19/12/2022 Evening Reports

"ECB Will Increase Interest Rates Further"

The IFO Business World Index for December, announced today in Germany, rose from 86.3 to 88.6. In the statement made, it was stated that the probability of recession decreased after today’s data, business confidence improved in almost all sectors and 57% of the business world complained about the bottleneck in supply.

European Central Bank (ECB) Member De Guindos said in his speech today that the ECB will raise interest rates further and they do not know when it will stop. Another ECB Member Kazimir stated that inflation risks are on the upside and interest rates don’t just have to go to the restrictive zone, they may stay there longer.

Apart from these developments, while there is no other important development announced on the first trading day of the week, we will follow the interest rate decisions of the Bank of Japan (BOJ) tomorrow morning and the Central Bank of the Republic of Turkey (CBRT) on Thursday.

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    Support Level: 1068-1058-1053.20 Resistance Level: 1085.45-1092.95-1100

    GAU/TRY

    GAU/TRY It continues its course in the formation…

    Transactions in Gr Gold TL take place within the rising wedge formation that we watch daily. It can be followed as resistance at 1082.45 and 1092.95 within the formation. In pullbacks, 1068 and 1058 can form support. In case of a downward exit from the formation, transactions in favor of TL may accelerate.

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    Support Level: 79.18-77.90-76.70 Resistance Level: 79.90-81.60-82.99

    BRENT

    BRENT – 79.90 Resistance Tested 3 Times But Couldn’t Pass…

    79.90 resistance in Brent Petrol was tested 3 times during the day but could not be passed. If this level is exceeded and above, the upward momentum may increase. In this case, 81.60 and 82.99 can form resistance. In pullbacks, the rising price trend that we watch in the hourly period and 79.18 can form support.

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    Support Level: 1.0598-1.0510-1.0460 Resistance Level: 1.0640-1.0705-1.0765

    EUR/USD

    EUR/USD – Pulling Back Towards The Lower Band Of The Channel…

    European Central Bank (ECB) Member De Guindos said in his speech today that the ECB will raise interest rates further and they do not know when it will stop. The IFO Business World Index for December, announced in Germany, rose from 86.3 to 88.6. With these developments, the EURUSD parity rose to the level of 1.0657. With the sales coming from this level, the rising price that we watch in the 4-hour period is retreating towards the lower band of the channel. If we stay inside the channel, we can see rises again. In this case, 1.0640 and 1.0705 can be followed as resistance. In case of a downward exit from the channel, 1.0598 and 1.0510 can form support.

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