KQMarkets

KQMarkets

We have held a short view on AUDUSD for a while but believe it is time to change our view to neutral given the massive downward move in the currency pair in the past few trading sessions. The FED has recently cut rate by 150 bps recently and even though with the continued spread of the coronavirus we can't see a rebound in AUDUSD we are awaiting further...

KQMarkets

Despite it's significant drop recently we see this as an opportunity to take a long view whilst Silver is above key support at $15.5. However, a drop below this level could see prices quickly dropping towards $14 as we await further monetary policy announcements and developments with the coronavirus crisis.

KQMarkets

Gold saw wild swings in yesterday's trading session after as FED chairman Powell announced additional stimulus to the economy. Gold had been dropping along with equity markets despite it's safe haven status until Powell's announcement therefore we maintain our long view whilst the precious metal is above long term support at $1560.

KQMarkets

We still hold a neutral view on the Dax given the current crash in the index due to the coronavirus and it's potential impact on the global economy. Unless the situation improves we the index challenging multi year lows below 8800 and we would want the index to consolidate before considering a long view.

KQMarkets

Bitcoin has dropped below key support at $8500 and therefore we are changing our view to neutral. We would aim to take a long term long view if the cryptocurrency falls towards support at around $6500 as long as it doesn't consolidate below this level.

KQMarkets

We feel there is upside potential for USD/JPY as long as the currency pair doesn't drop below key support at 104.2. However, if the impact of the coronavirus worsens we could see USDJPY dropping rapidly and even falling below the 100 psychological level.

KQMarkets

We still see EURUSD moving higher as long as it doesn't consolidate below key support at 1.13 as it has strong upward momentum since the FED emergency 50 bps rate cut. However, the currency pair could drop if the ECB cuts rates on Thursday and due to further downward pressure as a result of the severity of the impact of the coronavirus on Italy.

KQMarkets

We still see AUDUSD moving lower despite the FED emergency 50 bps rate cut due to the continued impact of the coronavirus and it's impact on China. This is despite the RBA cutting 25bps in comparison such is the reliance on China and exports for the Australian economy we expect the currency pair to target 0.64 in the coming trading sessions.

KQMarkets

We still hold a neutral view on the Dax due to the continued uncertainty surrounding the coronavirus and the potential impact on economic growth. However, with an RSI below 30 indicating the index is oversold there could be opportunities to take a long view in the coming trading sessions.

KQMarkets

Having bounced off support at around $8500 we now expect Bitcoin to have continued upward momentum and challenge the $10000 psychological level. Additionally, there could be increased demand for Bitcoin if investors start seeing the cryptocurrency as a safe haven amidst fears over the spread of the coronavirus.

KQMarkets

We still hold a short view on AUDUSD despite the emergency FED rate cut yesterday which has seen the currency pair bounce above 0.66. We would not want to see AUDUSD rise above key resistance at 0.665 as we expect further downside due to the impact on the coronavirus on China and in turn Australia.

KQMarkets

EURUSD has consolidated above resistance at 1.11 and we see continued upside potential for the currency pair due to the FED emergency 50bps rate cut yesterday due to the coronavirus. This in conjunction with the ECB indicating that it is unlikely to change monetary policy due to the coronavirus leads us to hold our long view.

KQMarkets

We still hold a neutral view on USDJPY due to the recent FED emergency 50 bps rate cut and escalating fears surrounding the spread of the coronavirus. This is particularly due to the YEN being seen as a safe haven which could lead to USDJPY consolidating heading towards multi month lows below 105.

KQMarkets

Gold failed to consolidate above $1600 as it rebounded from multi day lows below $1600 ultimately failing to consolidate below this level therefore we maintain our long view. We can see Gold reaching multi year highs once gain due the FED emergency rate cut and continued fears and uncertainty surrounding the spread of the coronavirus.

KQMarkets

We still have a neutral view on Silver and wouldn't want prices to consolidated above key support at 17.2 before being confident that there will be continued upward momentum. Silver dropped as the coronavirus situation worsened indicating that it doesn't have much appeal as a safe haven certainly compared to Gold but a greater probability of further FED rate cuts...

KQMarkets

We still hold a neutral view on the Dax despite a bounce in the index earlier today as we await further developments surrounding the coronavirus outbreak as the current sell off could see the Dax moving towards 1 year lows below 11,400. Our previous long view was based on the expectation of additional ECB stimulus but whilst the coronavirus is not under control we...

KQMarkets

We see Bitcoin moving higher as long as it doesn't consolidate above key support at $8,500 however we are concerned of it's recent drop in the wake coronavirus outbreak as the cryptocurrency can be seen as a safe haven. Therefore, if Bitcoin consolidates below $8,500 we would expect the recent downtrend to resume and see prices moving towards the next support...

KQMarkets

USDJPY has dropped below multi month support at 108.2 due to the coronavirus and we therefore have changed our view to neutral. We would want volatility to drop before taking a view as the YEN is a safe haven and the US is more likely to cut rates due to potential impact of the coronavirus on the US economy.