18.02.2020 Market Analysis Forex

20.02.2020 Market Analysis Forex USDTRY On the second trading day of the week, the developments in my New York Fed Empire State manufacturing index and latest new in Idlib were tracked. On the third day of the week, the CBRT lowered its policy rate by 50 basis points from February 11.25 to 10.75 percent at its February meeting. Speaking at the AK Party VQA meeting during the day, President Recep Tayyip Erdogan's Idlib statements were followed, while the Producer Price Index in the US increased by 0.5 and 2.1 percent annually in January. US housing starts fell 3.6 percent. In the minutes of the Federal Open Market Committee meeting held on January 28-29, the statements "The current monetary policy stance will remain appropriate for a while". With the explanations and data set followed at the end of the day, it was observed that the currency continued its upward movement. When analyzed technically, it was observed that the Dollar continued to be determinant at 6.08 level. If the upward trend in the exchange rate continues with the upward purchases, the levels of 6.10, 6.12 and 6.14 are important resistance levels to follow. 6.06, 6.04 and 6.02 support levels can be followed in the downward movement of the possible sales and the downward trend in the exchange rate. [mstock id = "1597"] EURTRY On the second trading day of the week, the ZEW Economic Confidence Index was followed in Germany and the Euro Area. On the third trading day of the week, relatively weak economic data continued in the euro area, while the CBRT cut policy rates by 50 basis points from February 11.25 to 10.75 percent at its February meeting. Speaking at the AK Party VQA meeting during the day, President Recep Tayyip Erdogan's Idlib statements were followed. It was observed that the cross continued its upward movement with the developments followed at the end of the day and the increased tension in Idlib. Technically, it was observed that the cross continued to be decisive at the 6.57 level. If the upward trend continues as long as the 6.55 support level remains above, 6.59, 6.62 and 6.65 levels are the important resistance levels to follow. 6.55, 6.53 and 6.50 support levels can be followed in the downward trend in the possible sales and the exchange rate trend. [mstock id = "1528"] EURUSD On the second trading day of the week, the ZEW Economic Confidence Index was followed in Germany and the Euro Area. On the third trading day of the week, while relatively weak economic data continued in the Eurozone, the Producer Price Index in the US increased by 0.5 and 2.1 percent annually in January. US housing starts fell 3.6 percent. In the minutes of the Federal Open Market Committee meeting held on January 28-29, the statements "The current monetary policy stance will remain appropriate for a while". It was observed that the pair continued its horizontal movement with the data followed during the day. When analyzed technically, it was observed that the pair continues to be determinant at 1.0790 level. If it remains below the 1.0810 resistance level, 1.0770, 1.0750 and 1.0730 levels are important support levels to follow. In case of an upward movement of the pair, resistance levels of 1.0810, 1.0830 and 1.0860 can be followed. [mstock id = "1171"] XAUUSD On the second trading day of the week, as the coronavirus continued to increase concerns about global growth, it was observed that avoiding risk supported the demand for a safe haven in Gold. On the third trading day of the week, concerns about the virus remained close to its highest level since 2013. At the end of the day, it was followed that Ons Gold continued its upward movement despite the limited increase in US ten-year bond interest rates. Technically, it was observed that Ounce Gold continued to be decisive at the level of $ 1612. If Ons Gold continues its upward movement with increasing demand, 1620, 1628 and 1636 levels are the important resistance levels to follow. In case of a possible downward move, 1604, 1596 and 1588 support levels can be followed in the short term. [mstock id = "1605"] GBPUSD On the second trading day of the week, the unemployment rate was followed in the UK while the New York Fed Empire State manufacturing index data was followed in the USA. On the third trading day of the week, the Consumer Price Index in the UK rose 1.8 percent in January compared to the same period of the previous year. During the day, the Producer Price Index in the US increased by 0.5 and 2.1 percent annually in January. US housing starts fell 3.6 percent. In the minutes of the Federal Open Market Committee meeting held on January 28-29, the statements "The current monetary policy stance will remain appropriate for a while". With the developments followed at the end of the day, it was observed that the GBPUSD parity is continuing its downward movement. Technically, it was observed that GBP / USD continues to be determinant at 1.2920 level. As long as the downtrend in the parity continues with the sales that may come as long as it remains below the 1.2960 resistance level, 1.2880, 1.2840 and 1.2800 are important support levels to follow. 1.2960, 1.3000 and 1.3050 resistance levels should be followed in the upward movement of the potential purchases and the upward trend in the parity. [mstock id = "1603"] USDJPY On the second trading day of the week, the New York Fed Empire State manufacturing index was followed in the USA. On the third trading day of the week, while relatively weak economic data flow continued in Japan, the Producer Price Index in the US increased by 0.5 and 2.1 percent annually in January. US housing starts fell 3.6 percent. In the minutes of the Federal Open Market Committee meeting held on January 28-29, the statements "The current monetary policy stance will remain appropriate for a while". With the data announced during the day, it was observed that the USD / JPY parity continued its upward movement at the end of the day as a result of the Dollar's strong stance. Technically, it was observed that USD / JPY parity continues to be determinative at 110.90 level. If the upward trend continues as long as it remains above the 110.50 support level, the levels 111,30, 111,70 and 112,10 are important resistance levels to follow. If the possible sales and the downward trend in the parity are down, 110,50, 110,10 and 109,60 support levels can be followed. [mstock id = "1527"] CRUDE OIL On the second trading day of the week, it was observed that Petrol continued its horizontal movement with the evaluation of the incentive measures taken to balance the damage caused by the coronavirus and the economic impact of the virus. On the third trading day of the week, it was followed that the USA continued its upward movement at the end of the day with the enforcement decision against Russia's biggest oil producer and the conflicts in Libya increased the concerns about supply. Technically, it was observed that Crude Oil continued to be decisive at $ 53.50. 53,10, 54,40 and 55,00 are important resistance levels that should be followed as long as the upward trend in Crude Oil continues, as long as it remains above the 53,10 support level. 53.10, 52.70 and 51.20 support levels should be followed in the downward movement of the trend with possible sales. [mstock id = "1600"] 1tr XAGUSD On the second trading day of the week, coronavirus continued to increase concerns about global growth, thereby promoting the safe-haven demand for risk aversion. On the third trading day of the week, while worries about the virus continued, similar to Gold, it was followed that Silver continued its upward movement at the end of the day with the decrease in risk appetite and the demand for safe harbor. Technically, it was observed that Silver continued to be decisive at $ 18.40 level. 18.55, 18.70 and 18.90 are important resistance levels to follow if the upward trend continues with the purchases that may come as long as the support level remains above 18.20. 18,20, 18,00 and 17,80 support levels should be followed in the downward movement of the trend in Silver with possible sales.