Bitcoin: Renewed buying pressures
|EUR/GBP
Heading lower.
-
EUR/GBP is trading lower. However, as long as prices remain below the resistance at 0.9176 (declining trendline), the short-term technical structure is biased to the downside. Hourly support is given at 0.9095 (11/09/2017). Resistance lies at 0.9306 (29/07/2017 high).
-
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).
Stay on top of the markets with Swissquote’s News & Analysis
EUR/CHF
Further sideways consolidation likely.
-
EUR/CHF has sharply declined near the resistance area between 1.1356 and 1.1472 Further medium-term sideways moves are favoured. Expected to show further sideways moves.
-
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)
Renewed buying pressures.
-
Bitcoin's buying interest is getting stronger again.Technical picture remain bullish as long as key support hold. Monitor the key support at 4078. Strong support lies very far at 3599 (22/08/2017 low). Key resistance can be located at 4921 (01/09/2017 high).
-
In the long-term, the digital currency has had an exponential growth. There are decent likelihood that the asset will reach $10'000.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.