k above the expected level of 153k. The market started to revise interest rate cuts. The dollar index is priced just below 110 levels. On the other hand, geopolitical developments continue with Trump. Panama and Greenland are on the agenda. Central Banks' demand for gold is known. On the technical side, the $ 2700 level can be defined as a resistance point, while $ 2665 can be monitored as a support level.
 
Resistances 2700 / 2715 / 2725
Supports: 2672 / 2665 / 2650
 

XAGUSD Technical Analysis

 
Sharp retracement on the ounce silver side. After testing its 200-day average, the precious metal, which is priced upwards, is on a sellers' course on the new trading day. The dollar index and US bonds, which are strong in the morning hours on the precious metal side, can be a factor in pricing movements. On the technical side, the 30.30 level, where the 50 and 100-day averages converge with the retreat experienced on the first trading day of the new week, is seen as an important threshold for the precious metal, while $ 30.60 can be followed as the resistance level if it passes above this level. 29.90 dollars can be followed as a support level.
 
Resistances:  30.30 / 30.60 / 31.00 / 31.40
Supports:  29.90 / 29.60 / 29.45
 

EUR/USD Technical Analysis

 
An important week was left behind for the pair. In addition to the increase in inflation in the Euro Area in December, strong macroeconomic data on the US side shapes the pair. The sharp retreat in the pair after the Non-Farm Employment data announced on Friday continues on the first trading day of the new week. The dollar index is priced just below the 110 level. Technically, a sellers' course is observed in the morning hours. In downward movements, 1.0200 and 1.0150 can be monitored as support levels. In possible upward accelerations, 1.0260 and 1.0300 can be targeted as resistance levels.
 
Resistances: 1.0260 / 1.0300 / 1.0345
Supports  1.0200 / 1.0150 / 1.0090

 

NAS100 Technical Analysis

 
Retracements continue on the Nas100 side. 20985 and 21220 can be monitored as resistance levels in downward movements in the index contract, which retreated after the peak level seen on 17 December and showed pricing movement at levels close to the 100-day exponential average. In retracement movements, 20825 and 20680 can be monitored as support levels.
 
Resistances : 20985 / 21220 / 21345
Supports : 20825 / 20680 / 20490
 

UKOIL Technical Analysis

 
UKOIL, which closed the week below $ 80 with a sharp appreciation after the Non-Farm Employment data announced last Friday, retreats are seen after the gap opening on the first trading day of the new week. In the morning hours, 82.00 and 82.45 can be followed as resistance levels if upward movements continue for oil rising up to $ 81.46. In possible retreats, 80.75 and 79.80 can be targeted as support levels.
 
Resistances : 82.00 / 82.45 / 83.05
Supports : 80.75 / 79.80 / 78.70

Tags: Technical Analysis, Analysis, Forex

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