ATFX Press Releases - 2018

[Kelly Yeung]

In Taiwan, the FX retail trading environment is shaping up to be a well-organized B2B haven, with reliance on high-quality Introducing Brokers (IBs) to bring in sustainable volumes of business to global FX firms.

And while ATFX has hosted numerous seminars previously in Taiwan, this was its first in the country that’s exclusively tailored for IBs. The financial services company put its full team for this event, where close to 80 IBs – both junior and senior – attended. Located at the Marriott Hotel Taipei and hosted on July 7th, 2018, the 5-hour seminar aided in expanding the IB network of the up-and-coming country’s potential.

The seminar’s content was precise and thorough, introducing the vast range of ATFX’s products, services, and its professional team, as well as the advantages for working with one of the global leaders in online trading. Furthermore, there were two speakers on the roster. Ethan Liu, the Senior Business Director at ATFX, tackled the fundamentals of FX trading and technical analysis in the trading market. Ethan was previously a top 100 business development director of a famous Taiwan investment company and has over 10 years of experience in the Forex trading industry.

The second speaker was Justin Lee, who also has over 10 years of experience in FX and is the founder of 917trade.com. The website developed by Justin provides daily market information, analysis, tutorials, and features live YouTube broadcasts. His mission is to aid IBs in improving their trading methods, which in turn can be passed on to their clients through the sharing features on his website. Justin shared the values of 917Trade with all the aspiring IBs during the seminar. He discussed how ATFX does a thorough market outlook analysis. After that, ATFX familiarised new IBs with the business operations and plans for market development.

Following the two topics there was a Q&A and discussion section, where IBs had a chance to question and discuss how to improve and operate a successful IB business with a global partner that was highly established in Taiwan and take advantage of market opportunities in multi-asset trading with strategies partnerships. A dinner was also arranged by ATFX for the IBs following the seminar.

One IB stated that, “it is a one stop shop trading seminar for IBs. In particular, it was good to have up to date information about the trading environment. There were many useful tips regarding developing IB business in ATFX.”

The seminar was a one stop shop trading seminar for IBs in the country to ensure updated trading information and useful instruments regarding developing an IB business with ATFX. With excellent speakers who have an excellent command of their topics, seminars hosted by the financial services company are designed to stimulate thought and discussion, with the goal of putting that thought into practice.

Legal: ATFX is a trading name of AT Global Markets Limited (ATGM, registration number 24226 IBC 2017). ATGM is an International Business Company in Saint Vincent and the Grenadines. Registered address is: The Financial Services Centre, Stoney Ground, Kingstown, St. Vincent & the Grenadines.

 

[Kelly Yeung]

Yesterday, the British Brexit Minister resigned, and another British official also made a resignation. The market believes that they use the resignation to force the British prime minister to step down or compromise. However, it is estimated that the market is not afraid of this situation. If the Bank of England will maintain a rate hike outlook and the pound will keep rising. The most important UK economic data for the day can show growth and strengthen the UK's interest rate hike.

The United States announced that consumer credit in May has risen sharply, far exceeding market expectations and last month's figures. After the results were announced, the US stock market rose and the US dollar also rose. But tonight, the United States only released some reference data, and it is expected that the impact on the US dollar and the US Dow will not be high. It is recommended to pay attention to the economic data of Europe and China in the afternoon and the impact on the relevant currency. In addition, the current global inflation and interest rate hikes have slowed down, and the bullish the gold market can be used as a reference.

Today's suggestion:

EURUSD
1.1780/1.1800 resistance
1.1740/1.1720 support
The ECB president did not say that the pace of acceleration was increased and the euro fell slightly. Technically, if the euro keeps rebounding by 50% and the support above 1.1680, the trend is still bullish.

GBPUSD
1.3245/1.3220 support
1.3325/1.3340 resistance
Following the resignation of the Minister of Brexit, another British official also resigned last night. The British Prime Minister’s status is facing challenges and the political atmosphere has affected the pound’s decline. But you can't forget the economic data released by the Eurozone and the UK in the afternoon today. If the data is positive, bullish the pounds.

USD/CHF
0.9930/0.9950 resistance
0.9890/0.9870 support
The ECB president said that monetary policy still needs to be observed for some time, and the pace of interest rate hikes is not showing signs of speeding up, negative for the euro, and negative for the Swiss franc. However, it is expected that the performance of the Eurozone data will increase in the afternoon, and when the Euro is bullish, it will also be the same.

USD/JPY
111.10/111.30 resistance
110.75/110.60 support
After the US Dow rose, the Japanese Nikkei index followed. After the dollar broke through the resistance at 110.80 against the yen, it challenged the previous high resistance at 111.40. If the stock market adjusts to fall, the dollar against the yen has a chance to reverse.

AUDUSD
0.7425/0.7405 support
0.7485/0.7505 resistance
In the day, Australia announced the consumer confidence index, as well as business confidence and prosperity index, as well as China consumer price index. The performance of the data will affect the direction of the Australian dollar. In addition, pay attention to the trend of the copper price affecting the Australian dollar.

NZDUSD
0.6810/0.6775 support
0.6860/0.6885 resistance
In the day, Australia announced the consumer confidence index, as well as business confidence and prosperity index, as well as the China Consumer Price Index. Data performance will affect the direction of the New Zealand dollar. Technically, if the New Zealand dollar breaks through 0.6860, the upper resistance is 0.6885 and 0.6920. Conversely, below 0.6808 support, the reference support below is 0.6775 and 0.6750.

USD/CAD
1.3135/1.3155 resistance
1.3075/1.3055 support
Since the speech of the Governor of the Bank of Canada, last week, US employment data slowed down, the dollar fell, and oil prices rose, which has already stimulated the Canadian dollar to rise more than 300 points. If the Bank of Canada finally decides to raise interest rates tomorrow night, but the central bank fails to indicate that it will continue to raise interest rates, the Canadian dollar will have a chance to weaken the gains or may adjust to a decline.

EURGBP
0.8885/0.8905 resistance
0.8855/0.8835 support
The Brexit Minister and another official have resigned, and the pound fell. The euro has risen against the pound. At present, we will continue to pay attention to the development of the matter. If the new successor candidate has been completed within the day, it will change its trend.

EURCHF
1.1665/1.1685 resistance
1.1630/1.1605 support
The euro continues to be strong. The news is bullish for the EURCHF, but there is any technical adjustment risk.

