Peter A Rosenstreich
Swissquote Bank Ltd
EUR/GBP
Strong rejection.
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EUR/GBP was rejected a rising trendline.). Hourly support is given at a distance at 0.8733 (01/11/2017 low). Next resistance is located at 0.9014 (27/10/2017 high).
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In the long-term, the pair has largely recovered from recent lows in 2015. The technical structure suggests a growing upside momentum. The pair is trading above from its 200 DMA. Strong resistance can be found at 0.9500 (psychological level).
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EUR/CHF
Renewed upside.
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EUR/CHF has broken key resistance at 1.1711. Support is given at 1.1610 (27/10/2017 low). Expected a period of consolidation before extension of current bullish strength.
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In the longer term, the technical structure has reversed. Strong resistance is given at 1.20 (level before the unpeg). Yet, the ECB's QE programme is likely to cause persistent selling pressures on the euro, which should weigh on EUR/CHF. Supports can be found at 1.0184 (28/01/2015 low) and 1.0082 (27/01/2015 low).
BITCOIN (in USD)
Volatile.
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Bitcoin has pulled back after impressive recovery bounce. The technical structure shows a tremendous positive short-term momentum. Hourly support is located at 5605 (13/11/2017 low). Strong support stands very far at 2975 (22/08/2017 low). In the short-term, the digital currency should continue rising.
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In the long-term, the digital currency has had an exponential growth. There are decent likelihood that the asset will reach $10'000.
This report has been prepared by Swissquote Bank Ltd and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by Swissquote Bank Ltd personnel at any given time. Swissquote Bank Ltd is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.
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