25/04/2023 Evening Reports
*Swiss Trade Balance posted a surplus of CHF 4.53 billion (Swiss francs) in March, surpassing the expectations of CHF 3.49 billion.
*US President Joe Biden announced that he will run again in the 2024 elections.
*Broadbent of the Bank of England (BOE), “if we had seen inflation shocks coming, we would have resorted to tightening moves sooner.” Said.
*Villeroy from the European Central Bank (ECB) stated that the inflation rate will decrease to 2 percent by the end of 2024.
*The deposits of the US First Republic, one of the banks that caused concerns in the banking sector last month, decreased by 40.8% compared to March last year.
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EUR/USD
EURUSD – Selling With 1.1065 Tested A Legacy…
The parity, which went above 1.10 yesterday, tried the 1.1065 resistance once again this morning, but could not pass here and retreated with profit sales. Despite these pullbacks, it is still above 1.10. However, during the day, support will be primarily 1.0975 intermediate support and 1.0930 as the two important regions that you will follow as the main ones. The main weekly support is the trend line from 0.09550.
As long as our main intraday support zone does not leak downwards, moves towards the Euro should repeat itself. However, if 1.0930 is broken, the formation of a double top of 1.1065 could be triggered and movements in dollar terms could gain strength.
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USDJPY
USDJPY – Pushes Towards Lower Band of Short-Term Rising Wedge…
The pair, which went up to 134.75 resistance last week, failed to pass this level and retreated again, and as of today, 133.85 support is being tested. This region is also quite close to the lower band of the ascending wedge structure. Therefore, if the 133.85 support is broken, the movements in favor of the Yen may become stronger in the pair. That’s why 133.85 is important.
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XAU/USD
Ounce Gold – Insisting on the Short-Term Interim Trend Line…
The yellow metal continues to hold on to the intermediate trend line we drew on the four-hour chart, and although it is very close to this trend, prices have not dropped below it yet. We think that the 1970 level should be broken with daily candle or four hour candle closes to trigger a strong selling wave in yellow metal.
However, the 2005 level is our important intraday resistance zone in the possible attacks above. Between 2005 and 1970, we see the region as neutral for now.
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