XAUUSD
1256/1254 support
1264/1266 resistance
The United States may delay the rate hike, the ECB president said that he did not intend to change the monetary policy, and gold was supported. But now there must be bullish gold factors. The gold if break through the resistance and could be reach the next important resistance of 1270.

US crude oil futures:
74.25/74.75 resistance
72.60/72.20 support
OPEC and non-OPEC have reached a consensus on crude oil production and supply, and currently support the rise in oil prices. Affected by other market factors, demand for crude oil in July showed signs of tension and bullish oil prices. But you must maintain risk management and don't chase it to prevent changes.

BTCUSD:
6865 / 7020 resistance ,
6540 / 6340 support.
After the US employment data showed slow down, the Fed fund rate maybe keep unchange, then the the dollar performance downward, the bitcoin demand were increased. But keep watching the USD and US data development, it could be affected the bitcoin and other crypto currencies market trend.

The above is for reference only; the market is risky and investment needs to be cautious. Trading must included risk management! Wish Happy trading!

Information provided by ATFX, Chief Analyst of Asia Pacific: Martin Lam

Registered Australian Accountant/ Certified Professional Manager / Certified Financial
Advisor Experienced Investor / Media Market Commentator Martin Lam has Over 17 years’ experience in global investment market. Familiar with the worldwide stock indices, precious metals such Gold and Silver, Crude oil and Forex. He operated Martin Currency Trading Company and had partnership with a number of well-known international financial corporations and institutions. Before he join ATFX, he was TeleTrade Greater China development and Sales Director. Mr. Lam attends Hong Kong Now TV and China CCTV finance channel once a week. He also had regularly invited by different media, such as DBC Digital Financial Channel, Hong Kong Economic Times, The Standard, Ming Pao to share his experience to trade in Forex, Precious metals, Crude oil and worldwide stock indices.
Contact: wechat: ATFX_China

Legal: ATFX is a trading name of AT Global Markets Limited (ATGM, registration number 24226 IBC 2017). ATGM is an International Business Company in Saint Vincent and the Grenadines. Registered address is : the Financial Services Centre, Stoney Ground, Kingstown, St.Vincent & the Grenadines.

 

[Kelly Yeung]

US API crude oil inventories continued to decrease, and crude oil inventories decreased for four consecutive weeks. In addition, the oil-producing countries have a modest increase in production, and they have not been able to stop exporting crude oil because of sanctions imposed by Iran. However, with the Sino-US trade war, the US President once again expressed his intention to impose further tariffs on China's further expansion of another 200 billion US dollars of Chinese goods. The prospects for crude oil demand are uncertain, so the oil price is negative. US crude oil prices fell below $72. Also affected by the comments of the US president, the offshore RMB fell again this morning, not only completely digesting the RMB's gains yesterday, but also breaking the resistance last week. At the end of August, the US president plans to impose an additional 10% tariff on other Chinese goods, including many durable goods. The market expects that China's exports of goods to the United States will be significantly reduced, and affect the migration of domestic manufacturers. China's stock market and Hong Kong stock market both fell. It is estimated that the trade war incident will continue to ferment, and the stock market and currency in the Asian region will be negative (excluding the yen). As a safe-haven currency, it will be backed by funds, and the yen will be bullish. However, the current false inflation generated under the world trade war believes that gold does not have a safe-haven demand. And under the global central bank plan to tighten monetary policy, it will be bad for gold.

Tonight, the US announced the June production price index and wholesale sales. The market is expected to slow down and have the opportunity to influence the US dollar. In addition, the Bank of Canada is meeting interest rates tonight, and the market has already expected a rate hike of 0.25%. If the central bank raises interest rates in line with expectations, and the central bank does not indicate that it will continue to raise interest rates, it will be negative for the Canadian dollar.

Today's suggestion:

EURUSD
1.1750/1.1770 resistance
1.1720/1.1700 support
The ECB president did not say that it would speed up the pace, lower the expectation of the euro to raise interest rates, and bearish the euro. Technically, if the euro keeps rebounding by 50% and the support of 1.1680 is above the trend, the trend is still bullish. It is worth noting whether it can maintain important support.

GBPUSD
1.3235/1.3205 support
1.3295/1.3320 resistance
The Brexit issue has been repeated and there has been news that the British Brexit Minister has resigned, forcing the British Prime Minister to step down. But after rumors of digestion, the pound rose again. It is believed that the UK's interest rate and the Brexit White Paper will remain positive before the completion of the White Paper on the beginning of next month.

USD/CHF
0.9930/0.9950 resistance
0.9890/0.9870 support
If the US economic data is weak, when it is bullish, it will also benefit the Swiss franc. At the moment, we are concerned about the trend of the euro and the change in the Swiss franc.

USD/JPY
111.10/111.30 resistance
110.55/110.30 support
The dollar against the yen challenged the previous high resistance 111.40 again failed. Another stock market adjustment fell, the dollar against the yen trend as reversed yesterday, the trend may continue to fall, short-term target to 110.30.

AUDUSD
0.7425/0.7445 resistance
0.7385/0.7365 support
As mentioned yesterday, keep an eye on the trend of the copper price affecting the Australian dollar. At present, the United States plans to add additional tariffs to China, causing the Chinese renminbi to fall again, and copper prices also fall, all of which are negative for the Australian dollar. The depth remains to be seen.

NZDUSD
0.6820/0.6845 resistance
0.6775/0.6750 support
The Sino-US trade war has once again warmed up, and the currencies of the Asia-Pacific region are bearish. If the New Zealand dollar falls below the support of 0.6808, the reference support below is 0.6775 and 0.6750. The actual depth remains to be seen.

USD/CAD
1.3115/1.3075 support
1.3175/1.3190 resistance
If the Bank of Canada finally decides to raise interest rates tonight , but the central bank fails to say that it will continue to raise interest rates, the Canadian dollar will have a chance to weaken the gains or may adjust to a decline. In addition, oil price performance affects the development of the Canadian dollar.

EUR/GBP
0.8865/0.8885 resistance
0.8825/0.8805 support
At present, we will continue to pay attention to whether the development of the Brexit negotiations will boost the pound. If the pound continues to weaken, the euro will continue to decline against the pound.

EURCHF
1.1665/1.1685 resistance
1.1630/1.1605 support
The euro continues to be strong. The news is bullish for the euro against the Swiss franc, and the euro is expected to have a downward adjustment to the Swiss franc.

