Yann Quelenn
Swissquote Bank Ltd
EUR/GBP
Short-term weakness.
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EUR/GBP is very volatile. The pair is consolidating lower. Hourly support is given at a distance at 0.8742 (16/06/2017 low). Downside risks are important.
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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
Very strong bullish momentum.
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EUR/CHF is still trading above psychological level at 1.1000 and the pair is heading sharply higher. s. Hourly support is located at a distance at 1.0984 (13/07/2017 low). Road is wide-open for further strengthening.
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In the longer term, the technical structure is mixed. Resistance can be found at 1.1200 (04/02/2015 high). 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)
Consolidating around $2500.
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Bitcoin's volatility has declined. Strong resistance can be found at 3000 (12/06/2017 high) and hourly support lies at 2403 (26/07/2017 low). Further retracement are expected.
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In the long-term, the digital currency has had an exponential growth. There are decent likelihood that the asset will consolidate above $1500. Long-term support is given at $1464 (04/05/2017 low).
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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