Market Notes


After Fed meeting minutes and indicated gradual rate hikes, Gold price increased yesterday. The yellow metal is now trading just above the 1255 key support level. As long as the price sustains above 1255, the positive view may gain momentum. At this point, we will follow 1273 and 1286 as resistan...

25 May 17 (Thu)

01:33 pm

Market has focused OPEC meeting. U.S. Oil price swings sharply after OPEC indicates 9-month extension to output cut but keep them at the same level. The price is testing the key support level of 50.75. As long as the price sustains above that level, we think the downward move may be limited...

25 May 17 (Thu)

01:22 pm

The USDJPY pair tested the 111.90 daily resistance level but could not rise above that level. As long as the remains stable below that level on a daily basis, we expect the upward move may be limited and we will follow 110.50 and 109.75 as support level. On the other hand, if the pair goes beyond...

24 May 17 (Wed)

11:46 am

Market has focused OPEC meeting on Thursday in Vienna. Saudi Arabia, Russia push to extend the cuts another 9 months. Also, Crude oil stocks data will be announced today in U.S. and is expected a crude-stock decline of around 2.4 million barrels this week. Ahead of quite heavy news about oil, the...

24 May 17 (Wed)

10:45 am

Gold price is trading below the 1255 key resistance level. If the price sustains below that level, the taking profit action may accelerate. At this point, we will follow 1236 and 1226 as support levels. On the other hand, if the price goes beyond 1255 again, the next resistance level will be...

24 May 17 (Wed)

10:12 am

The EURUSD pair showed a taking profit action yesterday and it is trading below the 1.1220 major resistance level. If the price remains below that level on a daily basis, the pullbacks may continue and we will watch 1.1160 and 1.1111 as support levels. On the other hand, if the price goes beyond...

24 May 17 (Wed)

09:48 am

The USDCAD pair has been falling for consecutive seven days. If the pair continues to drop, we will face 1.3370 and 1.3256 as support levels. However, the 1.3370 is a significant support level and as long as the pair sustains above that level, we think the downward trend may be limited. On the ot...

23 May 17 (Tue)

05:56 pm

The GBPUSD pair is testing the 1.2985 resistance level. In the event that the price rises above 1.2985, we will face resistance levels at 1.3050 and 1.3120. On the other hand, if the pair shows a downward move, we will follow 1.2920 and 1.2860 as support levels. However, as long as the price sust...

23 May 17 (Tue)

04:06 pm

Silver price is trading just above the 17.10 key support level. As long as the price sustains above 17.10, the positive view may gain momentum. At this point, we will follow 17.30 and 17.55 as resistance levels. On the other hand, if the price drops below 17.10, the next support level will be at...

23 May 17 (Tue)

10:26 am

The USDJPY pair is trading below the 111.90 daily resistance level. As long as the remains stable below that level on a daily basis, we expect the bearish action may gain momentum and we will follow 110.50 and 109.75 as support level. On the other hand, if the pair goes beyond 111.90, the next re...

23 May 17 (Tue)

10:01 am

Gold price is trading above the 1255 key support level. As long as the price sustains above 1255, the positive view may gain momentum. At this point, we will follow 1273 and 1286 as resistance levels. Although, if the price drops below 1255, the next support level will be at 1236.  

23 May 17 (Tue)

09:28 am

Data agenda is quite heavy today in US and Eurozone. Manufacturing and Service PMI data will be the main release to be followed. Ahead of PMI Data, the EURUSD pair is testing the daily support level of 1.1220. However, as long as the price remains above that level on a daily basis, we think the b...

23 May 17 (Tue)

09:20 am

The GBPUSD pair is trading just above the 1.2985 support level. In the event that the price drops below 1.2985, the next support level will be at 1.2860. However, as long as the price sustains above 1.2860 on a daily basis, we think the positive outlook may be behind the Sterling. On the other ha...

22 May 17 (Mon)

10:14 am

Gold price is trading just below the 1255 major level. If the price sustains below that level, the taking profit action may accelerate. At this point, we will follow 1236 and 1226 as support levels. On the other hand, if the price goes beyond 1255 again, the next resistance level will be at 1273....

22 May 17 (Mon)

09:31 am

The U.S.Oil jumped last week after the Saudi Arabian and Russian energy ministers said they are in favor of extending a production-cut deal for nine months. The market will focus the OPEC meeting on May 25. If the price sustains above the 50.75 daily support level, we think the bullish view may a...

22 May 17 (Mon)

09:20 am

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