XAUUSD
1254/1256 resistance
1246/1244 support
In addition to the warming of the Sino-US trade war, the market is worried about rising global inflation, which has led to an increase in interest rate hikes. Investment chooses other interest-earning products to hedge rather than choose gold, gold is under pressure and bearish gold. If the Sino-US trade war continues to ferment, it will only be bad for gold. Only when the US economic data is weak, when the US dollar falls, gold will have a chance to rebound.

US crude oil futures:
73.25/73.75 resistance
71.60/71.20 support
The risk of upgrading the Sino-US trade war has increased, and the demand for crude oil has decreased, which has led to pressure on crude oil prices. In short-term $71 could be a support but $74 could be resistance.

BTCUSD:
6565 / 6820 resistance ,
6240 / 6040 support.
After the US employment data showed slow down, the Fed fund rate maybe keep unchange, then the the dollar performance downward, the bitcoin demand were increased. But keep watching the USD and US data development, it could be affected the bitcoin and other crypto currencies market trend.

The above is for reference only; the market is risky and investment needs to be cautious. Trading must included risk management! Wish Happy trading!

Information provided by ATFX, Chief Analyst of Asia Pacific: Martin Lam

Registered Australian Accountant/ Certified Professional Manager / Certified Financial Advisor Experienced Investor / Media Market Commentator Martin Lam has Over 17 years’ experience in global investment market. Familiar with the worldwide stock indices, precious metals such Gold and Silver, Crude oil and Forex. He operated Martin Currency Trading Company and had partnership with a number of well-known international financial corporations and institutions. Before he join ATFX, he was TeleTrade Greater China development and Sales Director. Mr. Lam attends Hong Kong Now TV and China CCTV finance channel once a week. He also had regularly invited by different media, such as DBC Digital Financial Channel, Hong Kong Economic Times, The Standard, Ming Pao to share his experience to trade in Forex, Precious metals, Crude oil and worldwide stock indices.
Contact: wechat: ATFX_China

Legal: ATFX is a trading name of AT Global Markets Limited (ATGM, registration number 24226 IBC 2017). ATGM is an International Business Company in Saint Vincent and the Grenadines. Registered address is : the Financial Services Centre, Stoney Ground, Kingstown, St.Vincent & the Grenadines.

 

[Kelly Yeung]

ATFX is delighted to announce the addition of two key executive to its Middle East office. Ramy Salah Mohamed Abouzaid will be joining the financial services company as its Financial Market Strategist for the Middle East, with Reem Rabia joining as a Marketing Manager. Both have more than a decade of experience in the financial markets.


Prior to joining ATFX, Mr. Abouzaid served as the Chief Market Analyst for a large-scale forex company in the UAE, where he was responsible for helping clients remain updated regarding market developments, including regulatory changes. Mr. Abouzaid said, “I think my experience can help me gain a keen understanding of factors influencing market movements in the Middle East. I will share my knowledge with others through my writings on a variety of professional financial news sites and provide education to Middle Eastern clients regarding Forex trading in the future.”


“I thrive on keeping up with the latest in marketing as it pertains to the FX industry” said Mrs. Rabia of her appointment, and given she is a seasoned marketing professional who has progressed through key positions in sales, advertising, communications, and marketing, she has played a key role in building marketing teams within technology companies, financial services companies, and more recently in FX, adding that “with my integrated marketing experience and skill sets, I am confidence we can capitalize on the ATFX brand as we innovate and grow.” She will be responsible for executing market strategies and tactics that drive growth and improve the overall brand development and message in the GCC and the wider Middle Eastern market.


ATFX stated that having Mr. Abouzaid and Mrs. Rabia on board was an important achievement for the company, since it furthered the company’s commitment to providing tailored, localised, multilingual services to its clients across the world, and ensured that its local teams had at least a decade of experience in the regional financial markets. ATFX carefully handpicks its international team of highly skilled and experienced financial professionals.


Commenting on the appointment of Mr. Abouzaid and Mrs. Rabia, the company stated, “We are delighted that Ramy and Reem are bringing their vast experience to our team. They will be an asset for us, with the experience from both contributing deeply to ATFX.”

ATFX attained its license from the Abu Dhabi Global Market (ADGM) earlier in April and is now regulated by the FSRA (Financial Services Regulatory Authority) in the Middle East. This was a milestone for the company, which believes in providing fully compliant and regulated services for the safety of its clients across the globe.


Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA)

Financial Services Permission Number: 170006

 

[Kelly Yeung]

The United States will release important inflation data tonight, the market also focus is on the afternoon of the euro zone to announce CPl and industrial output. Most importantly, the market expects the US Consumer Price Index (CPI) to come up with expectations and maintain the Fed’s rate hike. Because, last night, Fed officials pointed out that US inflation remained strong, indicating that the Fed can maintain the pace of interest rate hikes and bullish dollars. But if the US CPl and US real income showed to slow down, the market will change attitudes and bearish dollars. In addition, the US employment data and wage data were released at the beginning of the month, and there was no significant improvement. The US data has an opportunity to slow down tonight, which will be negative for the US dollar.

Today's suggestion:

Euro against the dollar
1.1650/1.1630 support
1.1705/1.1725 resistance
In the afternoon, the euro zone announced CPl and industrial output, and focus on the US CPl and US real income at night. If the US economic data only meets expectations and affects the dollar's decline, it may boost the euro. In the evening, the European Central Bank announced the minutes of the June monetary policy meeting, which may affect the short-term changes in the euro.

GBPUSD
1.3165/1.3145 support
1.3225/1.3240 resistance
In Short-term observations of the performance of the Eurozone data in the afternoon and the performance of important US economic data at night. If the US CPl and US real income only meet expectations in the evening, affecting the dollar's decline, it may boost the pound.

USDCHF
0.9970/0.9990 resistance
0.9920/0.9900 support
If the US economic data is weak, it will be more euros. If the US CPl and US real income only meet expectations in the evening, affecting the dollar's decline, the dollar will have a chance to fall against the Swiss franc.

USD/JPY
111.90/111.70 support
112.55/112.70 resistance
The trade war has caused funds to flow into US bonds, and the dollar has risen. China was threatened by trade wars, Asian currencies were under pressure, the yen failed to become a safe-haven asset, and the yen fell. Currently, the Nikkei is similar to the US dollar against the yen.

