EUR/CHF: Consolidation at 1.15 continues

EUR/GBP

Pause maintained.

• EUR/GBP is maintained close of hourly resistance at 0.8929 (12/01/2018 high). Hourly support at 0.8687 (25/01/2018) remains distant. The technical structure suggests further shortterm sideways move.

• In the long-term, the pair has largely recovered from 2015 lows. The technical structure suggests further upside pressure. The pair is trading below its 200 DMA. Strong resistance can be found at 0.9500 (psychological level) while support remains at 0.8304 (05/12/2016 low).

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EUR/CHF

Consolidation at 1.15 continues.

• EUR/CHF is trading sideways at the 1.15 range following recent decline at 1.1448 (08/02/2018 low). Hourly resistance is at 1.1685 (26/01/2018 high) while strong resistance remains at 1.1833 (15/01/2018 high). Hourly support is given at 1.1388 (02/10 2017 low). The technical structure suggests further short-term 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 slowing QE program is likely to cause buying pressures on the euro, which should weigh in favour of the EUR/CHF. Support can be found at 1.0234 (20/04/2015 low).

 

BITCOIN (in USD)

Strong recovery.

• Bitcoin is trading above 11000, confirming its upward trend and approaching resistance at 12130 (18/01/2018 high). Strong support remains at 5605 (13/11/2017 low). The short-term technical structure suggests further upside moves.

• In the long-term, the digital currency has had an exponential growth but also presented important downturns. There is decent likelihood that the currency could stabilize between 7'000 - 12'000 in 2018. Bitcoin is trading above its 200 DMA (6'500 range).