KQMarkets

KQMarkets

We still hold a neutral view on Bitcoin whilst the cryptocurrency remains below resistance at around $43,500. The 50 day MA has moved below the 100 day MA and appears likely to cross the 200 day MA in the coming trading sessions triggering a sell signal. Bitcoin has rallied in the past few days on the back of regulators proposing capital requirements dealing in...

KQMarkets

We still hold a long view on USDJPY pre Core Inflation Rate YoY (May) and Inflation Rate YoY (May) data releases later today despite the currency pair struggling to consolidate above resistance at around 110. If US inflation data is much stronger than expected this could cause the currency pair to spike above 110 and continue it's upward momentum since the start...

KQMarkets

We still see EURUSD moving higher whilst it remains above support at 1.2144 as we await the ECB rate decision and US inflation data tomorrow. An unexpected policy shift by the ECB or if US inflation data is significantly different than expected could lead to a large amount of volatility for the currency pair. A consolidation below support at 1.2144 could lead to...

KQMarkets

We still hold a long AUDUSD view despite rising inflation as we await key US inflation data Friday which could lead to significant price action with Core Inflation Rate YoY (May) and Inflation Rate YoY (May) forecast at 3.4% and 4.7% respectively. However, whilst the FED hasn't indicated it will change it's stance on monetary policy we still see the currency pair...

KQMarkets

Gold has recently continued it's strong upward momentum over the past few months and we believe could challenge long term resistance at $1919 over the coming trading sessions. Additionally, there could significant price action tomorrow if the payroll number is considerably different than the 650K forecast. If the 50 day MA moves above the 200 day MA this would...

KQMarkets

We still hold a neutral view on Silver and feel that non farm payrolls on Friday could trigger significant price action and enable us to form a directional view. The precious metal has failed to consolidate above resistance around $28 over continued fears of rising inflation and the possibility of the FED raising rates. Therefore a greater than expected payroll...

KQMarkets

Bitcoin has rebounded sharply from dropping towards $30,000 on Sunday predominantly due to the Chinese government's plans to ban all Bitcoin mining. However, we would want the cryptocurrency to consolidate above resistance at around $40,000 and the 50 day MA move back above the 100 day MA to take a long view. This is because Bitcoin wasn't able to consolidate...

KQMarkets

We hold our long USDJPY view whilst the currency pair is above support around 108 despite prices not having been able to breakthrough resistance above 110. This is due to the FOMC minutes indicating that the FED could taper asset purchases in the near future as the US economy continues to re-open from the covid pandemic shutdown. Therefore we will await key...

KQMarkets

We still hold a neutral view on EURUSD pre the FOMC minutes later today as we await indications on whether the FED still see rising inflation as transitory. Any deviation from the current narrative towards tightening monetary policy would cause a sharp sell off in the currency pair. This is despite EURUSD gaining upward momentum in recent weeks as both the 20 day...

KQMarkets

We still see AUDUSD moving higher whilst the currency pair is above 0.786 despite US inflation data coming in stronger than expected yesterday. The US core inflation rate YoY was 3% vs 2.3% forecast and the US inflation rate YoY was 4.2% vs 3.6% forecast causing AUDUSD to move lower. However, whilst prices remain above 0.786 and there is no major shift in FED...

KQMarkets

Gold has consolidated above support at $1820 and we expect the precious metal to continue it's upward momentum due to fears over rising inflation. Additionally, a much lower than expected payroll number last Friday further fueled Gold prices as we await US inflation data later today for any significant price action.

KQMarkets

We have changed our view from short to neutral as Silver has continued it strong upward momentum and consolidated above resistance at $26.6. There has been an increased demand for Silver for protection against the risk of rising inflation and it's uses for industrial production including electrical vehicles and solar panels. Silver is therefore expected to benefit...

KQMarkets

The Dax could move lower towards support around 14,000 as equities continue to look shaky over inflation fears and subsequent comments by Yellen that as a result rates may need to be raised sooner than previously anticipated by the market. Additionally, the RSI is at 65 indicating the index could start to become overbought as we await non farm payrolls on Friday,...

KQMarkets

We expect Bitcoin to continue moving higher whilst it remains above key support at $54400 as despite it being outperformed by other cryptocurrencies such as Ethereum recently it still has positive upward momentum. This is highlighted by the 50 day MA being significantly above the 100 day MA and 200 day MA and we still believe the cryptocurrency has the potential...

KQMarkets

We hold our long view on USDJPY as we await non farm payrolls on Friday anticipating the currency pair challenging resistance around 110. Last Thursday Q1 US GDP growth rate came in at 6.4% vs 6.1 % forecast contributing to the US dollar strengthening whilst the Bank of Japan had their monetary policy meeting last week. The Bank of Japan indicated that there would...

KQMarkets

We have changed our EURUSD view from short to neutral as await the FED press conference later today. The 20 day MA is challenging the 50 day MA but we would want to see prices rise above resistance at 1.214 before potentially determining that the currency pair's downtrend so far this year will continue. Additionally, Biden is expected to propose a $1.8 trillion...

KQMarkets

AUDUSD has re-established it's upward momentum from dropping towards support at 0.754 at the time of our last piece of analysis on the currency pair. We see further upside and prices challenging yearly highs above 0.8 as we expect no major shift from the FED policy in tomorrow's press conference of keeping rates low and continuing QE for the foreseeable future....

KQMarkets

The Dax's phenomenal rally from pandemic lows has seen the index almost double in just over 12 months on the back of ECB quantitative easing. However, there are growing calls amongst the more hawkish members of the ECB's governing council for bond purchases to be scaled back as inflation and economic growth is expected to increase in the coming months. However,...