All investors should pay attention to the last week of August. Nonfarm payrolls data will be released on Friday. This data will be an important data for the dollar index. There is a resistance level of $102 on the dollar index. Below is the $100 support level. It can continue its effort to balance between 100-102 dollars.
Euro-dollar parity is stable and calm. 1.10 support level worked. Our expectations regarding 1.12 and 1.1350 and 1.15 levels above continue until the end of the year. The parity-based cheapness continues. I think it's in the buyable zone at least 50% to reduce risk. There is no change in our forecast of 1.15 by the end of the year.
The ounce price of gold was traded between 1950-1972 yesterday. I said last week that the declines will not be permanent. The level that we will follow under the ounce is the 1935-1985 interval, this band remains valid. However, we can see rises above $ 2000 in August. There are 2057 dollars levels in the continuation of 2020 and 2047. I think we can see attempts above the $2000 level in August. Those who will trade on the ounce gold side should also consider that the decreases will not be permanent.
The price of silver is at $ 24.75 an ounce, and the range of $ 23.80-24.80 remains valid. If 24.80 is broken to the upside, there is the $25.20 level. It made transactions in the range of $ 24.19-24.82 yesterday. In silver, the support level of $ 23.80 remains valid.
The rise in oil prices was remarkable. It rose to the level of 85.46. It made transactions in the range of 83.90-85.46. I would personally say to myself to stay away from it due to the high pricing.
On the cryptocurrencies side, bitcoin traded in the range of $29197-29533 yesterday. I continue to wait for the resistance level of $32000 in August. It wouldn't be surprising to me if the $32000 level is tested starting tomorrow. Therefore, I personally do not think that the pressures below the $30000 level will be permanent.
The UK has an interest rate decision this week. I care about this and will follow up. Because I think it will be effective in the sterling-dollar parity. There are band gaps of 1.2760 below and 1.2960 above.
I wish you a beautiful month of August.
My opinions are not investment advice. Please do your own research.
