BITCOIN Ready for a short-term bullish consolidation

BITCOIN Ready for a short-term bullish consolidation


EUR/GBP

Weakening.

  • EUR/GBP has broken uptrend channel. Hourly support is given at 0.8719 (16/06/2017 low). Expected to show further monitoring of support given at 0.8719.

  • In the long-term, the pair has largely recovered from recent lows in 2015. The technical structure suggests a growing upside momentum. The pair is trading above from its 200 DMA. Strong resistance can be found at 0.9500 psychological level.


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EUR/CHF

Buying pressures continues.

  • EUR/CHF is still trading above psychological level at 1.1000. Selling pressures are very weak at the moment. Hourly support is located at a distance at 1.0922 (30/06/2017 low). Expected to inch higher.

  • In the longer term, the technical structure is mixed. Resistance can be found at 1.1200 (04/02/2015 high). Yet,the ECB’s QE programme is likely to cause persistent selling pressures on the euro, which should weigh on EUR/CHF. Supports can be found at 1.0184 (28/01/2015 low) and 1.0082 (27/01/2015 low).

EURCHF

 

BITCOIN (in USD)

Ready for a short-term bullish consolidation.

  • Bitcoin has strongly declined over the weekend. Strong hourly resistance can be found at 2417 (13/07/2017 high) and hourly support is now given at 1852 (14/07/2017 low). Expected to show some sustained short-term bullish momentum.

  • In the long-term, the digital currency has had an exponential growth. There are decent likelihood that the asset will consolidate above $1500. Long-term support is given at $1464 (04/05/2017 low).

BITCOIN



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