28/03/2023 Evening Reports

US Trade Deficit Rises...
  • Bank of England (BOE) Governor Bailey said in a statement today after growing concerns about the global banking sector that guaranteeing all bank deposits should not be the norm. .
  • In his speech, European Central Bank (ECB) Member Muller stated that headline inflation continues to cause concern, that they should still be worried about upward inflation and that there may be different opinions at the next meeting.
  • The Trade Balance in the US, which we tracked for February, came in at -91.63 billion, slightly more than the expected 91 billion level. The Trade Balance had a deficit of -91.08 billion dollars in January. The Housing Price Index, another economic data announced in the USA, decreased by 0.5% monthly and increased by 2.5% annually.
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    Support Level: 1.0800 – 1.0735 – 1.0655 Resistance Level: 1.0860 – 1.0930 – 1.1030


    EUR/USD – The Weekend Reaction Continues Today…

    The pair continues to maintain its bullish trend at the beginning of the week. However, it is far from the 1.0930 level it saw last week. We will continue to watch 1.0735 as the main support in intraday movements. Possible daily candle closings below this level may trigger the move in favor of the dollar further and bring up the uptrend line from 0.9550.

    In the last two days’ reactions, we will watch 1.0930 as the main resistance.

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    Support Level: 1945 – 1935 – 1913 Resistance Level: 1962/1970 – 1990 – 2003/2010


    XAU/USD We Watch Formation Formations and 1970 in the Short Term…

    The yellow metal showed itself with a double peak-like formation in the 2010/2003 region. The neck area of this formation corresponds to the 1935 level. There was mild backlash from 1945, after forming two hills and retreating. This reaction shows a reverse flag formation for now. If it fails to rise above the 1970 level, the possibility of a reverse flag formation may remain and the negative trend in the yellow metal may resume.

    In the continuation of the possible declines, the 1935 level will be extremely important in terms of being the neck region of the double top formation.

    In summary, as long as we remain below 1970, we can expect the continuation of the negative movement from the 2000 region. Under 1935, the 18xx region may come up again.

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    Support Level: 1.2200 – 1.2125 – 1.2050 Resistance Level: 1.2310 – 1.2390 – 1.2455


    GBP/USD 1.2310 Strongly Tested Again…

    The pair continued to be priced between 1.2310/1.2200 for about 6 working days. Today, 1.2310 resistance is struggling with slight weakening in Dollar index. Above this resistance was tested last week, but daily candle closes remained below 1.2310. If a candle closes above 1.2310, it may technically be possible to continue the movements in favor of Sterling in the pair. We will watch this.

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    Support Level: 75.10 – 71.70 – 65.70 Resistance Level: 78.00 – 83.70 – 87.15


    BRENT Reacted to 78 Resistance and We Will Watch Here…

    Oil prices have retreated rapidly in recent weeks. Brent futures price also retreated to the 71.70 level. After this rapid decline, there has been a reaction for the last two weeks. As a result of this reaction, it rose again to 78 resistance. If daily closings or weekly closings start to occur above 78, the 87 region may start to come to the fore again. For this reason, we will follow 78 carefully.

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