03.03.20220 Market Analysis Forex

USDTRY 03/03/2020 Market Analysis Forex Turkey in the last trading day of the past week while it pursued growth data, US personal income and Michigan Consumer Sentiment data had been followed. On the first trading day of the week, ISO Markit Manufacturing PMI in the domestic market rose to 52.4 in February, signaling the fastest recovery since February 2018.On February February, the Markit Manufacturing PMI fell to 50.7 against an expectation of 50.8, while the ISM Manufacturing PMI fell to 50.1 against an expectation of 50.4 in February. While the increasing concerns of the global markets corona virus and the effects of the increasing geopolitical risk in Syria on Turkish assets were followed, it was observed that the exchange rate movement continued at the end of the day with the announced data.   Technically, the dollar remains decisive at 6.17. In the event that the trend in the exchange rate continues with the downward movement along with the sales coming, the levels of 6,15, 6,18 and 6,21 are important support levels to follow. With possible purchases, resistance levels of 6.15, 6.13 and 6.10 can be followed in the upward movement of the trend in the exchange rate. [mstock id="1597"]   EURTRY Late last trading day of the week we follow the growth data, while Turkey, had been followed preliminary inflation data in Germany. In February February, the ISO Markit Manufacturing PMI rose to 52.4 in the first trading day of the week, marking the fastest recovery since February 2018. Meanwhile, the manufacturing PMI Index announced in the Euro Area increased from 47.9 to 49.2 in February, indicating that the slowdown momentum in the sector decreased. At the end of the day, Turkish assets remained under pressure with increased revenues in Syria, while concerns about the corona virus spreading in global markets continued and the Cross continued its upward movement for the ninth consecutive day. Technically, it was observed that the cross continued to be decisive at the 6.88 level. If the upward trend continues as long as 6.85 remains above the support level, 6.90, 6.93 and 6.96 levels are important resistance levels to follow. Support levels may be followed by 6.85, 6.82 and 6.79 support levels in order to see the downward trend in the future and possible sales. [mstock id="1528"]   EURUSD While the pre-inflation data was followed in Germany on the last trading day of last week, personal income and Michigan Consumer Confidence data were followed in the USA. The manufacturing PMI Index, announced in the Euro Zone on the first trading day of the week, rose from 47.9 to 49.2 in February, indicating that the slowdown momentum in the sector decreased.In February February, the Markit Manufacturing PMI was 50.8 against the expectation of 50.7, while the ISM Manufacturing PMI fell to 50.4 against the expectation of 50.1 in February. During the day, the concerns of the corona virus spreading in the global markets continued, along with the data announced, it was followed that the pair continued its upward movement at the end of the day, on the seventh consecutive day.   When analyzed technically, it was observed that the pair continues to be determinant at 1.1140 level. 1.1160, 1.1190 and 1.1220 levels are important resistance levels to follow if 1.1125 continues to remain above the support level. In case of downward movement of the pair, support levels of 1.1125, 1.1100 and 1.0970 can be followed. XAUUSD On the last trading day of the past week, Ons Gold's deepening losses at the end of the day were observed despite the spreading corona virus and the record decline in US ten-year bond interest rates, with concerns that the spreading corona virus would harm global growth. In the first trading day of the new week, worries about the outbreak continued in global markets, with expectations that the Fed will cut rates at its March meeting rising and a decline in US ten-year bond rates followed by Gold continuing its upward movement at the end of the day. Technically, it was observed that Ons Gold continued to be decisive at the level of $ 1600.With increasing demand, 1610, 1618 and 1626 levels are important resistance levels to follow if the ounce gold continues its upward movement. In case of a possible downward move, 1592, 1584 and 1575 support levels can be followed in the short term. GBPUSD While the relatively weak data flow continued in the UK on the last trading day last week, personal income and Michigan Consumer Confidence data were tracked in the USA. The manufacturing PMI Index, announced in the UK on the first trading day of the week, fell to 51.7 from 51.9 in February. In the USA, it was observed that Markit Manufacturing PMI dropped to 50.7 in February against the expectation of 50.8 and ISM Manufacturing PMI dropped to 50.1 against the expectation of 50.4 in February. While concerns over the corona virus spreading in global markets and fears of a no-deal Brexit continued, the GBP/USD pair continued its downward trend on its fourth day, with data following at the end of the day. Technically, it was observed that GBP / USD continues to be determinant at 1.2770 level. As long as 1.2820 is below the resistance level, sales and the downward trend in parity continue, 1.2730, 1.2690 and 1.2640 are important support levels that need to be followed. 1.2820, 1.2860 and 1.2900 resistance levels should be followed in the upward movement of the potential purchases and the upward trend in the pair. USDJPY Japan data set and BoJ descriptions were tracked on the last trading day last week, while personal income and Michigan Consumer Confidence data were tracked in the USA. The manufacturing PMI Index, announced in Japan on the first trading day of the week, fell to 47.6 from 47.8 in February. In the USA, it was observed that Markit Manufacturing PMI dropped to 50.7 in February against the expectation of 50.8 and ISM Manufacturing PMI dropped to 50.1 against the expectation of 50.4 in February. During the day, concerns about the corona virus spreading in global markets continued, while US ten-year bond yields declined and USD/JPY continued its upward movement at the end of the day.   Technically, it was observed that USD / JPY parity continues to be determinant at 108.40 level. 108.65, 108.90 and 109.10 levels are important resistance levels to follow in case the upward trend continues as long as 108.15 remains above the support level. If the possible sales and the downward trend in the parity are down, 108,15, 107,90 and 107,70 support levels can be followed.   CRUDE OIL The downward movement of Petrol was followed at the end of the day with the strengthening of the speculation that OPEC and its partners would reach an agreement to support prices, as the coronavirus, which was rapidly spreading on the last trading day of last week, would have a great impact on global economic growth. The first trading day was followed by the OPEC meeting and Russian Energy Minister Alexander Novak's statements that Russia had not received an offer from OPEC to reduce oil production by one million barrels per day. It was observed that Petrol continued its upward movement with the developments followed at the end of the day.   Technically, it was observed that Crude Oil remained determinant at $ 47.80 level. 48,20, 48,60 and 49,00 are important resistance levels that should be followed if the upward trend in crude oil continues with purchases that may occur as long as 47,40 remain above the support level. 47.40, 46.00 and 45.60 support levels should be followed in the downward movement of the trend with possible sales.   XAGUSD In the last trading day of the past week, Silver was deepening losses similar to Gold despite the concerns that the spreading corona virus would harm global growth, the statements of the World Health Organization and the record decline in US ten-year bond interest rates. In the first trading day of the new week, concerns about the outbreak continued in global markets, with expectations that the Fed would cut rates at its March meeting rising and the decline in US ten-year bond rates followed by Silver's upward movement. Technically, it was observed that Silver continued to be decisive at $ 16.90 level. As long as 16.70 remains above the support level, 17.10, 17,30 and 17,50 are important resistance levels that should be followed if the upward trend continues. 16,70, 16,50 and 16,30 support levels should be followed in the downward movement of the trend in Silver with possible sales.