ALB Limited 27.05.2024

Eyes on US Growth Data in Global Markets

XAUUSD - Gold Technical Analysis

Ounce Gold, which reached an all-time high price of $ 2449 last week, completed the week at $ 2333 with the strengthening of expectations that the Fed will not cut the policy rate for longer than expected in the FOMC meeting minutes. As a matter of fact, the probability of the Fed's interest rate cut in September fell from 65 percent to 50 percent in the markets. Despite the decline last week, the fact that the main support level of $ 2300 has not been passed downwards can be considered as an indication that the strong outlook continues in the precious metal. For Ons Gold, which started the first trading day of the week with a buying course, $ 2355 and $ 2370 can be followed as resistance levels. In possible withdrawals, $ 2320 and $ 2300 can be followed as support levels.

Resistances: 2355 / 2370 / 2380
Supports: 2320 / 2300 / 2290
 

XAGUSD Technical Analysis

Ons Silver, which saw the highest level of the last 11 years with the level of $ 32.50 last week, was subjected to sales pressure during the week and the precious metal closed the week at $ 30.33, losing value. Similar to Ons Gold, $ 30 can be monitored as a critical threshold for Ons Silver, which is negatively affected by the postponement of interest rate cut expectations. If the upward movements continue in the precious metal, which started the first trading day of the new week with a buying trend, 30.95 and 31.15 can be followed as resistance levels in the short term. In case of retracements, 30.60 and 30.35 can be followed as support levels.

Resistances: 30.95 / 31.15 / 31.30
Supports: 30.60 / 30.35 / 30.00
 

EUR/USD Technical Analysis

The pair, which continued its decline with ECB President Lagarde signalling that interest rate cuts will start in June and the news that interest rate cut expectations on the US side are increasingly postponed, retreated to 1.0804 last week, but showed a recovery trend and closed the week at 1.0846. For the EUR / USD parity, which has been moving within the 1.08 - 1.09 band for a while, the 1.08 level is monitored as a critical support. For the pair, which started the first trading day of the new week with a sellers' course, 1.0840 and 1.0820 can be followed as support levels. In upward movements, 1.0860 and 1.0880 can be targeted as resistance levels.

Resistances:  1.0860 / 1.0880 / 1.0900
Supports:  1.0840 / 1.0820 / 1.0800
 

NAS100 Technical Analysis

The futures index contract, which renewed its records last week, saw new historical highs with 19020 levels. The contract, which was subjected to selling pressure from this level, closed the week at 18870. On the first trading day of the new week, the early closing in the US markets due to Memorial Day may be decisive in pricing movements. In the contract, which started the first trading day of the week with a sellers' course, 18800 and 18630 can be monitored as support levels. In upward movements, 18925 and 19020 can be targeted as resistance levels.

Resistances: 18925 / 19020 / 19150
Supports: 18800 / 18630 / 18540
 

UKOIL Technical Analysis

UKOIL, which has been declining for a while on the axis of fundamental reasons such as the disappearance of geopolitical risks and the postponement of interest rate cuts on the US side, continues its weak course. Continuing to be pressured below its 200-day exponential average, black gold completed last week with a loss of value. UKOIL, which followed a buying course on the first trading day of the new week, continues pricing movements at $ 82 levels. If upward movements continue in UKOIL, 82.50 and 82.90 can be followed as resistance levels. In case of withdrawals, 82.00 and 81.65 can be targeted as support levels.

Resistances: 82.50 / 82.90 / 83.10
Supports: 82.00 / 81.65 / 81.30

Tags: Technical Analysis, Analysis, Forex

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