Watchlist: Gold, Dollar and Bitcoin

Important News

  • The market celebrated the pigeon statements of Fed Chairman Powell the other day. After the announcement, the pressure of buying under the ounce increased while declining.
  • Rising Covid-19 cases in Asia and concerns over the AstraZeneca vaccine are putting pressure on market perception.
  • Today, the eyes and future statements on Biden’s infrastructure plan.
  • Upon Powell’s statements, it rose to the level of 4100 and refreshed its historical summit. On the Dow side, although the historic peak resistance was tested, it could not be exceeded.
  • On the side, there was an increase up to the level of 1758.
  • On the other hand, it started the day at the level of 92.50 and closed the day in the 92.00 region red.
  • Although it rose to 1.19260 after Powell’s announcement, today it is in the consolidation period.
  • Brexit tension continues on the side. The wave of selling continues since the price was rejected at 1.39100 resistance. Support of 1.37800 was broken and confirmed as resistance. Currently the price is bearish towards the 1.36750 support.
  • It is trading in the 1.26 region before Canada’s data to be announced today. Expectations are that it will announce an average of 100,000 new jobs.
  • Crude oil, on the other hand, is in a horizontal motion in the 60 dollar region.
  • On the crypto money side, it is priced over $ 1 again. and the consolidation resistance is tested on the side.

Technical

XAU

On the ounce gold side, the upward momentum gained strength after the statement of Fed Chairman Powell. The price started a short-term retracement wave after testing the 1758 resistance during the day. 1744 support is currently being tested. On the downside, there is a playground up to 1738 and 1733 levels. The critical region above is the 1758 resistance. This region is considered as the neckline of the double bottom formation that occurred at the 1677 bottom level in the high time period. So the break of 1758 and its affirmation as support could be the beginning of a medium term bullish wave. The target zone of the formation marks an increase up to the level of 1830. With the dollar index rejected from the resistance during the day, the buying momentum on the ounce side can be expected to rise again.

  • Resistance: 1753 – 1758 – 1778
  • Support: 1744 – 1738 – 1736


DXY

The withdrawal wave in the dollar index that has been occurring since the beginning of April continues. With the positive momentum mismatch on the 1-hour charts, the price rose from the 92.00 support to 92.250. Its price awaits resistance at 92,330 in the short term and a falling trend resistance at 92,440 above it. These two levels must be broken for the upward momentum to rise. On the downside, short-term supports are waiting to be tested at 92,230, 92,180 and 92,150. Below these levels, the last bottom support is 92,000. After a short-term rise during the day, the selling pressure is expected to increase again.

  • Resistors: 92.330 – 92.440 – 92.590
  • Supports: 92.230 – 92.180 – 92.150
BTC

In the BTCUSD charts, which have been stable during the consolidation period since it tested the $ 60,000 level in early April, the price gained a short-term upward momentum after setting a new low to the 55,000 level. In the last 8 hours, 4H-55EMA resistance was rejected from the 58.500 region resistance, but the resistance test continues. There is a possibility that the price will gain upward momentum after retracting to 57,500 in the low timeframe. On the upside, the 4H candlestick above 58,500 may give momentum to the bulls again. Historical resistance awaits above at 59,500 and 60,000 levels, respectively. On the downside, there is a playground below the 57,000 level up to 56,590 and 55,250 levels.

  • Resistors: 58.500 – 59.560
  • Supports: 57.500 – 56.590

Disclaimer: Investment information, comments and recommendations contained herein are not within the scope of investment consultancy. The investment consultancy service is offered individually, taking into account the risk and return preferences of the individuals. The content, comments and recommendations contained herein are of a general nature, which are not in any way directive. These recommendations may not be suitable for your financial situation and risk and return preferences. Therefore, making an investment decision based solely on the information contained herein may not produce results in line with your expectations. The author is not responsible for any gains or losses that may arise as a result of the investment, information, comments and recommendations contained herein.

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