Macroeconomic Outlook
Hello dear friends;
We interpreted the DXY (Dollar Index) last week. On Thursday, there are very important data on the Euro and the US side.
My view on the FED and interest rate policies has not changed. If the US GDP is heavily affected by monetary tightening, we may see a softening in the interest rate of the FED. I see this situation for sure for the cash flow-dependent US economy.
The loosening of monetary tightening and the China-US tension in the Pacific may create a stimulus.
XAU/USD chart for the weekly term;
When we examine the weekly XAU/USD chart:
We talked about the 5-wave impulse wave decline earlier. We can see a corrective action with A-B-C 3-waves upwards. Recently, the price has risen above the trend resistance. Last week, the price fell sharply and we see a sharp candle close. Even if there are short rises, the price may go down to $1712-1700 levels. These levels may be suitable for purchase depending on the current situation.
Hello dear friends;
We interpreted the DXY (Dollar Index) last week. On Thursday, there are very important data on the Euro and the US side.
My view on the FED and interest rate policies has not changed. If the US GDP is heavily affected by monetary tightening, we may see a softening in the interest rate of the FED. I see this situation for sure for the cash flow-dependent US economy.
The loosening of monetary tightening and the China-US tension in the Pacific may create a stimulus.
XAU/USD chart for the weekly term;
When we examine the weekly XAU/USD chart:
We talked about the 5-wave impulse wave decline earlier. We can see a corrective action with A-B-C 3-waves upwards. Recently, the price has risen above the trend resistance. Last week, the price fell sharply and we see a sharp candle close. Even if there are short rises, the price may go down to $1712-1700 levels. These levels may be suitable for purchase depending on the current situation.
