10/04/2023 Evening Reports
Ueda, the new head of the Bank of Japan (BOJ), said in his speech that large-scale monetary easing will continue, that negative interest rates are appropriate for now, that it is very possible to reach the sustainable price target as wage growth strengthens, and that he is aware that the global economy is slowing and further slowdown is expected. told.
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EUR/USD
EURUSD – Effects of US Non-Farm Continuing…
On the parity side, the US Non-Farm Payroll data, which came in relatively strong last week, shows the effects and moves in favor of the dollar. We are following the continuing pullback towards 1.0835. Movements in favor of the dollar below 1.0835 may gain some strength and the uptrend line from 0.9550 may come to the fore. We will follow this.
In possible reactions, the intraday intermediate resistance is 1.0888 and the main intraday resistance is 1.0930.
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GBP/USD
GBPUSD – 8-Day Average Gold and 1.2350 Support Testing…
With the movements in favor of the dollar coming to the fore again in recent days, there are also power losses on the Sterling side. In the previous days we had been watching a bullish run since the 1.1960 level, where the 8-day average was suitable for trend tracking. As of today, there has been a strong sag below the 8-day average and the 1.2350 support has been tested. If the daily close is below 8 days and/or below 1.2350, we can follow the movements in favor of the dollar until 1.2075. We will continue to monitor 1.2350 during the day.
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GAU/TRY
GAUTRY – The Drops From The 1250 Region Are Technically No Surprise…
After seeing the 1250 levels, Gram Gold had withdrawn after encountering a technical resistance here. As of the beginning of this week, the yellow metal side has regressed due to the relatively positive performance of the US Non-Farm last Friday and the gram price in TL is traded at 1235 levels.
It is not surprising to encounter resistance from the 1245 region, as this region coincides with the Fibonacci 161.8 retracement of the 1185/1088 drop from February 2-24.
However, we have been watching the rise since 1111 with an 8-day average. As of today, it tries to get support by contacting this average again. So we will be watching for a possible break here. We can see the 1222 level as the main intraday support.
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