KQMarkets

KQMarkets

We have changed our view from neutral to long on EURUSD as it has gained upward momentum and we would look for the currency pair to consolidate above long term resistance at around 1.11 in the coming trading sessions. We expect EURUSD to continue rising due to USD weakness as we await data releases this weak including non-farm payrolls on Friday.

KQMarkets

We maintain our short view on AUDUSD despite the lack of price action in recent weeks as tensions over the coronavirus between Australia and China could impact the currency pair. China is by far the largest importer of Australian commodity exports and tariffs on Australian imports could lead to downward pressure on AUDUSD towards support at 0.645.

KQMarkets

Gold continues to rise after it consolidated back above long term support above $1560 back in March on the back of FED rate cuts and the continued uncertainty and impact on the global economy of the coronavirus. Additionally, it is the safe haven of choice for investors and we expect it to also rise further due to the renewed trade war tensions between the US and China.

KQMarkets

We still hold our long Silver view as the precious metal continues to rise on the back of FED rate cuts and the continued uncertainty and impact on the economy of the coronavirus. We would now want to see Silver consolidate above key resistance at around 17.3 before challenging last year's highs above $19.

KQMarkets

We have changed our view from long to short as the Dax twice failed to consolidate above key resistance towards 11300 and formed a double top. This is a bearish signal and we feel the renewed US and China trade tensions in conjunction with the continued impact of the coronavirus on the global economy would weight heavily on the index in the coming trading sessions.

KQMarkets

Bitcoin has finally risen above resistance at around $9000 and it now edging towards the psychological $10000. This is despite the recent Bitcoin rally fading after the golden cross which saw the 50 day MA move above the 200 day MA as we believe that the cryptocurrency can be seen as a safe haven in the current market environment.

KQMarkets

USDJPY has consolidated below above key support at 107.6 and therefore we have changed our view to neutral unless the currency pair rises back above this level. However, with the continued uncertainty surrounding the coronavirus and seeing as the YEN is a safe haven coupled with aggressive FED stimulus measures we feel there is significant downward pressure on the...

KQMarkets

We maintain a neutral view on EURUSD as there has not been much volatility in the currency pair over the past few trading sessions. With the Eurozone and the US economy struggling due to the impact of the coronavirus we are not taking a directional view at this stage but this could change if the EUR rebounds from the support level at around 1.08.

KQMarkets

We are taking short view on AUDUSD as long as the currency pair doesn't break through key resistance at 0.667. This is despite aggressive FED rate cuts and expectations of potential negative FED rates in the coming months. We feel that the Chinese economy and hence demand for Australian commodity exports will be severely impacted by the coronavirus in particular...

KQMarkets

We have held our long Silver view despite the precious metal not having strong upward momentum but are encouraged prices have consolidated above key resistance at around $15.2. We see further upside for Silver given the continued uncertainty surrounding the coronavirus and it's potential industrial demand as economies recover.

KQMarkets

We still have a long view on Gold despite the precious metal struggling to continue it's upward momentum above multi year highs above $1700. This is due to the continued uncertainty surrounding the virus and global equity markets even with their rebound as a result of QE and rate cuts. Our long term target is still for Gold to surpass all time highs and challenge...

KQMarkets

Despite the recent pullback as the Dax crept over 11000 due to dire economic data and renewed tensions between the US and China we still feel there is significant upside potential for the index. However, at this stage we would want the Dax to consolidate above key resistance level at around 11,300 to confirm the upward momentum as we await economic data this week...

KQMarkets

We still see Bitcoin moving higher as the cryptocurrency has risen 2000 points from our last analysis towards resistance at around 9000. Bitcoin failed to consolidate above this resistance level but we expect it to do so in the coming days and once again challenge the psychological $10000 level. We believe the recent price surge we could be due to the upcoming...

KQMarkets

We still hold a neutral view on EURUSD as we await the FED meeting tonight as well as the ECB meeting tomorrow that would give indications of future monetary policy. Having been on a downtrend recently EURUSD has moved above resistance at 1.08 but we would want the currency pair to consolidate above resistance at 1.10 before considering a long view.

KQMarkets

We still have a neutral view on AUDUSD which we have held since the currency pair passed through resistance at 0.62. This is despite demand for commodities being impacted due to the coronavirus which would downward pressure on AUDUSD. We feel that at this stage Australia has been less impacted by the coronavirus than other nations in particular the United States.

KQMarkets

We still have a long view on USDJPY as the currency pair has not consolidated below key support at 107.6. However, we are weary that the turmoil in the oil markets could continue to spread to equities and lead to a flight to safety causing the YEN to appreciate in the near term.

KQMarkets

We still have a long view on Silver despite the precious metal struggling to consolidate at the key support level at around $15.2. Silver has underperformed Gold recently and we see significant upside for Silver given it's volatile nature.

KQMarkets

We are still long Gold despite the precious metal pulling back from surging towards multi year highs above $1700 this week. The full impact of the coronavirus on the global will continue to be felt over the coming months and therefore we see Gold moving towards all time highs above $1800 whilst keeping long term support at $1562.