EURUSD
Sentix investor confidence in the Eurozone continued to recover in the last three months, taking the value of 17.5 in January. Unemployment rate in the Euro Zone was announced as 6.5% in November and remained unchanged. Industrial production in Germany, Europe's largest economy, increased by 0.2% on a monthly basis in November despite high energy prices and slowing global demand. After the US non-farm payrolls announced last week, the dollar has been depreciating due to the weakening of expectations for the Fed's aggressive tightening.
Technical Analysis
| Support & Resistance | Level |
|---|---|
| Resistance 3 | 1,0815 |
| Resistance 2 | 1,0790 |
| Resistance 1 | 1,0760 |
| Support 1 | 1,0710 |
| Support 2 | 1,0690 |
| Support 3 | 1,0660 |
Daily Pivot Levels
GBPUSD
On the first trading day of the week, data flow was calm in both countries. On the US side, the employment trend index decreased to 116.31 in December, compared to the level of 117.65 announced in the previous month. While the concerns about the recession expectations increased after the average hourly earnings in the USA that fell short of the expectations and the decline in the ISM services PMI data on Friday, the decline in the dollar index moved to the new week. The dollar index hit the lowest level in the last seven months. On the other hand, the upward trend continued in the parity. There is no significant data flow in the UK today. In the USA, Fed Chairman J. Powell's speech and wholesale stocks data will be followed.
Technical Analysis
| Support & Resistance | Level |
|---|---|
| Resistance 3 | 1,2345 |
| Resistance 2 | 1,2300 |
| Resistance 1 | 1,2241 |
| Support 1 | 1,2156 |
| Support 2 | 1,2107 |
| Support 3 | 1,2000 |
Daily Pivot Levels
XAUUSD
In global markets, it is seen that the withdrawals under ounce are limited. Before the Fed meeting to be held on January 31-February 01, the US data and the speeches of Fed members are followed closely. In his speech, San Francisco Fed President M. Daly stated that it is possible for the Fed to raise interest rates by 50 basis points or 25 basis points at the FOMC meeting. There is still no serious deterioration in the labor market in the USA. US CPI data will be released on January 12 this week. The data can be expected to affect expectations about the Fed meeting. Fed Chairman Powell is expected to speak today. A reaction can be seen in the markets originating from Powell.
Technical Analysis
| Support & Resistance | Level |
|---|---|
| Resistance 3 | 1910 |
| Resistance 2 | 1897 |
| Resistance 1 | 1884 |
| Support 1 | 1861 |
| Support 2 | 1848 |
| Support 3 | 1834 |
Daily Pivot Levels
BRENT OIL
Oil prices started the new week with buyers. The opening of Oil prices are trading lightly this morning. The volatility in oil prices has accelerated in recent days. News flows in China continue to be influential on the course of oil prices. The increasing positive expectations for the Chinese economy can also be interpreted positively in terms of oil prices. China is supporting the rise in prices as it is the largest oil importer. Russia's export figures have been announced and it is seen that exports by sea have decreased. It's at its lowest level since October. Fed Chairman Powell's speech is seen on the calendar for today. Messages from Powell can be followed in terms of the course of the markets.
Technical Analysis
| Support & Resistance | Level |
|---|---|
| Resistance 3 | 83,14 |
| Resistance 2 | 81,75 |
| Resistance 1 | 80,38 |
| Support 1 | 78,00 |
| Support 2 | 76,50 |
| Support 3 | 75,16 |
Daily Pivot Levels
S&P500
The S&P 500 index closed yesterday at 3.893 with an increase of 0.05%. While mixed movements were observed in the US stock markets yesterday, a limited increase was seen in the S&P 500 index. The markets are in a dilemma and this can cause mixed movements. Statements and economic indicators from the Fed show that the Fed will continue to increase interest rates for a while, but will not be as aggressive as last year. On the other hand, while concerns about inflation persist, risk appetite may be adversely affected. Inflation week in the USA and inflation data on January 12 will be followed this week. You can watch Fed Chairman Powell's speech today. US futures are slightly selling this morning.
