KQMarkets

KQMarkets

We are still short AUDUSD as the currency pair hits 0.65 due to the continued spread of the coronavirus and the potential subsequent impact on economic growth. Therefore we hold our short view as we expect further downside for the currency pair whilst the coronavirus crisis continues and see AUDUSD making new multi year lows once again.

KQMarkets

EURUSD has consolidated above key support at 1.09841 and we therefore see continued upward momentum for the currency pair. Additionally, the probability of FED rate cuts has increased whilst the ECB have indicated there would be no change in monetary policy due to the impact of the coronavirus providing added support EURUSD due potential dollar weakness.

KQMarkets

Silver has dropped below key support $18.2 and we therefore have changed our view to neutral despite believe there is significant upside potential for the precious metal. We believe that Silver prices have underperformed due to Gold being the preferred safe haven in the wake of the coronavirus crisis but still feel Silver due to it's volatile nature could spike...

KQMarkets

We see continued upside for Gold as global equity markets crash on the back of fears over the spread of the coronavirus. However, at this stage given recent developments we would not want to see the market drop below $1600 but we feel prices are supported by increase in probability the FED will cut rates and a subsequently weaker US dollar.

KQMarkets

Fear surrounding the coronavirus has led to massive sell off the in the Dax index and prices have fallen below key support at 13173. We therefore have had to change our view to neutral despite us believing there is upside potential for the Dax due to the ECBs monetary policy but we would look to change our view to long if prices fall towards support at around $12,500.

KQMarkets

We still see Bitcoin moving lower towards support at around $8500 and are encouraged that the cryptocurrency hasn't risen on the back of the sell off in equities as it can be seen as some form of safe haven. Therefore we will hold our short view as the market develops and will not go long until Bitcoin has consolidated above the $10,000 psychological level.

KQMarkets

We still see USDJPY moving higher despite the currency pair failing to consolidate above key resistance at 112. We are encouraged that USDJPY has maintained strong upward momentum as the coronavirus spreads despite the Yen being viewed as a safe haven.

KQMarkets

We believe EURUSD has upside potential after it bounced from key support 1.078 despite the fears of the impact of the coronavirus on Italy. Therefore, we will await the release of German GDP and US CPI tomorrow for any significant price action.

KQMarkets

We are still short AUDUSD and we see the currency pair now consolidating below 0.66 due to the continued spread of the coronavirus. This is due to China being Australia's trading partner and a significant slowdown in the Chinese economy would further impact the Australia economy increasing the probability of the RBA cutting rates.

KQMarkets

We still see the Dax moving higher and surpassing all time highs reaching our target level of $14,000 despite another pullback yesterday due to the increased spread of the coronavirus. We are encouraged that the index has rebounded from session lows below 13,600 but are weary of sharp drop towards long term support at 13,173 if there is a sell off due to...

KQMarkets

We still see Bitcoin moving lower towards support at $8500 whilst it remains below the key $10,000 psychological level. We are particularly encouraged in our view as despite a drop in equity markets and the golden cross which have been seen as catalyst in the past to higher prices the cryptocurrency has remained lower in recent trading sessions.

KQMarkets

We still see Gold moving higher and believe it has strong upward momentum having risen above $1600 on the back of continued fears surrounding the spread of the coronavirus. Additionally with central banks likely to cut rates further this year we see significant upside potential for the precious metal as it is popular safe haven for investors.

KQMarkets

Silver has surged over the past few trading sessions on continued fears surrounding the spread of the coronavirus and the subsequent potential impact on the global economy. This has led to Silver rising above key resistance at $18.2 and we now see the precious metal moving higher which could lead it to challenge multi year highs above $20.

KQMarkets

USDJPY has reached our near term target at 110.4 and we now are looking for the currency pair to continue it's upward momentum and consolidate above this level and reach multi month highs towards 112. However, we will await the FOMC minutes as well as US data Friday in particular US CPI for any significant price action.

KQMarkets

We still hold a neutral view on EURUSD ahead of the FOMC minutes as it is not expected that there will be any major indications of future FED monetary policy. Therefore we will look towards Eurozone data on Friday in particular Eurozone CPI as the weakness of the Eurozone economy in comparison to the US economy appears to be the main driver behind the continued...

KQMarkets

We still see AUDUSD moving lower ahead of the FOMC minutes despite Powell potentially giving more information on the FED tapering it's repo operations to reduce the growth of the balance sheet. This is because of the continued impact of the coronavirus on China which we believe could put additional pressure on the currency pair and drop below support at 0.666.

KQMarkets

We still see the Dax reaching our target level of 14000 despite the pullback in the index on the back fears surrounding the impact of the coronavirus and EUR Zew Survey Expectations coming in at 8.7 vs 22 forecast. This is because we believe the ECB may be even more aggressive in there monetary policy to boost the Eurozone economy if they believe it will be...

KQMarkets

We see Bitcoin moving lower after it consolidated below the key psychological $10000 level despite our view that there is significant long term upside potential. However, whilst Bitcoin is below $10,000 we see it dropping back towards support at $8,500 but it could rebound if equities continue pulling back as the cryptocurrency is seen as some form of safe haven.