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BITCOIN Consolidating Around 2700

Bitcoin has surged strongly last week. Hourly resistance can be found at 3000 (12/06/2017 high) and hourly support is given at 2615 (21/07/2017 low). Expected to show some further retracement.

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).

CRUDE OIL Renewed Bearish Pressures

Crude oil is trading lower. Hourly support is given at 43.65 (10/07/2017 low). Strong resistance given at 48.42 (05/06/2017). Expected to show continued weakness.

In the long-term, crude oil has recovered after its sharp decline last year. However, we consider that further weakness are very likely. Strong support lies at 35.24 (05/04/2016) while resistance can now be found at 55.24 (03/01/2017 high).

SILVER Bullish

Silver is pushing higher after the bounce still bouncing from hourly support given at 15.18 (10/07/2017 low). Key resistance is given at a distance at 17.75 (06/06/2017 high). The commodity has broken the 16-mark. Expected to inch higher.

In the long-term, the death cross indicates that 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).

AUD/USD Consolidating

AUD/USD's technical structure is bullish since early May despite some profit-taking. Hourly resistance is given at 0.7989 (19/07/2017 high). Hourly support is given at 0.7875 (21/07/2017 low).

In the long-term, we are waiting for further signs that the current downtrend is ending. Key supports stand at 0.6009 (31/10/2008 low) . A break of the key resistance at 0.8295 (15/01/2015 high) is needed to invalidate our long-term bearish view.

USD/CAD Riding Lower

USD/CAD is going lower and the pair remains in a strong bearish momentum. Hourly support is given at 1.2524 (21/07/2017 low). Hourly resistance is given at 1.2701 (17/07/2017). Expected to show continued bearish pressures.

In the longer term, the pair lies in a bullish channel since a year. Strong resistance is given at 1.4690 (22/01/2016 high). Long-term support can be found at 1.2461 (16/03/2015 low).

USD/CHF Continued Weakness

USD/CHF is pushing lower. Hourly resistance can be found at 0.9696 (09/06/2017 high). Strong resistance is given at 1.0107 (10/04/2017 high). Expected to to show further weakness.

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

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8943; (P) 0.8969; (R1) 0.8998; More

With 0.8898 minor support intact, intraday bias in EUR/GBP remains on the upside first. Current rally would target a test on 0.9304 high. There is no clear sign of up trend resumption yet. Hence, we'll be cautious on strong resistance from 0.9304 to limit upside and bring another fall. On the downside, below 0.8898 minor support will turn intraday bias neutral first. But near term outlook will remain mildly bullish as long as 0.8742 support holds.

In the bigger picture, price actions from 0.9304 are viewed as a medium term corrective pattern. It's uncertain whether it is finished yet. But in case of another fall, we'd expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) to contain downside and bring rebound. Whole up trend from 0.6935 is expected to resume after consolidation from 0.9304 completes.

EUR/GBP 4 Hours Chart

EUR/GBP Daily Chart

GOLD Bullish Momentum Continues

Gold's is trading higher after the precious metal reached the support given at 1204 10/07/2017 high). Hourly resistance lies at 1258 (23/06/2017 high). Expected to show further strengthening.

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)

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.4637; (P) 1.4705; (R1) 1.4801; More...

With 1.4585 minor support intact, intraday bias in EUR/AUD remains on the upside for the moment. Correction from 1.5226 could have completed with three waves down to 1.4421 already. Sustained trading above 55 day EMA (now at 1.4744) will target 1.5073 resistance. Break there will indicate resumption of whole rise from 1.3624. On the downside, below 1.4585 minor support will turn focus back to 1.4421 instead.

In the bigger picture, we're holding on to the view that corrective decline from 1.6587 medium term has completed at 1.3624. Rise from 1.3624 is expected to resume to retest 1.6587. The corrective structure of the fall from 1.5226 is affirming this view. Above 1.5226 will target a test on 1.6587 key resistance. However, further downside acceleration will dampen our view and would drag EUR/AUD lower to retest key support zone around 1.3624.

EUR/CHF Pushing Higher

EUR/CHF is still trading above psychological level at 1.1000 and the pair is ready to monitor 1.1100. Selling pressures are growing below 1.1100. 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).