KQMarkets

KQMarkets

We changed our view from long to neutral prior to the US election a period which saw the EURUSD drop as low as 1.16. However, we feel the currency pair will now continue it's upward momentum due to uncertainty surrounding US stimulus as it looks to rise above key resistance above 1.18.

KQMarkets

We still hold a neutral view on AUDUSD as after the surge in the currency pair following the US election prices have stabilized over the past few days. Therefore we will await further price action with a target of support at 0.71 before taking a directional view as we await the US inflation data release later today.

KQMarkets

The Dax exploded higher up around 15% on the back of the US election and Pfizer's announcement of a coronavirus. However, despite increased upside potential with the index having consolidated above key support at 13,070 we hold a neutral view as we expect a pullback before the Dax continues it's upward trajectory.

KQMarkets

As indicated in our previous analysis Bitcoin's performance has increasingly decoupled from the stock market which could explain it's pullback yesterday as stocks exploded higher on Pfizer's announcement of a successful coronavirus vaccine. Additionally, a pullback was due given the cryptocurrency has risen nearly 50% over the past month so we expect further...

KQMarkets

We had changed our view on Gold to neutral from short after the precious metal had started to gather upward momentum after it had dropped having formed a downward triangle pattern. However, today's announcement on a breakthrough in the search for a vaccine and the subsequent rally in stocks has led to Gold falling sharply today so we now expect prices to keep...

KQMarkets

Silver has surged pre-election on the back of a sharp drop in the US dollar across the board and as a result the precious metal has lost it's downward momentum. Consequently we change our view to neutral despite Silver's further upside potential as additional stimulus is anticipated if, as now very strongly expected, Biden wins the election.

KQMarkets

We have changed our view from short to neutral as the US dollar has surged across the board as additional stimulus is expected if Biden wins the election. This is despite a dovish RBA which cut the RBA cash rate to a record low of 0.10% on Tuesday as expected. Therefore we would not change our view to neutral as we await further price action in particular if the...

KQMarkets

Despite the increased volatility due to the US election we hold our short view below key resistance at 105.4. If the currency pair consolidates above this level we would change our view to neutral in particular as await the passing of the US stimulus package.

KQMarkets

EURUSD has dropped in the past few trading sessions on the back of the ECB last week indicating there will be additional stimulus in light of the worsening of the coronavirus situation across Europe. However, despite the currency pair still being above long term support above 1.16 we have neutral view as we await significant volatility and price action following...

KQMarkets

Gold has continued to fall despite a drop in equities and the 2nd wave of the coronavirus due a strong US dollar and the markets still awaiting a stimulus deal. Therefore we hold our neutral view as we await further price action, in particular with increased volatility in the run up to the US election, which could see prices fall towards support at $1826.

KQMarkets

Silver has renewed it's downward momentum in the past few days having fallen on the back of a strengthening US dollar despite a pullback in equities due to the second wave of the coronavirus. Therefore we have changed our view from neutral to short and we anticipate the precious metal to challenge support at around $21 in the coming trading sessions.

KQMarkets

As indicated on our previous Dax analysis as the index consolidated below 13,000 on fears of a 2nd wave of the coronavirus it has since dropped rapidly below key support at 12,000. Therefore we hold our short view as we expect further downside below this level in the coming trading sessions in particular given the increased uncertainty due to the US election on...

KQMarkets

Bitcoin has continued it's strong upward momentum and has risen above YTD highs mainly on the back of we believe Paypal announcing that it will enable the introduction of the cryptocurrency onto its platform. Therefore we hold our long view on Bitcoin and see prices rising above resistance at $14,000 over the next few trading sessions. Interestingly Bitcoin has...

KQMarkets

We still see AUDUSD moving lower and if the currency pair were to consolidate below key support at 0.71 this could lead to increased downward momentum. We await US durable good orders and consumer confidence data releases tomorrow in case of any resultant price action. However, we believe the major catalyst for AUDUSD would be the upcoming RBA rate cut and US...

KQMarkets

We still hold a short view on USDJPY after it broke through key support at 105.4 and we now see the currency pair challenging multi month lows before 104. The continued impact of the coronavirus as well as the recent pullback equities could put further downward pressure on USDJPY.

KQMarkets

EURUSD has consolidated above key resistance at 1.18195 and we therefore take a long view once again as we expect the currency pair to continue it's uptrend from March lows. There is still a significant of uncertainty regarding the US stimulus which could lead to significant price action as we await Euro and German PMI tomorrow.

KQMarkets

We still hold a neutral view on gold as there hasn't been too much price action since our last analysis and we would wait for the precious metal to consolidate above $1928 before forming a long view. Gold has been gaining upward momentum over the past few trading sessions due to dollar weakness and hopes of US stimulus so we still see long term upside potential...

KQMarkets

As indicated in our previous analysis due to Silver losing downward momentum having broken the base of the descending triangle we have changed our view to neutral. Silver has rallied over the past few trading sessions on hopes of US stimulus and the worsening of the coronavirus situation as well as uncertainty surrounding the US election.