- European Central Bank (ECB) Member De Guindos said in his statement on the interest rate increase process that they will continue to raise interest rates to a level that will allow inflation to return to the definition of price stability, this level will depend on future data, the development of inflation, economic situation, demand and energy prices, and will reduce inflation. He said it will begin to decline in the first half of next year, but average headline and core inflation will remain very high.
- Congressional elections will be held in the USA today. After this election, it will be clear which party will control the Congress. Currently, the Democrats have the upper hand in Congress, and US President Biden also entered and won the Democratic Party elections.
- If the numerical superiority in Congress passes to the Republicans, disagreements may arise in the economic and political policies to be implemented. It should also be noted that it is not known exactly when the election results will be announced and that volatility in the markets may increase after the results.
Open A Demo
CDO has wide range of tools, professional and friendly support for clients to achieve their financial markets trading goals. Open a live account now to enjoy this experience with virtual deposit.
EUR/USD
EUR/USD – Pair Takes A Break From Two-Day Up Rally…
On the second trading day of the week, when the US by-elections were the main focus, the EURUSD parity eased to below the 1.000 region with the sales that developed from the 1.003 region in the morning.
0.9900 and 0.9745 levels can be followed as the next support zones, in case the bullish trend observed in the European trading session continues in the US session and tends below the lowest region seen during the day. On the other hand, if the parity turns up again, the 100-day exponential moving average level, 1.0070, will be the first main resistance zone.
GBP/USD
GBP/USD – From a Three-Day High to a 55-Day Average…
Leveraging on the US Dollar’s weakness on Monday and rising to the 1.15 region, the GBPUSD pair reversed its direction on the second trading day of the week, easing towards the 1.1450 support level in the early trading hours of the European session.
In case of trend below this support zone, which also coincides with the 55-day exponential moving average, 1.1290 and 1.1153 levels stand out as the next support zones. On the other hand, if the parity turns up again, the 1.1645 band, which is the highest level seen in October, will be the first resistance zone.
![](https://cdomarkets.com/wp-content/uploads/2023/05/cdo-markets-cdo-trader-all.png)
CDO TRADER
CDO TRADER, our cutting-edge trading platform, follows the technology from the forefront with new features added continuously. Moreover, CDO TRADER is now available for Android and iOS! So it allows you to trade on the go!
XAU/USD
XAU/USD – It Stops Its Rise At The Upper Band Border Of The Descending Channel…
The attention in the global market will be on the US midterm elections today. Republicans need five seats to get a majority in the House of Representatives and one to control the Senate. The result is unlikely to be finalized by the end of the day and it may take several days before we get the final result. Ounce Gold, which paused its rising rally before the elections, decreased to 1664 levels during the day.
From a technical point of view, the upper band of the descending channel in XAUUSD has reworked as resistance. If this region cannot be broken, the selling pressure on XAUUSD may intensify again. On the other hand, if this region turns iron, 1700 and 1729 levels stand out as the next resistance zones.
USD/TRY
USD/TRY – Rising to 18.60 Resistance Zone with Purchases Developing from 100-Day Average…
While taking a break from the decline of the US Dollar index before the US elections, a slight recovery effort is striking. The USDTRY parity, on the other hand, rose to the 18.60 resistance zone with purchases that developed just above its 100-day exponential moving average during the day. If the pair turns above the 18.60 resistance zone, 18.65 and 18.74 levels can be viewed as the next resistance zones. Below, the 100-day average will continue to be followed as the first support zone.
MetaTrader 4
MT4 has user friendly interface that is providing simplicity and efficiency. The traders can perform trading strategies for different products like Forex and CFD. MetaTrader 4 has over 50 built-in indicators, also it’s the tool that predicts trends and defines the appropriate entry and exit points.
![Forex MetaTrader 4 All Img](https://cdomarkets.com/wp-content/uploads/2022/07/cdo-metatrader4.png)
Contact Us
Please, fill the form to get an assistance.