Macroeconomic Overview
This week, we observed a 75bps rate hike on the ECB (European Central Bank) side.
The statements of the President of the European Central Bank were not very hawkish.
Risk appetite is increasing in the markets right now.
DXY (Dollar Index) is falling, Gold Bitcoin, Euro and global stock market indices are rising.
This situation may last until the next Fed meeting.
On the American side, the rise may accelerate as a result of bad economic data or lower-than-expected inflation data.
Next week, US-Eurozone inflation figures and a lot of data will be released.
When We Examine the Gold Chart in the Daily Term
I consider the pullbacks up to $1690 as a buying opportunity.
When the price corrects, a position can be taken in the buying direction.
The important points and profit points that the price will encounter while rising are 1765-1805-1875 levels.
When the price reaches these levels, it may face selling pressure.
For now, 1875 is targeted and 1685-1680 levels can be used as a stop level.
This week, we observed a 75bps rate hike on the ECB (European Central Bank) side.
The statements of the President of the European Central Bank were not very hawkish.
Risk appetite is increasing in the markets right now.
DXY (Dollar Index) is falling, Gold Bitcoin, Euro and global stock market indices are rising.
This situation may last until the next Fed meeting.
On the American side, the rise may accelerate as a result of bad economic data or lower-than-expected inflation data.
Next week, US-Eurozone inflation figures and a lot of data will be released.
When We Examine the Gold Chart in the Daily Term
I consider the pullbacks up to $1690 as a buying opportunity.
When the price corrects, a position can be taken in the buying direction.
The important points and profit points that the price will encounter while rising are 1765-1805-1875 levels.
When the price reaches these levels, it may face selling pressure.
For now, 1875 is targeted and 1685-1680 levels can be used as a stop level.
