What Happened?
• US President Trump announced that his meeting with European leaders went very well and that he has begun preparations for the trilateral summit, which he will also attend, where Russian President Putin and Ukrainian President Zelenskyy will meet.
• Trump: (Russia – Ukraine) I ended six wars in six months, and I didn't establish a ceasefire in any of them. I don't think a ceasefire is necessary. We want a lasting peace. A ceasefire could put one side at a strategic disadvantage.
• German Chancellor Merz announced that the summit where Zelenskiy and Putin will meet will be held in 2 weeks.
• US Secretary of State Rubio stated that they are working on providing security guarantees to Ukraine.
• Zelenskiy: We welcome the US signal of support for security guarantees.
• NATO Secretary General Rutte: We are currently at an impasse with Putin.
• S&P affirmed the US long-term credit rating at AA+.
• UBS announced that it increased its 2026 gold price target to $3,600 per ounce due to ongoing US macroeconomic risks and strong investment demand.

EURUSD
Having ended last week with a return of approximately 1 percent, the pair started the new week on a sell-off note. Having started the new day at 1.166, the EUR/USD retreated to 1.163 in the following trading hours. Europe, which previously grappled with the additional tariff crisis with the US, is now facing the Russia-Ukraine crisis. Russia, which had previously failed to respond to negotiation and peace efforts of various countries, has recently sat at the negotiating table under the leadership of the US. The first meeting between the US and Russia was held on Friday of last week. No statements regarding peace were made as a result of the meeting. Immediately following this meeting, US President Donald Trump met with the President of Ukraine. The media coverage of the meeting gave positive signals. US President Donald Trump promised security for Ukraine. The next meeting could appear as a highly important news stream for both global markets and Europe. Geopolitical risks and economic data flow will be closely monitored. Technically; The levels 1.1686 – 1.1732 – 1.1775 can be followed as resistance points, and the levels 1.1627 – 1.1588 – 1.1529 can be followed as support points.

Resistance 1– 1.1686
Resistance 2– 1.1732
Resistance 3– 1.1775
Support 1– 1.1627
Support 2– 1.1588
Support 3– 1.1529

OIL
Following the initial talks between Russia and the US, US President Donald Trump held talks yesterday with several European leaders, particularly Zelensky. A possible peace could be achieved, and the easing or reduction of the sanctions currently imposed on Russia could lead to a loss of value in the oil sector. However, according to press reports, the EU's general stance is that even if peace is achieved, they want a peace process that will prevent Russia's invasive advance. Assuming these talks are held by three main actors: Russia, Ukraine, and Europe, the process could be prolonged unless major concessions are made to each other. On the other hand, the US, which holds a leading position among these actors, previously secured the US aid to Ukraine during the war, in exchange for the acquisition of Ukraine's valuable minerals fields.
He requested that US companies operate the business, and the US granted this request. While it appears to be a stalemate, various concessions from the countries could bring peace. Oil prices, however, could be driven by the easing or removal of sanctions against Russia, rather than peace. Technically, the resistance levels for Crude are 63.09, 64.26, and 65.52, while support levels are 61.55, 60.21, and 58.96.

Resistance 1–63.09
Resistance 2–64.26
Resistance 3–65.52
Support 1–61.55
Support 2–60.21
Support 3- 58.96

Gold
Gold, which started the new trading day at 3334 levels, continued its upward trend in the later trading hours and tested the $3341 level. The economic and geopolitical concerns in global markets since the beginning of the year had caused significant gains in gold's value. The safe haven gold, which had previously tested its peak levels four times, could not break that range and retreated somewhat due to the selling pressure. Recently, it has continued to maintain its volatile trend. The two important agenda items that are still keeping the gold side alive are the Russia-Ukraine tension and the expectation of a Fed interest rate cut. President Donald Trump, who drew attention with his impulsive decisions in his previous term, continued to make the safe-haven gold side more attractive by signing unpredictable decisions in the new term. Following the Russia-US negotiations closely followed by global markets, US President Donald Trump stated that a security guarantee could be given for Ukraine yesterday during his meeting with Ukrainian President Zelenskyy and seven European leaders. Geopolitical risks and economic data flow will be closely monitored. Technically; The levels 3350 – 3360 – 3370 can be followed as resistance points, and the levels 3325 – 3310 – 3295 can be followed as support points.

Resistance 1– 3350
Resistance 2– 3360
Resistance 3 – 3370
Support 1–3325
Support 2–3310
Support 3–3295

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