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Bitcoin Sharp Move Higher

Bitcoin is moving higher. The pair is contained between strong support and resistance given at 6306 (13/11/2017 low) and 10232 (01/02/2018 high). The technical structure suggests shortterm decrease.

In the long-term, the digital currency has had an exponential growth but also presented important downturns. There is decent likelihood that the currency could stabilize between 7'000 - 12'000 in 2018. Bitcoin is trading below its 200 DMA (8500 range

CRUDE OIL Short-Term Bounce Underway

Crude oil is trading higher after breaking its support at 66.66 (25/01/2018 high), confirming a strong bearish momentum. Hourly support and resistance are given at 65.56 (17/04/2018 low) and 73.56 (28/11/2014 high). The technical structure suggests further short-term upward moves.

In the long-term, crude oil has recovered after its sharp decline last year. However, we consider that further weakness is very likely. For the time being, the pair lies in an upside trend since June 2017. Support lies at 42.20 (16/11/2016) while resistance is located at 77.83 (20/11/2014). Crude oil is trading largely above its 200 DMA.

SILVER Recovery Bounce

Silver has bounced. However, the short-term succession of higher lows continues to favour a bullish bias as long at uptrend floor holds.. Hourly support and resistance are given at 16.05 (19/12/2017 low) and 16.87 (06/03/2018 high).

In the long-term, the trend remains negative/ sideways. Further downside is very likely. Resistance is located at 21.58 (10/07/2014 high). Strong support can be found at 11.75 (20/04/2009). The pair is trading below its 200 DMA.

GOLD Test Of Downtrend Resistance Successful

Gold is moving higher. Hourly support and resistance are given at 1263 (21/12/2017 low) and 1329 (08/03/2018 high). The technical structure suggests short-term upwards moves.

In the long-term, the technical structure suggests that there is a growing upside momentum. A break of 1'392 (17/03/2014) is required to confirm it. A major support can be found at 1'045 (05/02/2010 low). The pair is trading below its 200 DMA.

EUR/CHF Hard Bounce Holding

EUR/CHF has made new lows, confirming an underlying bearish trend. Bearish target at 1.1463 was hit, placing the next extension level at 1.1352 (21/08/2017 low). Steep decline puts key resistance at 1.1516 (25/05/2017 low).

In the longer term, the technical structure has reversed. Strong resistance at 1.20 (level before the unpeg) is now at reach. The ECB's slowing QE program is likely to cause buying pressures on the euro, which should weigh in favour of the EUR/CHF. Support and resistance can be found at 1.0624 (24/06/2016 low) and 1.2097 (18/12/2014 high).

EUR/GBP Challenging Trendline

EUR/GBP has experienced a pickup in buying interest near the support at 0.8699. Next support and resistance are given at 0.8668 (22/03/2018 low) and 0.8838 (23/02/2018 high). The technical structure suggests short-term upward moves.

In the long-term, the pair has largely recovered from 2015 lows. The technical structure suggests further upside pressure. Strong resistance can be found at 0.9500 (psychological level) while support remains at 0.8304 (05/12/2016 low). The pair is trading below its 200 DMA.

AUD/USD Challenging Its Declining Trendline

AUD/USD has successfully tested the key support area at 0.7479 and is now challenging the resistance implied by its declining trendline (around 0.7585). The technical structure suggests short-term increase.

In the long-term, the upward trend slows down after failing to reach key resistance at 0.8164 (14/05/2015 low). Key support 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 Sharp Rejection

USD/CAD has successfully tested the key resistance area at 1.3047 and is now challenging the support implied by its rising trendline 1.2801. Next resistance can be found at 1.3125 (19/03/2017 high). The technical structure suggests short-term sideways moves.

In the longer term, the pair is trading between resistance point at 1.3805 (05/05/2017 high) and support at 1.2128 (18/06/2015 low). Strong resistance is given at 1.4690 (22/01/2016 high). The pair is likely to head lower. The pair is trading above its 200 DMA.

USD/CHF Decline In Channel

USD/CHF's has broken the support at 0.9916 (26/12/2017 high), validating a bearish reversal pattern with a downside risk at 0.9755. Key support and resistance given at 0.9755 (10/01/2018 low) and 1.0091 (09/05/2017 high) are maintained. The technical structure suggests short-term sideways trading moves.

In the long-term, the pair is still trading in range since 2011 despite some turmoil when the SNB unpegged the CHF. Key support lies at 0.9072 (07/05/2015 low) while resistance at 1.0344 (15/12/2016 high) is distanced. The technical structure favours a long term bullish bias since the unpeg in January 2015.

USD/JPY Weakening

USD/JPY is weakening, posting a potential lower high after its 16th May peak. Strong support and resistance are located at 107.90 (13/02/2018 low) and 111.48 (18/01/2018 high). The technical structure suggests short-term sideways trading moves.

We favor a long-term bearish bias. Support remains at 101.20 (09/11/2016 low). A gradual rise toward the major resistance at 125.86 (05/06/2015 high) seems unlikely. Expected to decline further support at 101.20 (09/11/2016 low). The pair trades slightly above its 200 DMA.