AUDUSD
0.7395/0.7425 resistance
0.7355/0.7335 support
Sino-US trade frictions bring hidden dangers to the international economy and trade. The decline of the Chinese RMB and the fall in copper prices are all negative for the Australian dollar, and the depth remains to be seen. In the short term, it may follow Chinese RMB and copper trend to forecast AUD.

NZDUSD
0.6775/0.6805 resistance
0.6720/0.6708 support
The US president’s plan to impose additional tariffs on Chinese goods has not only triggered a sharp fall in the Chinese RMB. Yesterday, the Asia-Pacific stock market, currency and commodity prices all fell, the New Zealand dollar was also dragged down. It is necessary to pay attention to the impact of the RMB on the New Zealand dollar. Conservative estimates, the New Zealand dollar is likely to support 0.6708 next.

USD/CAD
1.3190/1.3175 support
1.3275/1.3290 resistance
The Bank of Canada raised interest rates last night, but the central bank failed to say that it will continue to raise interest rates, weakening the gains or, as expected, there is an adjustment decline. In addition, the impact of oil price performance on the development of the Canadian dollar and the fall in oil prices may cause the Canadian dollar to continue its decline.

EUR/GBP
0.8860/0.8875 resistance
0.8818/0.8805 support
At present, we will continue to pay attention to whether the development of the Brexit negotiations will boost the pound. If the pound continues to weaken, the euro will continue to decline against the pound. Note the two short-term support levels of 0.8818/0.8805.

EURCHF
1.1660/1.1705 resistance
1.1620/1.1605 support
The euro is stronger than the Swiss franc and it is expected that the euro will continue to adjust its downside against the Swiss franc. If it breaks through 1.1660, the uptrend is complete. And below 1.1605, the trend is a destructive upward trend.

XAUUSD
1247/1249 resistance
1240/1238 support
In addition to the warming of the Sino-US trade war, the market is worried that global fake inflation will be expected to occur, and it may also lead to capital inflows into interest-earning products to hedge -bonds, rather than choose gold, which will bearish gold. If the Sino-US trade war continues to ferment, it will only be bearish gold. Only when the US economic data is weak, when the dollar falls, gold has a chance to rebound. Note the US CPl and real income results tonight. The data will affect the gold price change.

US crude oil futures:
71.25/71.55 resistance
70.10/69.75 support
The risk of escalating trade war between China and the United States increased, and the demand period for crude oil began to end, which led to pressure on crude oil prices, which caused oil prices to fall below $71. In addition, the OPEC and non-OPEC agreement is expected to increase production to 2.5 million barrels. It is expected that before the winter season, the oil price pressure is expected to be large, and the opportunity to test 68 US dollars a barrel.

BTCUSD:
6565 / 6820 resistance ,
6240 / 6040 support.
After the US employment data showed slow down, the Fed fund rate maybe keep unchange, then the the dollar performance downward, the bitcoin demand were increased. But keep watching the USD and US data development, it could be affected the bitcoin and other crypto currencies market trend.

The above is for reference only; the market is risky and investment needs to be cautious. Trading must included risk management! Wish Happy trading!


Information provided by ATFX, Chief Analyst of Asia Pacific: Martin Lam

Registered Australian Accountant/ Certified Professional Manager / Certified Financial
Advisor Experienced Investor / Media Market Commentator Martin Lam has Over 17 years’ experience in global investment market. Familiar with the worldwide stock indices, precious metals such Gold and Silver, Crude oil and Forex. He operated Martin Currency Trading Company and had partnership with a number of well-known international financial corporations and institutions. Before he join ATFX, he was TeleTrade Greater China development and Sales Director. Mr. Lam attends Hong Kong Now TV and China CCTV finance channel once a week. He also had regularly invited by different media, such as DBC Digital Financial Channel, Hong Kong Economic Times, The Standard, Ming Pao to share his experience to trade in Forex, Precious metals, Crude oil and worldwide stock indices.
Contact: cs.gm@atfx.com or wechat: ATFX_China


Legal: ATFX is a trading name of AT Global Markets Limited (ATGM, registration number 24226 IBC 2017). ATGM is an International Business Company in Saint Vincent and the Grenadines. Registered address is : the Financial Services Centre, Stoney Ground, Kingstown, St.Vincent & the Grenadines.

 

[Kelly Yeung]

The United States announced US employment data and wage data at the beginning of the month. There was no significant improvement. The market once worried that the US data had a chance to slow down. In the end, the real income of the United States CPl is in line with expectations, and there is no slowdown. The market will continue to reveal economic data.

In the morning, China’s trade accounts and import and export figures were released in the morning, keeping an eye on the rising figures, which helped to predict China’s second quarter GDP data next Monday, and predict the Chinese yuan trend.

In the evening, the US announced the Import and Export Price Index and the University of Michigan Consumer Confidence Index and other reference data. Currently estimated in the Eurozone data, the University of Michigan Consumer Confidence Index has the opportunity to show outstanding performance, it can be bullish dollars, bearish gold and other currencies before the announcement. Subsequent US economic data is for reference only.

Today's suggestion:

EURUSD
1.1650/1.1630 support
1.1705/1.1725 resistance
Currently estimated in the Eurozone data, the University of Michigan consumer confidence index has the opportunity to show outstanding performance, Before the US data was released, the euro was subject to 1.17 resistance.

GBP USD
1.3165/1.3145 support
1.3225/1.3240 resistance
Currently estimated in the Eurozone data, the University of Michigan Consumer Confidence Index has the opportunity to show outstanding performance, Before the US data was released, the pound was subject to 1.3240 resistance.

USDCHF
1.0040/1.0060 resistance
0.9990/0.9970 support
The dollar is strong and the European currency is weak. Currently, the Eurozone data is generally estimated. The University of Michigan Consumer Confidence Index has an opportunity to show outstanding performance. It is believed that the Swiss franc is weak before the US data is released.

USD/JPY
112.30/112.00 support
112.70/113.00 resistance
The trade war has caused funds to flow into US bonds, and the dollar has risen. At present, note that the Nikkei is similar to the USD/JPY trend. USD/JPY is paying attention to the important resistance at 113. Be careful to reverse the risk.

AUDUSD
0.7425/0.7450 resistance
0.7385/0.7365 support
The Chinese renminbi rose and the Australian dollar followed suit. However, attention to US data tonight and US data on Monday is expected bullish USD and it is estimated that the AUD will be limited below the resistance.

