Dollar Gains Strength from Rising Yields Amid Middle East Tensions and Trade Wars

GOOGL shares have dropped 9.77% in the last 24 hours to $317.65, with the RSI entering oversold territory at 20.67. The MACD stands at -9.37, below the signal line and in negative territory, indicating weak short-term momentum. The stock is trading well below its 20-day SMA ($337.48) and 50-day SMA ($350.24), signaling a breakdown in the technical structure. News headlines point to a strengthening dollar and rising geopolitical risks, which have dampened risk appetite and may continue to pressure tech stocks. While the oversold condition could trigger short-term bargain buying, the overall downtrend suggests further downside risk.

The DXY is technically positioned with a slight upward bias in neutral territory, as the RSI stands at 59. The MACD is hovering near its signal line. The price has managed to stay above the 20- and 50-day moving averages. News headlines indicate that the dollar is supported by safe-haven demand due to geopolitical risks and trade wars. Short-term upside potential exists, but a strong breakout is not expected given the weak momentum.

USDTRY is trading at 47.32, maintaining its short-term upward trend. Although the RSI is at 57.6, indicating a neutral zone, the MACD remains above the signal line and in positive territory, suggesting upward momentum. The price is trading above both the 20-day and 50-day moving averages, providing a technically supportive outlook. The headline news, which highlights the dollar gaining strength from global risks, could increase upward pressure on USDTRY. However, the pace of the rise may be limited, and the 47.40-47.50 resistance zone could be tested.

The strengthening dollar could weigh on gold prices. GLD's RSI has fallen to 43.45, below the neutral zone, and is trading below the MACD signal line, indicating short-term weakness. Although the last close at $4,042.87 is well above the 20-day SMA ($375.32), the 0.16% decline in the last 24 hours and weakening technical indicators support a bearish outlook. However, geopolitical risks such as Middle East tensions could support gold, so the bearish expectation is expressed with moderate confidence.