KQMarkets

KQMarkets

We are currently long Silver and believe we that prices will continue to rise if the $17.30 resistance level is broken but we would not want the market to fall below the support level at around $15.6. Additionally, FED Minutes tomorrow and Chairman Powell's comments at Jackson Hole will likely lead to significant volatility and price action.

KQMarkets

As we believed could be possible on our last analysis Gold has pulledback from peaking to $1530 towards $1500 on the back of a stock market bounce. This has effectively happened but we are still neutral for the moment because FED Minutes tomorrow and Chairman Powell's comments at Jackson Hole will likely lead to significant volatility and price action. Therefore...

KQMarkets

As indicated on our analysis on the 16.08 we are in a descending triangle pattern as sellers are willing to go lower whilst buyers stay at the same level. Therefore we are still neutral at the moment even though Bitcoin has risen around 700 points from our previous analysis. We would want to see the market above the $11859 resistance level before changing our view...

KQMarkets

We have been short AUDUSD for a while and expect the sell off to resume at some stage in the currency pair and fall towards 0.67. AUDUSD fell from the 02.08 triple moving average crossover a clear sell signal but since then the sell off has fizzled out mainly on what we believe no new developments in the US/China trade war. Therefore we will hold our short...

KQMarkets

EURUSD has been dropping since our last analysis on the 12.08 and we are at a crucial stage if we can break the $1.10959 support level we expect further downside. However, this is a very a important stage for the currency pair as FED Minutes on Wednesday and Chairman Powell's comments at Jackson Hole will likely lead to significant volatility and price action....

KQMarkets

We have been long USD/JPY for a while and believe there could be potential for an upside breakout due to the falling wedge pattern that has developed in the currency pair in recent times. This is particularly the case if equity markets recover from the recent sell off but we would not want to see USDJPY fall below the key support level at 104.28.

KQMarkets

On our analysis yesterday we indicated that we were long Bitcoin however we are concerned that the market has not significantly bounced back after it fell below the $10,000 psychological level towards $9,500. Bitcoin is now struggling to move towards the $10277 resistance level and has recently formed a descending triangle pattern as sellers are willing to go...

KQMarkets

We are currently long Silver and see the market consolidating at the $17.3 resistance level and from there rising and catching up to Gold's comparable outperformance. This is because the continued stock market turmoil and geo-political tensions would lead to investors fleeing towards safe haven assets such as Silver. In particular Silver is relatively volatile and...

KQMarkets

Gold has gone up approximately 7% since the beginning of the month however we are holding onto our long position despite the RSI being above 80 indicating it's overbought. This is because the current stock market turmoil and the 2s10s yield curve inverting indicating a recession is imminent could see investors flee further towards safe haven assets such as Gold....

KQMarkets

As indicated on our analysis from the 14.08 we have increased our position below $10000 and now see further upside potential as long as the market those not fall below the $9149 support level. Our near term target would be above $12000 at the $12209 resistance level which could be reached very rapidly due to the volatile nature of the market.

KQMarkets

We have been long Bitcoin and have therefore cut part of our position as we have dropped below the $10667 key support level. We were seeing Bitcoin as a safe haven to the US/China trade war and fall in equity markets but Bitcoin has dropped so we are re-assessing at this stage and believe it is better to be cautious at present in such an unpredictable and...

KQMarkets

On our last oil analysis as at the 08.08 we identified that the level at the time was an opportunity to start building a long position but we would not want to see the market drop below the $50.493 support level. Oil prices have effectively risen and we see further upside potential due to the US delaying applying tariffs on China so we now targeting prices to...

KQMarkets

All relatively quiet for Bitcoin these past few days as we await the next move either above the $12209 resistance level or below the $10667 support level. We would have expected Bitcoin to rise on the back of further drop in equity markets and a rise of the price of gold as we see as a form safe haven. However, the SEC delaying a decision on two Bitcoin ETFs could...

KQMarkets

Bitcoin has fallen a few hundred points over the past couple days as it struggles to sustain upward momentum but we are still bullish at the current level. However, we would not want to see Bitcoin fall towards $11000 below the $10679 support level and will wait and see how the trade war develops as we believe it is now a safe haven asset and a worsening of US...

KQMarkets

We have been short AUDUSD for a while and are encouraged by the continuation of the recent downtrend mainly due to the trade war as Australia is a major exporter of commodities to China in particular Iron Ore and Coal. Therefore we maintain our short position and will look towards key US data this week and AUD/USD employment data before looking to take profit at...

KQMarkets

We are still long USD/JPY which has dropped significantly in recent times mainly due to geopolitical tensions and general risk aversion. However, we maintain our long view providing we are above the 104.85 support level at which point we will cut some of our positions and look to re-enter the market at a different level. Additionally we will be keeping a closely...

KQMarkets

It's been a relatively quiet few days for EURUSD but tomorrow there is German Zew and US CPI data that will be released which could result in some price action . Therefore we are still short EURUSD with a 1.11 short term target and 1.09 longer term target but would not want to see the market break the 1.125 resistance level.

KQMarkets

Silver prices have stabilised after it's tremendous rise over the past few days but we see further upside if prices do not fall below the $16.6 support level. Furthermore, with a fall in yields due to a flight to safety into government bonds and central bank rate cuts we see Silver continuing to rise towards the $17.3 resistance level as well as catching up with...