NZDUSD
0.6805/0.6825 resistance
0.6760/0.6745 support
The Chinese renminbi continues to rise and it is estimated that the NZD can be further boosted. But at night, pay attention to the US data and the US data on Monday. It is estimated that the US dollar will be bullish and the New Zealand dollar will be limited below resistance.

USD/CAD
1.3140/1.3125 support
1.3205/1.3235 resistance
In the evening, Canada’s existing home sales were announced, and data is expected to rise, with a bullish Canadian dollar. However, the Canadian dollar may fall after the results are announced. Pay special attention to oil price performance.

EUR/GBP
0.8860/0.8875 resistance
0.8818/0.8805 support
At present, we will continue to pay attention to whether the development of the Brexit negotiations will boost the pound. If the pound continues to weaken, the euro will continue to decline against the pound. Note the two short-term support levels of 0.8818/0.8805.

EURCHF
1.1705/1.1735 resistance
1.1670/1.1655 support
The euro is strong against the Swiss franc, breaking through the 1.1660, a complete development trend. However, pay attention to breaking the support level and be careful about the deep development of the trend. Trading must included risk management.

XAUUSD
1251/1253 resistance
1244/1242 support
The US CPl and real income results are only in line with expectations. The Fed’s rate hike is lower. The US announced retail sales data next Monday, which also affects gold changes.

US crude oil futures:
69.75/70.55 resistance
68.10/67.55 support
The risk of escalating trade war between China and the United States increased, and the demand period for crude oil began to end, which led to pressure on crude oil prices, which caused oil prices to fall below $71. In addition, the oil and non-oil group agreement is expected to increase production to 2.5 million barrels. It is estimated that the oil price pressure is very high and there is a chance to test $68 a barrel.

BTCUSD:
6565 / 6820 resistance ,
6140 / 6040 support.
The market keep watching the USD and US data development, it could be affected the bitcoin and other crypto currencies market trend. If it cannot find any good data from US, the bitcoin may ready to up.

The above is for reference only; the market is risky and investment needs to be cautious. Trading must included risk management! Wish Happy trading!


Information provided by ATFX, Chief Analyst of Asia Pacific: Martin Lam

Registered Australian Accountant/ Certified Professional Manager / Certified Financial
Advisor Experienced Investor / Media Market Commentator Martin Lam has Over 17 years’ experience in global investment market. Familiar with the worldwide stock indices, precious metals such Gold and Silver, Crude oil and Forex. He operated Martin Currency Trading Company and had partnership with a number of well-known international financial corporations and institutions. Before he join ATFX, he was TeleTrade Greater China development and Sales Director. Mr. Lam attends Hong Kong Now TV and China CCTV finance channel once a week. He also had regularly invited by different media, such as DBC Digital Financial Channel, Hong Kong Economic Times, The Standard, Ming Pao to share his experience to trade in Forex, Precious metals, Crude oil and worldwide stock indices.
Contact: cs.gm@atfx.com or wechat: ATFX_China



Legal: ATFX is a trading name of AT Global Markets Limited (ATGM, registration number 24226 IBC 2017). ATGM is an International Business Company in Saint Vincent and the Grenadines. Registered address is : the Financial Services Centre, Stoney Ground, Kingstown, St.Vincent & the Grenadines.

 

[Kelly Yeung]

Last night, Federal Reserve Chairman Powell attended the hearing. He said that the US economy has maintained strong economic growth in the first half of the year and welcomed the Fed’s continued “gradual” rate hike, which is a hawkish remark. Although the speech did not indicate the time to raise interest rates, the market generally expects that the Fed will keep interest rates unchanged on the day of the August 1 interest rate decision, and the interest rate hike will reach 80% in September. Then evaluate the rate of interest rate hikes in December.

The Fed is moving towards a rate hike, but the US has implemented multiple trade protection since June. Whether the United States can achieve its desired goals and keep economic growth strong is still unknown. The economy will still be challenged in the second half of the year. When investing, we must pay attention to the outlook and performance of each economic data, grasp the actual experience and grasp the changes in the market.

Today the market focuses on European currencies. At 16:30 pm, the UK released inflation data such as the June Consumer Price Index (CPl) and the Retail Price Index. The performance of the data will have an impact on the UK retail sales data for June, and will also have an impact on UK interest rate resolutions. In addition, the Eurozone announced the Consumer Price Index (CPl) and construction output in June, and the data also reflected the inflation and monetary policy orientation in the Eurozone. Focusing on US ElA crude oil inventory data in the evening will affect the development of crude oil prices. Finally, it is recommended to pay attention to the 2:00 am tomorrow morning, the Federal Reserve announced the economic situation "Beige Book", the report content can truly reflect the performance of the US economy. For the performance of the US stock market, the dollar trend and commodity prices have an important impact.

Today's suggestion:

EURUSD
1.1645/1.1625 support
1.1685/1.1705 resistance
The Fed chairman’s speech has a stimulating effect on the US dollar and indirectly affects the decline in Europe and the United States. In the afternoon, if the Eurozone CPl sees growth, it is expected to benefit more euros. If the short-term euro remains above 1.1645 and 1.1625, the euro may have a chance to test 1.17. The "Beige Book" of the United States tomorrow morning will show the impact of the economy and US dollar.

GBPUSD
1.3100/1.3075 support
1.3165/1.3190 resistance
The Bank of England’s president’s speech and the UK’s employment data failed to support the further rise of the pound. The most important speech of the Fed chairman, the dollar rebounded and the pound fell. In the next two days, the UK will release inflation data and retail sales respectively. If the data is stable, it will help to strengthen the pound to develop above 1.3100. The "Beige Book" of the United States tomorrow morning will show the impact of the economy and US dollar.

USDCHF
1.0005/1.0035 resistance
0.9960/0.9930 support
The speech of the chairman of the Federal Reserve Board raised the market's interest rate hike in the United States. The dollar rose and the Swiss franc fell. If the US "Beige Book" will show the economic, production and employment market conditions tomorrow morning, if the slowdown can lead to a fall in the US dollar, the Swiss franc up. By technically, the Swiss franc will continue to follow the direction and pace of the euro.

