Sun, Apr 26, 2026 05:49 GMT
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    BITCOIN Strong Recovery Bounce

    Swissquote Bank SA

    Bitcoin has bounced strongly suggesting a near term test of 5866 (all-time high). Strong support stands very far at 2975 (22/08/2017 low). Bitcoin si ready to set up new all-time high. The road is wide open for further increase. In the short-term, the digital currency should monitor $6000.

    In the long-term, the digital currency has had an exponential growth. There are decent likelihood that the asset will reach $10'000.

    EUR/CHF Finding Buyers

    EUR/CHF recovery bounce continues. Strong resistance lies at 1.1566 (12/10/2017 high). Support is given at 1.1388 (02/09/2017 low). Downside risk is very likely.

    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 Recovery Bounce

    EUR/GBP continues to bounce higher yet not important resistances have been broken. The pair is back below former resistance at 0.8899 (19/09/2017 low). Hourly support is given at a distance at 0.8746 (27/09/2017 low).

    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 Bouncing

    AUD/USD recovery has been weak indicating further downside risk. Hourly resistance is given at 0.7897 (13/10/2017 high). Support lies at at 0.7786 then 0.7733 (06/10/2017 low). Expected to show continued consolidation.

    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 Reversal Within Channel

    USD/CAD continues to bounce within uptrend channel. Strong support is located at a distance at 1.2062 (08/09/2017 low). Hourly support lies at 1.2331 (26/09/2017 high). Resistance is given at 1.2663 (31/08/2017 high). Expected to show continued short-term bullish pressures within uptrend channel.

    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 Recovery Bounce Losing Momentum

    USD/CHF has failed to test resistance 0.9838. Hourly support stands at 0.9712 (12/10/2017 low). The technical structure suggests an improving short-term buying interest. Expected to show continued bullish pressures within uptrend channel.

    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 Bullish Momentum Gaining

    USD/JPY is preparing to challenge resistance at 113.26. Strong hourly resistance is given at 113.44 (06/10/2017 high). Support is located at 111.12 (20/09/2017 low). However downside risks are definitely rising as markets are now taking some short-term profit after the strong increase during September,

    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 Weak Recovery Bounce

    GBP/USD is weakening and is now close to the support at 1.3155. key support can be found at 1.3122 12/10/2017 low). Hourly resistance stands at 1.3338 (13/10/2017 high).

    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.

    EUR/USD Still Bouncing

    EUR/USD momentum is again heading towards hourly resistance at 1.1878 (12/10/2017 high). Strong support is given at a distance at 1.1662 (17/08/2017 low). Expected to show some shortterm consolidation.

    In the longer term, the momentum is now turning largely positive. We favour a continued bullish bias. Key resistance is holding at 1.2252 (25/12/2014 high) while strong support lies at 1.0341 (03/01/2017 low).

    Technical Outlook: US CRUDE OIL – Risk Of Deeper Pullback On Break Below $51.00

    WTI oil fell $1 on Thursday after repeated failure to sustain break above $52.00 barrier. Probes above $52.00 were repeatedly rejected in past few days with stronger indecision signal and possible rally stall being generated in double Doji in past two days.

    Techs also support scenario of reversal as slow stochastic reversed from overbought territory on daily chart and daily RSI turned south, moving also below its 7d moving average.

    Dips is so far holding above pivotal $51.00 support zone (Fibo 38.2% of $49.09/$52.35 upleg / converged 10/20SMA’s), with sustained break here needed to signal deeper pullback and expose Fibo supports (50% and 61.8%) at $50.72 and $50.34 respectively.

    On the other side, fundamentals remain firm and supportive for further advance as oil sectors is nearing rebalancing after long period of oversupply which depressed oil prices, concerns about output disruption from Iraqi oilfields has faded and US crude stocks fell for the fourth consecutive week.

    Limited downside action is needed to keep focus at the upside for final attack at key $52.84 barrier (28 Sep high).

    Res: 52.16, 52.35, 52.84, 53.18
    Sup: 51.00, 50.72, 50.34, 50.00