KQMarkets

KQMarkets

Having consolidated above key resistance at $19.2 Silver has strong upward momentum to continue rising towards multi-year highs above $20. Silver's weaker performance in comparison to Gold and the Gold/Silver ratio being relatively high has seen increased demand for Silver as it is seen as an attractive proposition for investors in this environment of low rates...

KQMarkets

Having dropped significantly in June on fears surrounding a second lock down the Dax has regained it's upward momentum as it seeks to break above long term resistance above 13000. Though no major announcements are expected, the ECB on meeting on Thursday could lead to significant price action in particular coupled with a number of US earnings releases this week.

KQMarkets

Bitcoin continues to remain relatively stable as recent price action has exhibited a low level of volatility over recent trading sessions. We still see support at around $9000 and a break above the $10000 psychological level could see the cryptocurrency regaining upward momentum.

KQMarkets

USDJPY is still range bound between support at 106.6 and resistance at 108 and has dropped today as stocks have fallen and due to continued dollar weakness. A break and consolidation above 108 could lead to further upward momentum as well as USDJPY potentially challenging YTD highs above 112.

KQMarkets

EURUSD have kept it's upward momentum as it continues it's uptrend through it hasn't been able to break through and consolidate above long term resistance at 1.136. However, the US continuing to be hardest hit by the coronavirus and encouraging European economic data could lead to the currency pair moving higher in the coming trading sessions.

KQMarkets

We still hold a short view before the RBA rate decision tomorrow whilst the currency pair hasn't consolidated below key resistance at 0.7. With the RBA unlikely to cut rates from the current 0.25% level due to Australian economy being less impacted by the coronavirus than first feared we are not expecting any significant price action.

KQMarkets

We held our long view at the beginning of June despite the pullback in Gold prices and the precious metal has since rebounded to continue it's 2020 uptrend. The continued global economic uncertain caused by the coronavirus in particular in the US which has been heavily affected leads us to believe there will be strong demand for gold as a safe haven in the coming months.

KQMarkets

We still see Silver moving higher a the precious is in a continued uptrend after consolidating at support at around $17.3. We now expect Silver to challenge resistance at around $18.2 in the coming trading sessions in particular given the current geopolitical tensions and fear surrounding a second wave of the coronavirus.

KQMarkets

We still see the Dax moving higher despite the index failing to breach long term resistance above 13,000 after it's post ECB QE fuelled surge. There are a significant downside risks in particular fears surrounding a second wave of the coronavirus and the impact that could have on the Eurozone economy. Therefore, we still hold a long view but we would not want to...

KQMarkets

We still hold a long view on Bitcoin and are encouraged by the low volatility as it is has been in between support at $9,047 and resistance $10,593 for a number of weeks. We see potential for the Bitcoin to pass through the $10,000 psychological level in the coming trading sessions as it is becoming more popular as a safe haven for investors.

KQMarkets

USDJPY has been in a downtrend in recent weeks due to the current fear of a 2nd wave of the coronavirus and the impact on the global economy of the pandemic. Therefore we still hold a neutral view and we would look for the currency pair to rebound from support at around 106.6 before taking a long view.

KQMarkets

EURUSD has surged in recent weeks on the back of US dollar weakness and on hope of Eurozone economic recovery. However, it is critical for the currency pair to continue it's upward trajectory that prices consolidate above long term resistance at 1.136.

KQMarkets

We see AUDUSD moving lower whilst it is below key resistance at around 0.7 despite the currency pair upward momentum on the back of hope of post coronavirus global economic recovery. The recent stock market pullback and potential cuts by the RBA as well ad renewed tension with China could put downward pressure on AUDUSD.

KQMarkets

The strong performance of equity markets in the past few weeks has impacted gold prices despite record levels of QE and rate cuts by global central banks. However, we still have a long view on the precious metal due to fears of a second coronavirus wave and that equities have recovered too quickly and could well give up some gains in the coming weeks. Both these...

KQMarkets

Silver has continued it's upward momentum after it consolidated above key resistance at $17.3 and we now see the precious metal challenging yearly highs in the coming weeks. We see further upside for Silver in particular due to the continued quantitative programs being implemented by central banks and the gold silver ratio still being historically relatively high.

KQMarkets

Having only dropped a couple of hundred points since it formed a double top formation the Dax has surged on the back of ECB stimulus. However, we believe it is crucial that the index consolidates at key support around 12,000 in order to make a run back up towards 13,000 otherwise recent gains could be given up on the back of the current global socio economic problems.

KQMarkets

We still have a long view on Bitcoin and are encouraged that cryptocurrency has resumed it's upward momentum despite dropping below key support at $9000. We would want to see Bitcoin challenge long term resistance at $10600 in the coming weeks.

KQMarkets

We hold a neutral view on USDJPY as despite the recent increases risk appetite there is significant US dollar weakness due to FED rate cuts and stimulus. Therefore at this stage we don't have a directional view as we await significant price action and the currency pair to breach either resistance at 108.8 or support at 106.06.