USD/JPY
113.10/113.30 resistance
112.70/112.50 support
The Fed’s president’s hawkish remarks appeared, and the dollar was bullish and the yen was dropped. The dollar rose to a six-month high against the yen, and the rise in the Nikkei is one of the reasons. However, if the US "Beige Book" shows a slowdown in the overall US market tomorrow, the US dollar and the US Dow fell, and the USD/JPY has the opportunity to follow the decline.

AUDUSD
0.7375/0.7360 support
0.7420/0.7440 resistance
Affected by the speech of the chairman of the Federal Reserve Board, the Australian dollar was dropped. The comments of the Chairman of the Federal Reserve Board, the market has gradually digested the impact and the trend has increased. It is necessary to pay attention to the "Beige Book" to show the impact of the US dollar.

NZDUSD
0.6770/0.6755 support
0.6805/0.6825 resistance
In the second quarter of New Zealand, CPl maintained a growth of the New Zealand dollar. Affected by the speech of the chairman of the Federal Reserve Board, the New Zealand dollar fell. After the adjustment, the New Zealand dollar re-established support and the positive the New Zealand dollar.

USD/CAD
1.3175/1.3155 support
1.3225/1.3245 resistance
This morning, the APl crude oil inventories increased. It is expected that ElA crude oil inventories will increase tonight and will continue to be negative for the Canadian dollar. But we must pay attention to the US "Beige Book" tomorrow morning to show the impact of the US dollar and the trend of Canadian dollar.

EUR/GBP
0.8905/0.8925 resistance
0.8875/0.8860 support
The euro rebounded against the pound, mainly due to market expectations that Bank of England Governor Carney is about to speak and important economic data for the next two days. The market has gradually digested. If the performance of the UK and Eurozone data in the afternoon is only in line with market expectations, it is believed that the EUR/GBP will adjust to decline.

EURCHF
1.1680/1.1700 resistance
1.1645/1.1635 support
Technically, the short-term movement of the euro against the Swiss franc has doubled and weakened, and the euro may have a chance to adjust against the Swiss franc. If the adjustment is expanded, the target can be tested at 1.1620.

XAUUSD
1222/1220 support
1230/1232 resistance
The speech of Federal Reserve Chairman Powell led the market to estimate that the Fed tightened its monetary policy, was short of gold, and was bearish on the expectations of the medium and long-term trend. Fortunately, the Fed is not in a hurry to raise interest rates next month, and short-term gold may have a chance to rebound. Pay attention to the US “Beige Book” report tomorrow morning at 2am, which will affect the US dollar. If the report shows a the overall market slowdown, gold has a conditional rebound.

US crude oil futures:
68.40/68.75 resistance
67.05/66.65 support
The US EIA crude oil inventory report will be released tonight . If the inventory is shown to be falling as same as API last night, over supply will affected decreasing the price of oil.

BTCUSD:
7540 / 7740 resistance
7050 /6820 support
As mentioned The Fed chairman Powell speech to deliver semi-annual testimony, the sentiment changed and transferred to crypto currencies investment. The Bitcoin broke the resistance at 6820 and reached 7388 last night. Now the bitcoin maybe keep 7050 support and keep the trend upward.

The above is for reference only; the market is risky and investment needs to be cautious. Trading must included risk management! Wish Happy trading!

Information provided by ATFX, Chief Analyst of Asia Pacific: Martin Lam

Registered Australian Accountant/ Certified Professional Manager / Certified Financial
Advisor Experienced Investor / Media Market Commentator Martin Lam has Over 17 years’ experience in global investment market. Familiar with the worldwide stock indices, precious metals such Gold and Silver, Crude oil and Forex. He operated Martin Currency Trading Company and had partnership with a number of well-known international financial corporations and institutions. Before he join ATFX, he was TeleTrade Greater China development and Sales Director. Mr. Lam attends Hong Kong Now TV and China CCTV finance channel once a week. He also had regularly invited by different media, such as DBC Digital Financial Channel, Hong Kong Economic Times, The Standard, Ming Pao to share his experience to trade in Forex, Precious metals, Crude oil and worldwide stock indices.
Contact: cs.gm@atfx.com or wechat: ATFX_China


Legal: ATFX is a trading name of AT Global Markets Limited (ATGM, registration number 24226 IBC 2017). ATGM is an International Business Company in Saint Vincent and the Grenadines. Registered address is : the Financial Services Centre, Stoney Ground, Kingstown, St.Vincent & the Grenadines.

 

[Kelly Yeung]

The established online trading brokerage continues to concentrate its efforts on Southeast Asia, including countries such as Taiwan, Thailand, Malaysia, the Philippines, and Vietnam. And following a successive start to 2018 that included hosting seminarsacross the region, ATFX has continued its principled commitment of educating its traders and IBs by conducting a series of seminars in Southeast Asia. The sessions are free and educate its participants about alternative investment options and how to go about putting that knowledge into practice.


ATFX’s first seminar in Vietnam was held on the 22 of July and was exclusively tailored to both new and veteran trader and IBs, where close to 15 traders and IBs – attended.Mr. Jason Tee, ATFX’s Southeast Business Development Manager, discussed matters crucial to the IB business realm including how to operate a successful IB business with a global partner that is highly established in Southeast Asia, market opportunities in multi-asset trading, and strategic partnerships.


Mr. Martin Lam, ATFX’s Chief Analyst for the Asia Pacific region, who has over 18 years of experience in the FX market.His topic was titled “Learn the basics of risk management and how to apply into your trading plan”. This topic was of an introductory nature, explaining the FX market, avoiding the usual pitfalls that could lead to losses with effective risk management tools, and the latest market trends.


Mr. Van Cong An, Sales Manager of Vietnam officealso discussed at the seminar was the importance of B2B partnerships across the Southeast Asia region,and how brokerages can support large-scale IBs and introduce the latest promotion program which is tailor-made for IBs.


ATFX received much positive feedback from the traders and IBs and the expanding network built with them. One of the IBs stated that “It’s Excellent, it gave me a greater understanding of how to be a good IB partner and work with their business. I would definitely recommend ATFX’s seminar.”


The recent series of seminars are in line with ATFX’s belief that such training will provide traders and IBs with enough knowledge to make proper decisions, and increase their skill sets such that overcoming any hurdles in trading the financial markets will be done with greater ease. The leading financial company is set to continue holding regular seminars for the remainder of 2018.


Legal: ATFX is a trading name of AT Global Markets Limited (ATGM, registration number 24226 IBC 2017). ATGM is an International Business Company in Saint Vincent and the Grenadines. Registered address is:The Financial Services Centre, Stoney Ground, Kingstown, St.Vincent & the Grenadines.

