KQMarkets

KQMarkets

Bitcoin has stabilised over the past few days which is encouraging in particular as Altcoins are down on the day re-enforcing our view that Bitcoin is now seen as a safe haven. Bitcoin is flat for the day whilst major Altcoins such as Ethereum -3.5%, XRP -3%. LTC -5% have dropped in comparison therefore even though Bitcoin is struggling to rise above the key...

KQMarkets

Oil WTI has dropped about 15% from the level it was at in mid July due to rising US/China trade tensions and an unexpected build up of US stock piles. However, we see this as an opportunity to build a long position as USD/CNH has stabilised and it is rumoured that oil producers are potentially thinking of taking action to increase prices. Therefore we are...

KQMarkets

With the recent escalation of the trade war between the US and China and the fall of equity markets the odds of a FED rate cut in Sep and Dec have increased with could see EURUSD appreciating. However, as we are not convinced the US will cut rates in Sep and Dec, and this coupled with the EU cutting rates and planning on providing further stimulus to the Eurozone...

KQMarkets

We are encouraged that Bitcoin has stabilised at the current level and is edging upwards towards the key resistance level at $12227 which leads us to believe that prices could breakout in the next few days towards $13000. This is because of increased geopolitical tensions and Bitcoin increasingly being seen as a safe haven as it is seen a store of value and is...

KQMarkets

Today has seen Gold pass $1500 reaching levels not seen in six years on the back of escalation of the trade war between the US and China and the subsequent fall in equity markets. This coupled with central banks worldwide cutting rates and we think even the US could keep cutting rates in the future even though Powell gave no indication of this in his comments...

KQMarkets

Today Silver has exploded to the upside breaking through the resistance level at $16.6 we mentioned on our analysis on the 05.08. Now this leaves the path clear to our first target level at $17.3 with Silver already at a level not seen since June 18. We therefore are holding our long position in anticipation of further upside in particular due to the ongoing...

KQMarkets

Bitcoin was unable to consolidate at the key Fibonacci resistance level at $12227 we mentioned yesterday which could be due to the alleviation of tensions in the US/China trade war and uplift in equity markets. The White House yesterday indicated that they were still open to negotiations with China and the Yuan has somewhat stabilised after the People's Bank of...

KQMarkets

We have been long USDJPY and see the current level as an opportunity to increase our position due to alleviated concerns over the current state of the US/China trade war. This is highlighted by the S&P 500 rising 1.3% yesterday and White House adviser Larry Kudlow advising that the US is still open to negotiation with China. Therefore we still hold our long...

KQMarkets

As mentioned on our analysis on the 01.08 we are short AUDUSD and are targeting 0.67 for the time being so we will look to take profit once the currency pair has broken the 0.67326 Fibonacci support level. AUDUSD has dropped considerably recently due to a Dovish RBA that are expected to cut rates further due to the not being able to reach their unemployment target...

KQMarkets

Despite EURUSD moving up from $1.10262 to $1.125 we are still short and have taken the opportunity to increase our short position above $1.12. This is because the US economy we believe is much stronger than the Eurozone economy and despite the 25 bps FED rate cut and Trump calling for additional rate cuts we don't believe the FED will cut further this year whilst...

KQMarkets

Bitcoin has had a significant of upward momentum recently but we see the current resistance level at $12277 as crucial for the cryptocurrency to return to year to date highs just below $14000. Therefore we remain long in particular with the ongoing trade war and would want the market to consolidate at this level and not drop below $11000. There are views that the...

KQMarkets

On our post earnings analysis on the 31.07 we were bullish Apple as the stock was trading at $217 and had crossed the $213.5 Fibonacci level. We were therefore expecting that Apple could potentially hit all time highs but as we feared could happen a souring of US/China trade relations has caused a sharp reversal in Apple's stock price and we have therefore fully...

KQMarkets

On our analysis from the 31.07 we advised that we were long Silver and we were looking for prices to break to the $16.6 resistance level before heading towards $17.3. Due to Trump unexpectedly adding 10% tariffs on $300 billion of Chinese goods we believe a breakout above $16.6 is imminent and due to Silver's volatile nature prices could quickly move towards...

KQMarkets

On our last analysis on the 31.07 we indicated that we were long Bitcoin and were looking for the $10,000 psychological level to be broken despite increasing regulatory pressure on cryptocurrency and the recent drop from nearly $14000. Bitcoin has effectively risen through $10,000 as it aims for the $12,274 Fibonacci level. This is predominantly due we believe to...

KQMarkets

On our last AUDUSD analysis on the 23.07 we indicated that the AUDUSD position at the time at the key psychological level of 0.7 would be a short opportunity primarily due to market expectations of further RBA rate cuts. The currency pair has effectively dropped down 0.685 as a result of the unexpectedly hawkish FED which advised that there would be just a 25bps...

KQMarkets

Powell's more hawkish than expected commentary after he announced a 25bps rate cut and indicated that there would be no further rate cuts going forward USDJPY jumped from 108.7 to 109.2. We expect the currency to keep rising in particular if the global economic growth is not weakening and there is no worsening in trade relations between the US and China as the YEN...

KQMarkets

We have been short EURUSD for a while and yesterday's FED meeting where Powell announced a 25bps rate cut but indicated there would be no further cuts led to EURUSD dropping from 1.116 to 1.104. This is because the EU is looking to cut rates and embark on quantitative easing due to the weakness in the Eurozone economy. Therefore we are holding our short position...

KQMarkets

On our pre-earnings analysis yesterday we indicated that we were long Apple as a positive earnings announcement could lead to the stock rising above the $213.5 Fibonacci level. Yesterday, Apple announced that despite a drop in iphone sales it's accessories revenue growth led to EPS coming in at $2.18 vs $2.10 and upward Q4 revenue guidance resulted in the the...