KQMarkets

KQMarkets

On our analysis on the 04.06 when USDJPY was at the Fibonnaci support level at 107.894 we advised that we would start to build a long position. The currency pair has since gone up towards 108.8 last week and consolidated at around 108.6 on the back of stronger than expected retail sales last Friday. The markets are rather subdued ahead of the FOMC meeting on...

KQMarkets

On our analysis on the 03.06 we indicated that we saw Gold breakout of a falling wedge and prices have kept rising due to increased expectation of a rate cut in the US and tensions in the middle east as two ships were attacked in the Persian golf. However, Gold has fallen from today's high at around $1357 in particular due to relatively strong retail sales and...

KQMarkets

On our analysis on the 05.06 we advised that we were short ahead of the ECB meeting on the 06.06 where Mario Draghi indicated that the ECB was open to rate cuts and the resumption of QE. However, the market did not react favourably to this and the Dax dropped to 11899 from an open of just below 12000. The Dax has recovered on the back of positive news surrounding...

KQMarkets

Bitcoin had dropped significantly from our analysis on the 27.05 where it was at $8200 passing the key Fibonacci level resistance level at $8029 and we expected it to go higher. However, since then it dropped towards $7500 before heading back up towards the $8029 Fibonacci level. The dip was unexpected to us but can be attributed to an escalation of US/China trade...

KQMarkets

On our analysis on the 31.05 we advised that we were short and had taken profit, since then the Dax rose over 12,000 on the back of dovish comments by FED Chairman Powell. It has since then dropped a bit and we maintain our short position ahead of the ECB and we will look to stay short unless the Dax rises above the multi month Fibonacci resistance level above 12,400.

KQMarkets

On our analysis on the 24.05 we expressed an AUDUSD short view however since then the currency pair has risen on the back of US/China trade tensions but we still maintain our long term short term view below the 0.70325 Fibonacci level. We will be monitoring any major developments in the currency pair after USD ISM Non-Manufacturing/Services Composite and AUD Gross...

KQMarkets

EURUSD has gone up since our last analysis as US/China trade tensions escalated leading to downward pressure on the dollar but we maintain our long term short position and we will look to add to it around the next key Fibonacci resistance level at 1.12858. Looking forward we will be monitoring upcoming data releases starting with the release of ISM manufacturing...

KQMarkets

We have seen USDJPY drop recently due to an increase in trade tensions between the US and China which has put downward pressure on the dollar and increased demand for the Yen which is a safe haven currency. Additionally, the expected rate cut in the US due to fears over the economy has put added pressure on the currency pair as the benchmark 10-year Treasury's...

KQMarkets

Gold has broken out of a falling wedge mainly due to the escalation of the trade war between the US and China. We don't expect any further price rise in the short term as stocks have risen from the low's of the day and the RSI above 70 is showing that Gold is currently overbought. Therefore we will hold a neutral position but advocate holding Gold as part of a...

KQMarkets

On our analysis on the 30.05 we indicated that we were still short after the recent drop in the index. The Dax has effectively kept dropping leading us to slightly reduce our position and we see the next move as key. We would like to see the Dax below the Fibonnacci support level at 11658 in order to move towards the 11315 support level. As long as the Dax stays...

KQMarkets

On our analysis as at the 21.05 we indicated that we would start taking profit if the Dax broke the Fibonacci level at $12024. The Dax effectively broke the Fibonacci level at $12024 and went all the way down to $11830 hence we have taken profit and we will maintain our short stance as long as the market is below the $12,024 resistance level at which point we will...

KQMarkets

On our analysis as at the 23.05 we indicated that we would be closely monitoring the Fibonacci resistance level at 1.1163. EUR/USD effectively broke through this level but did not break through the 1.22 Fibonacci level therefore we maintain our short stance on the currency pair unless the currency pair crosses the multi month resistance level at 1.2264. We will be...

KQMarkets

On our analysis on the 17.04 we indicated a bullish flag as prices bounced off the long term downtrend line from the beginning of Oct 18. Therefore we expected Microsoft to continue it's uptrend which effectively it has as prices are above the Ichimoku cloud and the RSI and Stochastic indicators are not signalling the stock is overbought. Consequently we maintain...

KQMarkets

On our analysis as at the 20.5 we indicated that Bitcoin was re-attempting to consolidate at $8024 and if the market consolidated at this level we expect the market to rise towards the next Fibonacci level up at $9330. Bitcoin rose towards $8200 so we now take a bullish stance and expect the recent uptrend to continue towards $9330.

KQMarkets

We are still short AUDUSD and would look for the currency pair to move towards the next Fibonacci support level at 0.6713 to take further profit with upside resistance at 0.70325.

KQMarkets

On our analysis of the 17.03 we were waiting for EUR/USD to drop below the Fibonacci level support level at 1.11109 before taking further profit. Effectively EUR/USD dropped to the Fibonacci level at 1.11076 and we took some profit but the currency pair is now back trying to consolidate at the Fibonacci resistance level at 1.1163 so we will see how the market...

KQMarkets

We are currently short the Dax and we see this as good opportunity to increase our short position below the key Fibonacci resistance level at $12440 due to the escalation of trade tensions between the US and China. This is because as a result of the ongoing trade war we expect the index to be significantly more volatile and we will therefore look to the Dax...

KQMarkets

As expected from our analysis on the 16.05 Bitcoin didn't hold and consolidate at the Fibonacci level at $8024 and dropped down towards the next Fibonacci level down at $6995.01. However, what is interesting is that it bounced back fairly sharply all the way up to around $8200 on yesterday evening before falling back to the current level at $7772. Therefore, we...