 

[Kelly Yeung]

Personal insight today:

This morning, Australia and Japan announced local economic data. The Australian ANZ Consumer Confidence Index fell to 118.9, lower than the previous value of 121.5. Japan’s manufacturing purchasing managers’ index fell to 51.6 in July from 53 last month. In the afternoon, Japan’s leading indicators and synchronization index were released, and the estimated figures were flat. In addition, the data were lagging data, and the data was difficult to resist the impact of the recent weak economic data. During the European market, Germany, the Eurozone and the UK announced July manufacturing and industrial data, respectively. Since the beginning of July, the United States has implemented tariff policies on major manufacturing industries and industrial raw materials such as steel and aluminum in Europe, which will inevitably affect the development of the industry. Therefore, the market expects data to be lower than the June figure. Therefore, the performance of the euro and the British pound exchange rate has been reflected yesterday. If the results are far below market expectations, European currencies have a chance to fall further. Of course, the economic data released by the US at night should also be noted. The same data appears to be slowing down, and the dollar will be short-lived. Attention should be paid to the investment, the market expects no surprise on the ECB's interest rate decision on Thursday and the US second-quarter GDP preliminary data forecast on Friday rose sharply. These factors will be bullish for the dollar, suppressing the entire line against the dollar currency. And it is also bearish for gold and silver prices.

Today's suggestion:

EURUSD
1.1700/1.1720 resistance
1.1660/1.1640 support
The European Central Bank will hold a regular meeting on Thursday. The recent European economic data is unremarkable and is expected to weaken. In addition, the market expects the US to announce a sharp rise in the initial value of GDP in the second quarter, which is generally negative for the euro. If the non-European central bank publishes favorable speech stimulus, or the US dollar has bad news, the short-term euro trend will downward.

GBPUSD
1.3130/1.3150 resistance
1.3065/1.3045 support
There is no good news for the UK to negotiate with the EU. The UK economic data is expected to be weak and it is difficult to stimulate the pound. The market expects the second quarter GDP growth in the United States to be strong, will maintain a bullish dollar until the announcement of the results, the short-term pound will have a chance to further downward. The current target support level is for reference only.

USDCHF
0.9915/0.9900 support
0.9955/0.9970 resistance
The market is predicting that the US second-quarter GDP will perform strongly, with a bullish dollar. As the euro falls, the Swiss franc will have a chance to fall, and the dollar against the Swiss franc will likely continue to rise. The current target resistance level can only be used as a reference.

USD/JPY
111.05/110.85 support
111.50/111.70 resistance
USD/JPY has hit the resistance target last night because the market has digested the comments of the US president earlier, focusing on economic data. In addition, as expected yesterday, the market believes that the initial GDP growth of the second quarter of the United States is strong, and the dollar will have a chance to be suppressed. In addition, compared with the Japanese economic data, it is estimated that the yen is still bearish in the short term.

AUDUSD
0.7405/0.7415 resistance
0.7375/0.7365 support
The dollar rebounded, and this morning Australia's ANZ consumer confidence index fell to 118.9, lower than the previous value of 121.5. The Australian dollar has fallen to the expected target of 0.7365 against the US dollar. However, the market expects Australia's second-quarter consumer price index CPl to rise to 2.2% tomorrow, 0.3% higher than the previous value of 1.9%, and will also announce the number of skilled workers vacancies. It is estimated that the Australian dollar will still be bullish before the results are announced. But you must pay attention to two points, first, resistance of 0.7415. The second is that the trend of Chinese offshore renminbi will affect the performance of the Australian dollar.

NZDUSD
0.6805/0.6820 resistance
0.6770/0.6750 support
Australia and New Zealand will release important economic data tomorrow. The market expects data growth, bullish New Zealand dollar. However, it must be noted that the trend of Chinese offshore RMB will affect the performance of the New Zealand dollar.

USD/CAD
1.3155/1.3135 support
1.3195/1.3215 resistance
Affected by the US dollar, the decline in oil prices has affected the performance of the Canadian dollar. The dollar rebounded against the Canadian dollar and has reached its target of 1.3165. There is no economic data released in short-term Canada, and it is believed that the Canadian dollar continues to be affected by the trend of the US dollar and the development of oil prices. And technically, the performance of the US dollar against the Canadian dollar is still on the rise.

EUR/GBP
0.8930/0.8945 resistance
0.8900/0.8875 support
The euro and the pound fell as the dollar strengthened, and the pound fell more than the euro. Technically, the euro has fallen below 0.8935 against the pound, initially confirming that the trend has reversed and has become an important resistance. Technically, the first support target is at 0.8900 or the next lower level to 0.8875.

EURCHF
1.1620/1.1630 resistance
1.1585/1.1565 support
As analyzed last week and yesterday, the euro against the Swiss franc will be tested to support 1.1620 and 1.1605. The current situation continues, and look forward the lower level support can refer to 1.1585 and 1.1565.

XAUUSD
1224/1227 resistance
1218/1215 support
After the US president suppressed the dollar's rising momentum, gold showed another short-selling. US monetary policy tends to tighten, and the market believes that the US economy is accelerating and bearish gold. The technical trend is still maintaining a downward trend.

US crude oil futures:
68.10/68.45 resistance
67.45/66.85 support
It is currently estimated that the oil price continues to be high and is over value above 68.45 US dollars. The most important fundamentals are bearish oil prices, with preliminary estimates of 67.45 and 66.85 short-term support. But we must pay attention to the results of tomorrow's API and EIA crude oil inventories and the impact on oil prices.

BTCUSD:
7670 / 7840 resistance
7250 /7020 support
The US president’s remarks have suppressed the dollar’s rise, and after the remarks, the Bitcoin broke the resistance at 7550, the trend should be upward. However, 7670 and 7840 as a very strong resistance area. If the resistance can not over again in short term, it maybe reverse.

The above is for reference only; the market is risky and investment needs to be cautious. Trading must included risk management! Wish Happy trading!

The above is for reference only; the market is risky and investment needs to be cautious. Trading must included risk management! Wish Happy trading!


