After the yield on the benchmark 10-year Treasury note fell to critic support zone, we think that an increase in the note will lead to sales in gold prices. When we take a technical look, our first target level will be 1266. If this breaks down, it can fall to 1237 support.
Following the news that OPEC states in a meeting in Jeddah discussed to extend the global supply cut as of June, the oil prices return from the bottom of the channel and started to rise.
We expect the rise in oil prices to countinue. If the 64.59 level breaks in oil, the 66.30 resistance level can be tested.
If the US 10-year bond yield breaks the critical area of 2.42% and starts to accelerate, we expect a sharp decline to follow. Therefore, gold prices may retreat firstly to 1266 and then the 1236 support level.
We're monitoring that our critical support region in oil has not broken yet and we think a new rise will begin soon. So we expect buying transactions to increase as long as 60.00 support is not broken. We expect that oil will test gradually 64.65 and then 66.30 resistances
The level of 1.1260 is really important for the parity. If this level is broken, the upward trend may be strengthened and see buyings firstly through 1.1325 and then the 1.1450 resistance.
If the pair does not break the 1.1260 level, the target point will be 1.1000, which is the bottom point of the channel.
We see a RSI-MACD divergence in the parity on an hourly basis. At the same time, the parity is at the previous bottom level, indicating that the pricing will return from 109.70 levels. Our first target in the parity will be 110.10 resistance.
We believe that the selling tendency will continue in oil prices which saw selling pressure after President Trump's remarks last week. Oil prices, which did not break the critical resistance levels above, started to decline. Our targets in oil will be 61.85 and 60.30 respectively.
In Dax, both the channel top and the RSI-MACD divergence hint us that the selling will start soon. As long as the 12.317 resistance is not broken, our target levels down below will be 12.106 and 12.037, respectively.
We expect selling to accelerate if the triangle in the GBP/CAD parity breaks downward. Selling can occur to the line of support below that we show in the yellow. Our target level will be 1.6930 if the 0.7315 level is exceeded.
The GBP/USD parity retreated from the top of the channel last week to a critical support level of 1.2975. If the 1.2975 level breaks, we can see hard sell in the parity. Our target point will be 1.2780
The broadening formation which occurs for some time in oil, was broken upwards and started a new upward movement. As long as there is no break at 63.50 below, our target point will be 67.70 resistance.
On a daily basis, we are testing 1.0130, which is a critical point of resistance in the USD/CHF parity at the top of the rising triangle. If this point breaks, we can say that a strong rise will begin. The target point above is 1.0327.
The parity has returned to its main sales trend. The sales have resumed today after the bottom of the channel broke in the parity which has seen seen a short-term rise. In parity, our target points will be 1.1180 and then 1.1060
After the U.S. 10y bond yield rose to 2.57%, the departures from safe-haven currencies have started. In this context, we are expecting a strong uptrend to 114.40 in USD/JPY parity with breaking 112.30 resistance level.