KQMarkets

KQMarkets

We see Bitcoin moving lower as price breached the base of the descending formation triangle of $9422. We now can expect the cryptocurrency to keep dropping towards the support level at $6655 if it doesn't rise back above the resistance level at $8655.

KQMarkets

We still see WTI Crude Oil moving higher due to tensions in the middle east despite a dip recently on the back of poor economic data and heightened tensions in the trade war between the US and China. However, we would not want the market to fall below the $55.593 support level with a view towards prices rising above the $59.839 resistance level .

KQMarkets

We still see AUDUSD moving lower as we await Lowe's speech tomorrow due to fears that trade talks are not progressing favourably between the US and China. Additionally, continued concern over the Australian economy and division amongst the FED on rates being cut by 25bps last Wednesday would put further pressure on the currency pair which failed to consolidate...

KQMarkets

We still see USDJPY moving higher despite a drop off as the currency pair failed to break through the 108.5 resistance level on the back off a drop in the stock market on Friday. Additionally, despite the FED being divided on whether rates should have been cut by 25bps last Wednesday there were indications that the FED would re-introduce QE by expanding the...

KQMarkets

We still see EURUSD moving lower despite the FED indicating that QE may be re-introduced in the form of expanding the balance sheet due to the continued weakness of the Eurozone economy. Today EUR PMI was weaker across the board in particular German Composite PMI came in at 41.9 vs 51.5 forecast. We therefore maintain our short view and see the currency pair...

KQMarkets

Despite WTI Crude Oil dropping back below $60 after the Saudi attacks saw the market jump to $63.3 we still see significant upside potential due to further unrest in the Middle East. However, we would want to see WTI Crude Oil move above the $59.839 resistance level before confirming the upward trajectory of the market.

KQMarkets

We still see the Dax moving higher after the ECB despite not all the governors agreeing that moving forward with more QE is the solution to the Eurozone's economic struggles. This is due to reduced tensions in the US/China trade war and the dovishness of global central banks with even the FED on Wednesday indicating it will re-introduce QE. Therefore we maintain...

KQMarkets

We still see Bitcoin in a descending triangle pattern and therefore maintain our neutral view. We are now looking for price action above $11030 or below $9422 to determine the potential direction of the market.

KQMarkets

We see Silver moving lower on the back of a more Dovish than expected Fed tonight which was divided in cutting rates and indicated that there would be no further rate cuts this year. Therefore we see further downside despite stocks dropping and Silver falling towards the support level at $17.39.

KQMarkets

We see Gold moving lower on the back of a more Dovish than expected Fed tonight which was divided in cutting rates and indicated that there would be no further rate cuts this year. Therefore we see further downside despite stocks dropping and Gold falling towards the support level at $1429.

KQMarkets

USDJPY has continued it's breakout from it's bullish wedge formation and we see prices moving higher if they consolidate at the resistance level at at 108.3. The currency pair has kept rising despite the saudi oil attacks so we are now looking to the FED as well as the Bank of Japan's minutes and rate decisions to determine further price action.

KQMarkets

We still see AUDUSD moving lower as long as it is below the key 0.7 psychological level and the currency pair has fallen on the back of concerns over Australian consumer spending. AUDUSD has dropped below the support level at 0.686 and we now believe there could be further downside towards 0.67 on the back of fears over the global economy.

KQMarkets

EURUSD rose last Thursday following the ECB meeting as the governors were not in agreement that moving forward with more QE is the solution to the Eurozone's economic struggles. However, the currency pair failed to break the key resistance level at 1.112 and has since been dropping helped by stronger than expected US retail sales which came through at 0.4% vs 0.2%...

KQMarkets

We still have a neutral view on Bitcoin as we see it in a descending triangle pattern and will wait for any significant price action in either direction before altering our view. Therefore we are waiting for at this stage for a breakout and consolidation above $11179 or below $9422.

KQMarkets

We see Silver moving lower if it doesn't consolidate and move higher from the $18.2 support level having dropped significantly over the past few days. Easing tensions in the US/China trade war and dovish central banks as well as a recovery in the stock market have led to fall in demand for safe haven assets such as Silver.

KQMarkets

We still see the Dax moving higher due to the ECB introducing additional QE as well as a rate cut which could act as a catalyst for the Dax jumping 10 per cent towards all time highs in the coming months. However, in the short term we would want to see the index move above the 12396 resistance level but if the ECB is less dovish than expected tomorow the Dax could...

KQMarkets

We still see USD/JPY moving higher as it continues it's upward momentum and after consolidating above 107 we now believe it can move towards the 108.3 resistance level. This we feel is due to the recovery in global equity markets from the August lows and easing of tensions in the US/China trade war. However, we anticipate downside risks if the ECB are less dovish...

KQMarkets

Gold has lost it's upward momentum we believe due to easing tensions in the US/China trade war and subsequent recovery in the stock market. We feel that as Gold didn't consolidate at $1533 and dropped below $1495 it could now drop rapidly towards $1400. However, we will be expecting some significant price action and volatility following some key US data at the end...