Yann Quelenn
Swissquote Bank Ltd
EUR/GBP
Wide-open for further downside.
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EUR/GBP was rejected from rising trendline showing an aggressive reversal. 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). Expected to go lower.
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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
Strengthening.
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EUR/CHF has broken key resistance at 1.1711 before bouncing back. Support is given at 1.1610 (27/10/2017 low). Expected to show continued bullish strengthening.
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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)
$10'000 very soon.
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Bitcoin has broken the $8000. The technical structure shows a tremendous positive shortterm momentum. Hourly support is located at 5605 (13/11/2017 low). Strong support stands very far at 2975 (22/08/2017 low). In the shortterm, 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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EUR/USD faces a minor resistance near at 1.0750
EUR/USD quickly left behind Wednesday’s small downtick and resumed its uptrend north of 1.0700 the figure, always on the back of the persistent sell-off in the US Dollar ahead of key PCE data on Friday.
Gold holds around $2,330 after dismal US data
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Bitcoin price continues to get rejected from $65K resistance as SEC delays decision on spot BTC ETF options
Bitcoin (BTC) price has markets in disarray, provoking a broader market crash as it slumped to the $62,000 range on Thursday. Meanwhile, reverberations from spot BTC exchange-traded funds (ETFs) continue to influence the market.
US economy: slower growth with stronger inflation
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