ANALYSIS
NQ100 Finds Support from PPIApr 14
The Pullbacks May Continue in EURUSD
The day we left behind, it is seen that there is pressure on the pair, as the PMI data of IHS Markit & SP Global revealed that the economic activity in the Euro Area has declined. On the other hand, the dollar, which was strengthened by the possibility of a 75 basis point increase in interest rates at the critical September meeting of the FED, continues to weigh on the currencies of developed countries. In addition, non-farm employment data, which will be published today, will be closely followed in terms of parity pricing. Exceeding the market expectations of 300,000 people, excluding agriculture, may create additional pressure on the parity by strengthening the possibility that the FED will continue its aggressive tightening path. From this point of view, as long as the 1.0055 level, which is pointed by the upper border line of the channel, is defended as a resistance in the EURUSD parity, which maintains the descending channel appearance on the last trading day of the week. If the parity can be passed below the 0.9950 level with permanent closes, it can be expected that the dissolutions will continue until the 0.9900 support. On the move above the possible 1.0055 level, 1.0100 resistance can be followed.
