10/10/2022 Evening Reports

Data on One Side, Bombs on Another...
  • The first trading day of the new week passed with the news of the bombing of Kyiv, the capital of Ukraine, and its surroundings. In retaliation for Ukraine’s bridge explosion in Crimea, Russia bombed several points in and around Kyiv in the morning. Even though wheat futures went up with a slight reaction to this development, asset prices did not give a clear reaction to this situation for now. US futures are generally slightly positive, while the Ounce Gold side hangs below the 1680 level.
  • This week, we will follow the inflation figures of Germany and China, especially the USA. However, the minutes of the last Fed meeting will be released on Wednesday evening.
  • On the domestic side, the unemployment rate announced by TURKSTAT decreased to single digits for the first time in a long time and became 9.6%.

  • FED members continue to speak. Chicago Fed President Evans stated that the United States can bring inflation down quickly without creating a recession or unemployment. He stated that the FED should go carefully and sensibly to the restrictive policy rate.

  • At 20:35 (GMT+3) in the evening, we will follow the statements of FED Member Brainard.

  • Other central bank officials who spoke were also from the ECB. ECB’s Centeno said that normalizing monetary policy is absolutely necessary and desirable. However, he noted that this should be gradual.

  • ECB’s Knot stated that he hopes the ECB will need significant moves in 2023 to reduce inflation. He said the markets are taking upside risks lightly.

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    Support Level:  907 – 875 – 844 Resistance Level: 945 – 971 – 1008

    W#

    W# – Maintains Its Rising With 21-Day Average…

    Wheat prices closed with the doji candle last Friday, after a short retreat that started from the 945 resistance last week, and managed to stay above the 21-day average. This week is starting with an upward trend. The 21-day average line is the main intraday support. If there is a daily closing below this average, it is possible for the rises to take a break for a while and the profit sales to continue. In possible reactions, we will first follow the 945 level, which is the peak of the last week, as resistance. In the continuation of the rise, we will take the Fibonacci corrections, which are also seen in the step-by-step chart, as resistance zones.

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    Support Level: 95.81-92.78-90.53 Resistance Level: 98.49-102.89-106.48

    BRENT

    BRENT – Withdrawn by Resistance at 98.49 Level…

    After the OPEC+ Countries decided to reduce oil production by 2 million barrels, effective from November, the rises that started in Brent Petroleum continued until the resistance of 98.49. There were also pullbacks with the resistance encountered at this level. In the continuation of the pullback, 95.81 and 92.78 can be viewed as support. In upward transactions and pricing above the 98.49 level, 102.89 and 106.48 may form resistance.

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    Support Level: 996-980.25-968 Resistance Level: 1008-1015.10-1023.50

    GAU/TRY

    GAU/TRY – Falling Towards 996 Support…

    With the positive employment data announced in the USA on Friday, the Dollar Index strengthened again, while the Ounce Gold decreased. With the effect of the decreases in Ounce Gold, Gr Gold TL also decreases. In the continuation of the decline, 996 and 980.25 can be viewed as support. On the upside, 1008 and 1015.10 may form resistance.

    Support Level: 1.1024-1.0839-1.0737 Resistance Level: 1.1175-1.1250-1.1295

    GBP/USD

    GBP/USD – Recovering With Support From 1.1024 Level…

    After the positive employment data in the USA, the GBPUSD parity retreated to the 1.1024 support with the expectations that the FED will continue the aggressive interest rate increase process. With the support received from this level, recovery is seen. In the continuation of the recovery, 1.1175 and 1.1250 can be viewed as resistance. In retracements and pricing below 1.1024, 1.0839 and 1.0737 can form support.

    Support Level: 19.46-19.0925-18.65 Resistance Level: 19.95-20.27-20.60

    XAG/USD

    XAG/USD Withdrawals Moved to the First Trading Day of the Week…

    The pullbacks, which started after the resistance at 21.27 in Silver, continue on the first trading day of the week. In this case, 19.46 and 19.0925 can be viewed as support. On the upside, 19.95 and 20.60 may form resistance.

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