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EUR/USD

EURUSD

Weakening.

  • EUR/USD is still in a bullish momentum despite short-term decrease. Hourly resistance for a short-term bounce is given at 1.1495 (15/10/2015 low). The mid-term buying interest is still strong. Other resistance can be found at 1.1561 (26/08/2015 low). Support lies at 1.1087 (03/09/2015 low). Expected test of the resistance at 1.1561.

  • Since March 2015, the pair is improving. Key supports can be found at 1.0458 (16/03/2015 low) and 1.0000 (psychological support). The technical structure favours an eventual break higher. Strong resistance is given at 1.1871(12/01/2015).


GBP/USD

GBPUSD

Monitoring resistance at 1.5529.

  • GBP/USD remains in a range between support at 1.5078 (05/05/2015 low) and resistance at 1.5659 (18/09/2015 high). A long as prices remain in this range, there is no clear mid-term momentum. Expected test of resistance at 1.5529

  • In the longer term, the technical structure looks like a recovery as long as support given at 1.5089 stands. A full retracement of the 2013-2014 rise is expected.


USD/JPY

USDJPY

Riding channel.

  • USD/JPY has strengthened but has failed to break the higher bound implied the downside channel. Hourly support can be found at 118.07 (15/10/2015 low). Strong resistance is given at 121.75 (28/08/2015 high).

  • A long-term bullish bias is favored as long as the strong support at 115.57 (16/12/2014 low) holds. A gradual rise towards the major resistance at 135.15 (01/02/2002 high) is favored. A key support can be found at 116.18 (24/08/2015 low).


USD/CHF

USDCHF

Holding below 0.9600.

  • USD/CHF is pushing slightly higher. Hourly resistance can be found at 0.9740 (07/10/20150 low). Hourly support is given at 0.9476 (15/10/2015 low). Expected challenge of the support at 0.9746.

  • In the long-term, the pair has broken resistance at 0.9448 suggesting the end of the downtrend. This reinstates the bullish trend. Key support can be found 0.8986 (30/01/2015 low).


USD/CAD

USDCAD

Bouncing further.

  • USD/CAD's momentum is still negative as long as hourly support at 1.2832 (29/07/2015 low) holds. Hourly resistance lies at 1.3080 (13/10/2015 high).

  • In the longer term, the break of the key resistance at 1.3065 (13/03/2009 high) has indicated increasing buying pressures, which favours further medium-term strengthening. Support can be found at 1.1731 (06/01/2015 low).


AUD/USD

AUDUSD

Pausing.

  • AUD/USD's bullish momentum is fading. The very short-term technical structure is now negative. A break of the hourly resistance at 0.7382 (12/10/2015 high) is necessary to reverse the current short-term trend. Hourly support lies at 0.6893 (04/09/2015 low).

  • In the long-term, there is no sign to suggest the end of the current downtrend. Key supports stand at 0.6009 (31/10/2008 low) . A break of the key resistance at 0.8295 (15/01/2015 high) is needed to invalidate our long-term bearish view. In addition, we still note that the pair remains well below the 200-dma which confirms selling pressures.


GBP/JPY

GBPJPY

Buying interest lacks power.

  • GBP/JPY is still improving slowly. Hourly support can be found at 180.24 (04/09/2015 low). There is no clear mid-term momentum but the short-term technical structure suggests an upside momentum. Expected test of psychological resistance at 190.00.

  • In the long-term, the lack of any medium-term bearish reversal pattern favours a bullish bias. The successful test of the strong support at 175.51 (03/02/2015 low) signals persistent buying interest. Key resistances stand at 197.45 (26/09/2008 high). A major support area can be found between 169.51 (11/04/2014 low) and 167.78 (18/03/2014 low).


EUR/JPY

EURJPY

Moving sideways.

  • EUR/JPY is trading around the 38.2% Fibonacci retracement confirming the upward trend-line. Hourly resistance is located at 137.45 (17/09/2015 high) and hourly support lies at 132.23 (04/09/2015 low). Expected increase of the pair.

  • In the longer term, the break of the support at 130.15 validates a medium-term succession of lower highs and lower lows. As a result, the resistance at 149.78 (08/12/2014 high) has likely marked the end of the rise that started in July 2012. Key supports stand at 124.97 (13/06/2013 low) and 118.73 (25/02/2013 low). A key resistance can be found at 141.06 (04/06/2015 high).


EUR/GBP

EURGBP

Monitoring support at 0.7302.

  • EUR/GBP is now consolidating. Hourly resistance can be found at 0.7493 (13/10/2015 high). Hourly support can be found at 0.7302 (25/09/2015 low). The mid-term technical structure indicates a likely target of the hourly resistance at 0.7493.

  • In the long-term, prices are in an underlying declining trend. The general oversold conditions suggest a limited medium-term downside potential. A key resistance lies at 0.7592 (03/02/2015 high).


EUR/CHF

EURCHF

Moving sideways.

  • EUR/CHF is moving downward. Hourly support at 1.0823 (22/09/2015 low) has been broken but the pair has failed to hold below 1.0800. Hourly resistance can be found at 1.0982 (25/08/2015 high). Expected test of the support at 1.0783 (16/10/2015 low).

  • The EUR/CHF is digesting its 15 January sharp decline. A key resistance stands at 1.1002 (02/09/2011 low). 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).


GOLD

Gold

Trying to bounce.

  • Gold has consolidated lower but the shortterm technical structure is still positive. Hourly resistance is given at 1205 (18/06/2015 high). Hourly support can be found at 1093 (12/08/2015 low). Expected bounce on the lower bound implied by the uptrend channel.

  • In the long-term, the underlying downtrend (see declining channel) continues to favour a bearish bias. Although the key support at 1132 (07/11/2014 low) has been broken, a break of the resistance at 1223 is needed to suggest something more than a temporary rebound. A major support can be found at 1045 (05/02/2010 low).


SILVER (in USD)

Silver

Reversing.

  • Silver's bullish momentum is now fading. The pair has failed to gain enough traction to target resistance at 16.46 (18/06/2015 high). Hourly support is given at 15.40 (08/10/2015 low). Expected growing upside momentum. The pair will likely settle above the 200 DMA.

  • In the long-term, the break of the major support area between 18.64 (30/05/2014 low) and 18.22 (28/06/2013 low) confirms an underlying downtrend. The strong support at 14.66 (05/02/2010 low) has been broken and prices have then consolidated. A key resistance stands at 18.89 (16/09/2014 high).

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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