ALB Limited 23.05.2024

Sharp Retracement in Ounce Gold After FOMC Meeting Minutes

XAUUSD - Gold Technical Analysis

Ounce Gold, which reached an all-time high price of $ 2449 on Monday, fell sharply after the FOMC meeting minutes announced yesterday. Stating that the disinflation process may take longer than expected and that the possibility of increasing interest rates is on the table if necessary caused the precious metal to retreat to $ 2374 levels. Ons Gold, which lost strength with the breaking of the main support of $ 2400, continues to decline in the morning hours today. Technically, if the downward trend continues, $ 2360 and $ 2330 can be monitored as support levels. If possible recovery trends come to the agenda, 2380 and 2390 can be followed as resistance levels.

Resistances: 2380 / 2390 / 2400
Supports : 2360 / 2330 / 2300

XAGUSD Technical Analysis

Ons Silver, which saw the highest level of the last 11 years with the level of 32.50 dollars at the beginning of the week, was subjected to sales pressure in the upward peak renewal attempt during the week. The precious metal, which rose to 32.18 yesterday, experienced a sharp retreat due to sales pressures and FOMC meeting minutes. Ons Silver, which continued its selling course in the morning hours today, showed recovery trends despite retreating to 30.20 levels. If the selling trend continues in the continuation of the day, $ 30.20 can be monitored as a critical threshold. If this level is passed downwards, 30.00 and 29.80 can be followed as support levels. In upward movements, 30.75 and 30.90 can be followed as resistance levels.

Resistances: 30.75 / 30.90 / 31.00
Supports: 30.20 / 30.00 / 29.80

EUR/USD Technical Analysis

The pair, which fell yesterday with ECB President Lagarde signalling interest rate cuts in June and the rise in the dollar index, fell to 1.0815. Despite the possibility of a downward break of the 1.08 - 1.09 band, which it has been in for a while, it is important for the EUR / USD parity, which has followed a buying course in the morning hours today, to maintain above the 1.08 level for the continuation of the upward trend. If the buying trend in the morning hours continues in the rest of the day, 1.0840 and 1.0850 can be followed as resistance levels for the pair. In case of downward movements, 1.0815 and 1.0800 can be followed as support levels.

Resistances:  1.0840 / 1.0850 / 1.0865
Supports:  1.0815 / 1.0800 / 1.0790

NAS100 Technical Analysis

The Nas100 futures index contract, which followed a favourable course yesterday with the effect of the NDVIA balance sheet announced above expectations, continues its favourable course in the morning hours today. The index contract, which renewed its historical peak accompanied by a sharp rise, has reached the limit of 19000 level. If the rise in the contract continues, 19150 and 19300 can be monitored as resistance levels, while 18890 and 18760 can be targeted as support levels in case of retracements.

Resistances: 19150 / 19300 / 19500
Supports: 18890 / 18760 / 18630

UKOIL Technical Analysis

UKOIL continues its daily losses with the effect of the possibility of an interest rate hike on the US side and the increase in crude oil stocks announced by the Energy Information Administration above expectations. UKOIL, which has been moving in a downward direction since the first trading day of the week, is also following a sellers' course in the morning hours today. If downward movements continue in UKOIL, $ 81.00 can be monitored as a critical support. If this level is passed downwards, 80.70 and 80.30 can be followed as support levels. In case of upward movements, 81.70 and 82.00 can be followed as resistance levels.

Resistances: 81.70 / 82.00 / 82.40
Supports: 81.00 / 80.70 / 80.30

Tags: Technical Analysis, Analysis, Forex

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