– 1.20 resistance is important
The pair settled above the 1.1950 level and the profit sales towards the 1.20 resistance are effective. Despite the strong US economic data and the acceleration of the vaccination process, the weaker economic outlook in Europe is limiting the rise in the parity.
- Support: 1,1950 – 1,1850 – 1,1760
- Resistance: 1,20 – 1,2060
Weakness may last
The positive developments on the US side and concerns about the Brexit process in the UK are suppressing the parity. Especially after the pandemic process, the comments that it seems difficult to have a full recovery in London are effective. Below 1.3750, 1.3670 is in the next support position.
- Support: 1,3670 – 1,35
- Resistance: 1,3850 – 1,40
Tends to stay below 109
With the decline in the US 10-year bond interest, the selling pressure in the parity continues. A possible weekly close below the 109 level could be the first signal of a comprehensive retreat to 108.50 and then 107 main support in the first place, one should be cautious.
- Support: 108,50 – 107
- Resistance: 109 – 110 – 111
– It would be important to overcome the 1765 resistance
While the upward movement gains momentum with the surpassing the 1750 level, it can be expected that the movement will gain momentum and continue towards the 1800 level if the 1765 resistance can be permanently overcome. In this context, 26.20 resistance over 25 will be followed in silver prices.
- Support: 1750 – 1720
- Resistance: 1800
– Expectations about energy demand are effective
Strong demand outlook, especially in China, positive price forecast revisions from major investment banks and geopolitical risks positively affect prices. For WTI prices reaching the high of the last month, 65 above 63 is the next resistance position.
- Support: 63 – 62 – 60
- Resistance: 65 – 67,50
S&P 500 – Positive outlook is maintained
In the S&P 500 index, which continues to rise by settling above 4100, profit sales are quite limited as in the week and new historical peaks can be tested at the close of the week. With more than 34 thousand DJIs and over 14 thousand Nasdaqs, the rising atmosphere in the US markets continues with strong economic data and an accelerating vaccination schedule.
- Support: 4100 – 4000
- Resistance: 4200
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