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SILVER Bouncing On Support

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Silver has been bouncing on hourly support at 15.61 (14/07/2017 low). Hourly resistance is given at 17.46 (13/10/2017 high). Expected to keep pushing lower.

In the long-term, the trend is rater negative. Further downsides are very likely. Resistance is located at 25.11 (28/08/2013 high). Strong support can be found at 11.75 (20/04/2009).

GOLD Continued Decline

Gold is now edging lower after strong collapse. The technical structure confirms a further consolidation phase. Support given at 1251 (08/08/2017 high) has been broken. Resistance is located at 1288 (20/10/2017).

In the long-term, the technical structure suggests that there is a growing upside momentum. A break of 1392 (17/03/2014) is necessary ton confirm it, A major support can be found at 1045 (05/02/2010 low).

BITCOIN Ready For Another Upside Move

Bitcoin's bullish momentum is far fom over. The technical structure has shown a tremendous positive short-term momentum. Hourly support is located below 14k (08/12/2017 low). Strong support stands very far at 2975 (22/08/2017 low). In the short-term, the digital currency should continue rising at levels unseen so far.

In the long-term, the digital currency has had an exponential growth. There are decent likelihood that the asset will reach $40'000 in 2018.

EUR/CHF Stalling Below 1.1700

EUR/CHF continues to push towards resistance area above 1.17 and support given at 1.1610 (27/10/2017 low). Expected to show continued increase.

In the longer term, the technical structure has reversed. Strong resistance is given at 1.20 (level before the unpeg). 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).

EUR/GBP Sideways Price Action

EUR/GBP is trading mixed. The pair has failed to hold below broken support at 0.8791 (07/11/2017 low). Resistance is located at 0.8943 (27/11/2017 high). Expected to show further sideways trading.

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).

AUD/USD Short-Term Bounce

AUD/USD's downside pressures continue to increase despite short-term bounce. Hourly resistance is given at a distance at 0.7897 (13/10/2017 high). Key support at 0.7535 (22/06/2017 low) has been broken. Expected to go even lower.

In the long-term, the trend is turning positive. Key supports stands at 0.6009 (31/10/2008 low) . A break of the key resistance at 0.8164 (14/05/2015 high) is needed to invalidate our long-term bearish view.

USD/CAD Monitoring 1.2900

USD/CAD has bounced back after testing hourly support lies at 1.2667 (10/11/2017 low). Hourly resistance stands at 1.2917 ( 27/10/2017 high). Expected to show further consolidation around 1.2900.

In the longer term, the pair has broken longterm support that can be found at 1.2461 (16/03/2015 low). Strong resistance is given at 1.4690 (22/01/2016 high). The pair is likely to head further lower.

USD/CHF Short-Term Retracement

USD/CHF is edging lower. The pair lies in a short-term bearish momentum. Yet, the technical structure indicates further downside risks. The pair has failed to hold consistently above the parity.

In the long-term, the pair is still trading in range since 2011 despite some turmoil when the SNB unpegged the CHF. Key support can be found 0.8986 (30/01/2015 low). The technical structure favours nonetheless a long term bullish bias since the unpeg in January 2015.

USD/JPY Short-Term Bullish Momentum

USD/JPY keeps on pushing higher. The pair has strongly bounced back. The pair is heading towards strong resistance at 114.73 (06/11/2017 high).

We favor a long-term bearish bias. Support is now given at 99.02 (10/08/2013 low). A gradual rise towards the major resistance at 125.86 (05/06/2015 high) seems unlikely. Expected to decline further support at 93.79 (13/06/2013 low).

GBP/USD Lack Of Follow-Through

GBP/USD is bouncing lower. The technical structure indicates the end of the bullish momentum. Support is given at a distance at 1.3320 (07/12/2017 low). Expected to show continued further monitoring of resistance at 1.3549.

The long-term technical pattern is reversing. The Brexit vote had paved the way for further decline. Long-term support can be found at 1.1841 (07/10/2017 low). Long-term resistance given around 1.35 is at stake and indicates a long-term reversal in the negative trend. Yet, it is very unlikely at the moment.