Bitcoin: Volatile

Peter A Rosenstreich Swissquote Bank Ltd

EUR/GBP

Strong rejection.

EUR/GBP was rejected a rising trendline.). 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).
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 upside.

EUR/CHF has broken key resistance at 1.1711. Support is given at 1.1610 (27/10/2017 low). Expected a period of consolidation before extension of current bullish strength.
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)

Volatile.

Bitcoin has pulled back after impressive recovery bounce. The technical structure shows a tremendous positive short-term momentum. Hourly support is located at 5605 (13/11/2017 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.

Author

Peter A Rosenstreich

Swissquote Bank Ltd

Peter Rosenstreich is Swissquote Bank’s Head of Market Strategy and manages the global strategy desk; he has held various positions in several banking institutions in the United States, Europe & Asia.

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