Bitcoin: Lack of follow-through

EUR/GBP

Strong downside risk.

• EUR/GBP is way into a short-term bearish momentum. As long as prices are below the resistance at 0.9046 (05/09/2017 high), the shortterm technical structure is biased to the downside. Hourly support is given at a distance at 0.8733 (01/11/2017 low).

• 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 buying pressures. 

• EUR/CHF is bouncing back higher within former uptrend channel. Support is given at 1.1610 (27/10/2017 low). Rising channel suggests further bullish momentum.

• 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)

Lack of follow-through.

• Bitcoin is now consolidating after setting-up a new all-time high for 4 consecutive days. The technical structure shows a tremendous positive short-term momentum. Hourly support can be located at 6027 (30/10/2017 low). Strong support stands very far at 2975 (22/08/2017 low). In the short-term, the digital currency should continue rising.

• In the long-term, the digital currency has had an exponential growth. There are decent likelihood that the asset will reach $10'000.