KQMarkets

KQMarkets

We have been long Silver for a while and feel that tonight's FED meeting is crucial as Silver has stabilised over the past few days at the current level. However, any major price action from the FED announcement and statement current level knowing Silver's volatile nature could quickly lead to price breaking the $16 support level towards $15.6. Alternatively,...

KQMarkets

We are currently long Bitcoin and feel the cryptocurrency has stabilised somewhat from the surge in June and subsequent drop. Now we can see Bitcoin reaching the key $10000 psychological level in the next few days with support at the $9272 and resistance on the upside at $10779. Therefore we maintain our long position despite increasing regulatory pressure on...

KQMarkets

We are currently long Apple and have mentioned on our last analysis that our short term target is above the $213.5 Fibonacci level. The stock has been relatively stable in recent days and an earnings surprise where EPS is above $2.1 per share alongside a positive growth outlook and stronger than expected iPhone sales could lead to the stock rising above $213.5...

KQMarkets

We have been long USDJPY for a while and are targeting the currency pair to consolidate at the Fibonacci level just below 109 before heading towards 110 and levels not scene since May. Additionally at 52.6 the RSI indicates there is further upside potential but a lot depends on the FED meeting on tomorrow but the Bank of Japan today indicated that it would not...

KQMarkets

We have been short EUR/USD aiming for 1.09 for while and the next move from the current level at 1.15 is crucial. EUR CPI has come in slightly higher at 1.7% actual vs 1.5% expected and US CPE core came in at 1.6% actual vs 1.7% expected. However, this has not resulted in much price action as key is Wednesday's FED meeting but if the FED is less Dovish than...

KQMarkets

We have opened a buy long term natural gas position as we believe that there is significant upside potential despite the current supply glut and renewable energy growing in market share. This because at such a low level extreme weather conditions could cause a spike in natural gas prices which could lead to prices doubling from the current levels. Therefore we...

KQMarkets

On our analysis on the 24.07 we indicated that we were long the FTSE100 due to pressure GBP/USD due to the uncertainty surrounding Brexit which would be positive for the FTSE100 as a large proportion of profits for FTSE 100 companies are made in dollars. Since then the FTSE 100 has risen by nearly 3% and with the expected US rate cut on Wednesday we anticipate the...

KQMarkets

We are currently long Gold and would not want to see the commodity fall below the $1400 psychological level towards the $1382 Fibonacci level. With the forecasted FED 25bps rate cut next week we expect Gold to continue it's upward trajectory towards the $1452 Fibonacci level. We therefore maintain our long position as long as there is no major shift in the FED...

KQMarkets

On our analysis on the 19.07 we indicated that we were long Silver but expected a pullback towards $16. This effectively happened as Silver dropped from $16.3 to close to $16 before resuming it's rally all the way up to $16.6. This is a critical level now for Silver and we are looking for it to consolidate at this level before rising towards the next Fibonacci...

KQMarkets

On our analysis on the 12.07 we advised that we were long Apple at $203.72 and since the price has risen to $208.89. However, in order consolidate the upward trend we would want to see Apple above the $213.5 Fibonacci level and could see the stock reaching this level on the back of the 30.07 up to June 19 quarterly earnings. This is because we can see Apple...

KQMarkets

We expect the ECB to be dovish tomorrow with Draghi to comment on potential rate cuts which could start from September and further quantitative easing. The Dax is particularly volatile and could easily jump 200/300 points above 12,660 to reach at year to date high on the outcome of the ECB meeting tomorrow. We are therefore long the index providing the Dax doesn't...

KQMarkets

We are currently long the FTSE 100 which has dropped over the past day on the back of Boris Johnson's appointment and the subsequent strengthening of the pound. The pound strengthened as the market hopes that initial comments by Michel Barnier the European Union's Chief Negotiator would open the door to positive negotiations between the UK and the EU. However, we...

KQMarkets

We are currently long USDJPY and have seen the currency pair jump from around 107.2 over the past week to above 108 and we are looking for consolidation around the current level before USDJPY moves towards the Fibonacci level at around 108.9. This is predominantly due to market expectations that the FED will not cut rates as aggressively as previously with...

KQMarkets

We are currently short AUDUSD and see the current level as an opportunity to increase the position with a view to the currency pair breaking the Fibonacci level at around 0.69. AUDUSD is at the key 0.70 psychological level and with no Chinese data to be released and with RBA governor speaking on Thursday we expect downward pressure on the currency pair even...

KQMarkets

On our analysis on the 02.07 we were short EURUSD after a strong payroll and have since taken profit as the currency pair fell below 1.12. We are still short and long term we expected EURUSD to keep falling and believe it could fall to multi years lows below 1.08 by the end of 2019. This week could bring a significant amount of movement in the currency pair with...

KQMarkets

On our analysis on the 17.07 we advised that we saw the level of $9,734, after Bitcoin had fallen 30 per cent, as an opportunity to go long. Bitcoin has since risen significantly above the $10,000 psychological level and we are now hoping the market consolidates at the current level before heading back up towards the Fibonacci level above $12,000.

KQMarkets

Over the past week we have seen Silver rise around 7% to $16.3 helped by comments from New York Fed president John Williams that the FED needs to act quickly which were taken by the market as increasing the odds of a rate cut at the July 31st FOMC meeting. However, we expect a pullback as Silver is quite volatile and the RSI is at it's highest from January...

KQMarkets

On our analysis on the 25.06 we advised that we could see significant upside potential for silver after it breaches the key $15.83 Fibonacci resistance level. Silver has effectively passed this level on the back of a dovish FED and the market expecting a rate cut by the FOMC on the 31.07. We are therefore still long Silver and will look prices to reach the next...