18/10/2023 Evening Reports

Inflation in the Euro Zone Met Expectations…

*In England, the consumer price index increased by 0.5% on a monthly basis and 6.7% on an annual basis. Core inflation increased by 0.5% on a monthly basis and 6.1% on an annual basis. Monthly data came as expected. In annual data, there was an increase of 0.1 points above expectations. Inflation remains high in the UK. We will follow the statements and policy decisions to be taken from the Bank of England.

*Inflation in the Eurozone did not deviate from expectations. While inflation increased by 0.3% in September, it increased by 4.3% on an annual basis. Core inflation increased by 0.2% on a monthly basis and increased by 4.5% on an annual basis. Although inflation remains high compared to the 2% target, this decline will consequently greatly increase the likelihood that the European Central Bank will keep interest rates constant at the next meeting.

*Visco from the European Central Bank stated that inflation is not yet compatible with basic price stability.

*10-year US bonds increased up to 4.88% during the day. 2-year bonds continue to trade around 5.19%.

*Increasing geopolitical risks continue to cause increases in the gold and oil markets. Brent oil rose to $93 during the day. While the ounce of gold rose to the level of 1962 $, the gram gold renewed its peak with the level of 1767 TL.

*In the early hours of the day, the dollar reached the 28 TL threshold.

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    Support:  1.0490 – 1.0450 – 1.0395 Resistance:  1.0575 – 1.0630 – 1.0695

    EURUSD

    EURUSD – Tested 1.0575 Resistance Again…

    The pair has been touching the downtrend line at 1.1265 for the last week, testing it and then pulling back. Today, this trend zone, which coincides with the 1.0575 resistance, was tested again and subsequently a profit sale occurred.

    In the coming days, we will monitor possible attacks against the 1.0575 resistance and whether it can be passed or not. If 1.0575 is exceeded, the upward trend in the parity may continue to strengthen and the resistance at 1.0915 may come to the fore.

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    Support: 1944 – 1930 – 1915 Resistance: 1977 – 2005 – 2022

    XAUUSD

    Ounce of Gold – Touched by 1960…

    The increase in the yellow metal continues as the Israel-Hamas war intensifies and there is a strong possibility of it spreading to other countries in the region. The rise, which has been continuing since the 1813 region, has reached 1960 as of today. With this rise, more than 50% of the Fibo decline of 2070/1813 was corrected. The 1977 level, which is the Fibo 61.8 correction, will be on the agenda for the continuation of possible increases.

    For levels 2000 and above, seeing daily candle closes above 1977 is a technical necessity.

     

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    Support:   89.15 – 87.60 – 84.30 Resistance: 91.40 – 93.30 – 97.60

    BRENT

    BRENT – Intraday Attacks Given Back and Retracted Below 91.40…

    Brent oil, which started the day with strong attacks and rose to 93.30, fell back below the 91.40 resistance near and after the opening of the US session. Here we will pay attention to whether it closed below or above 91.40 at the end of the day. Possible closings above 91.40 may bring us closer to 100 again.

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