Information provided by ATFX, Chief Analyst of Asia Pacific: Martin Lam

Registered Australian Accountant/ Certified Professional Manager / Certified Financial
Advisor Experienced Investor / Media Market Commentator Martin Lam has Over 17 years’ experience in global investment market. Familiar with the worldwide stock indices, precious metals such Gold and Silver, Crude oil and Forex. He operated Martin Currency Trading Company and had partnership with a number of well-known international financial corporations and institutions. Before he join ATFX, he was TeleTrade Greater China development and Sales Director. Mr. Lam attends Hong Kong Now TV and China CCTV finance channel once a week. He also had regularly invited by different media, such as DBC Digital Financial Channel, Hong Kong Economic Times, The Standard, Ming Pao to share his experience to trade in Forex, Precious metals, Crude oil and worldwide stock indices.
Contact:wechat: ATFX_China



Legal: ATFX is a trading name of AT Global Markets Limited (ATGM, registration number 24226 IBC 2017). ATGM is an International Business Company in Saint Vincent and the Grenadines. Registered address is : the Financial Services Centre, Stoney Ground, Kingstown, St.Vincent & the Grenadines.

 

[Kelly Yeung]

For two consecutive days, the US economic data has been mild and has not seen strong strength, but the US dollar is still dominated by the current situation. The US dollar index remained at a high level for the year, with the euro and the pound, which represent the major US dollar index, at a low level for the year. New Zealand and Australia announced important economic data this morning. The earliest announced New Zealand trade credit record in June was a deficit, breaking the surplus figures for the past two months and the prospect of a negative New Zealand dollar. Fortunately, consumer prices in Australia have risen and the Australian dollar has risen, indirectly supporting the New Zealand dollar. In the next two days, there are still other Australian data released. The market pays close attention to the overall economic development of the Australian dollar and evaluates the Reserve Bank of Australia's interest rate next month.

In the afternoon, economic data was released in Europe. Among them, the German business climate index and the euro zone money supply data are the most worthy of reference, I believe it will make a forward-looking reference for the European Central Bank's monetary policy on Thursday. In addition, the UK announced retail sales gap in the evening, if the figure is lower than expected, it will undoubtedly affect the exchange rate of the pound. Finally, the US EIA announced the amount of crude oil inventories, which has further implications for oil prices.

Investors are worth noting that the market expects the ECB's interest rate decision on Thursday to keep interest rates unchanged and Friday's second-quarter GDP preliminary data forecast rose sharply to 4%. These factors, before the results were announced, were estimated to be bullish dollars, and the negative was all against the dollar currency. And it is also bad for gold and silver prices.

Today's suggestion:

EURUSD
1.1700/1.1720 resistance
1.1660/1.1640 support
The European Central Bank will hold a regular meeting on Thursday. For European economic data, the chances of tightening monetary policy are extremely low. If the Eurozone data shows improving, the trend should keep downward. Technically, the resistance is above 1.1700.

GBPUSD
1.3150/1.3165 resistance
1.3085/1.3070 support
After the British pound recently rose to 1.3150 resistance, there is still not breakthrough. The fundamentals have not seen outstanding performance, and the space for further improvement is still limited. Technically, the pound rebounded 61.8% against the US dollar and the position was 1.3165. If the breakthrough, the next level of resistance is 1.3205. Conversely, the support below is 1.3085 and 1.3070 respectively.

USDCHF
0.9915/0.9900 support
0.9955/0.9970 resistance
In the afternoon, Switzerland announced the July investor confidence index. In general, the data has very little impact. Investors can refer to changes in the US dollar and focus on the impact of the performance of the Eurozone data on the Swiss franc.

USD/JPY
111.15/111.05 support
111.50/111.70 resistance
The dollar has changed against the yen, and it can refer to fundamentals, such as the Japanese Nikkei and the US. Technically, the short-term USD/JPY will rise from 110.75, and the rebound wave can refer to 111.70. If the USD/JPY remains above 111.05, the technical representative has the opportunity to test the above target. But it must put stop loss to protect the strategic.

AUDUSD
0.7425/0.7445 resistance
0.7375/0.7365 support
Yesterday Australia's ANZ consumer confidence index fell to 118.9. But Australia's second quarter consumer price index CPl reported up to 2.1%, higher than the previous value of 1.9%. However, the number of vacancies in skilled workers in Australia has fallen, one positive and one negative, offset each other. The market outlook, the strong US dollar data growth forecast and the decline of the Chinese renminbi, is also a bearish Australian dollar.

NZDUSD
0.6810/0.6820 resistance
0.6770/0.6750 support
The Australian dollar and Chinese offshore renminbi momentum will indirectly affect the performance of the New Zealand dollar. Technically, the New Zealand dollar against the US dollar was affected by the resistance at the beginning of the week at 0.6823, and the short-term trend is still negative. If the US economic data is weak or other news is stimulated, the resistance can break through.

USD/CAD
1.3135/1.3115 support
1.3185/1.3200 resistance
US API crude oil inventories decreased, supporting the rebound in oil prices. In addition, progress in North American trade negotiations is one of the reasons for supporting the rise of the Canadian dollar. Still need to observe other news and comparison of US and Canadian data. Technically, the US dollar against the Canadian dollar in the 1.1315 range, rebounded after repeated support. If it fails to fall below, it represents a rebound in the US dollar against the Canadian dollar.

EUR/GBP
0.8900/0.8915 resistance
0.8875/0.8860 support
The decline of the euro against the pound continued to expand. Technically, the euro has fallen below 0.8935 against the pound, initially confirming that the trend has reversed and is forming an important resistance and can lower the resistance to 0.8915. Technically, the euro's first support target of 0.8900 has been broken, with the next target to 0.8875. If following the trend, must plan a stop loss to prevent the trend from changing.

EURCHF
1.1620/1.1630 resistance
1.1585/1.1565 support
Technically, the euro fell below 1.1620 against the Swiss franc, and the lower support can refer to 1.1585 and 1.1565. The downward trend has developed. If follow the trend and continue trading, it must plan a stop loss to prevent the trend from changing.

XAUUSD
1228/1230 resistance
1222/1220 support
The International Economic Development Organization criticized the United States for raising trade tariffs in meantime, the gold rebounded. However, from the US economic data forecast on Friday, it is estimated that there is limited for gold rebound, and it is possible to test the support. Technically, the hourly chart can observe the narrowing pattern. Keep eyed and wait for change.

US crude oil futures:
68.80/69.05 resistance
67.95/67.45 support
The US crude oil inventory report shows that stocks continue to decrease, causing oil prices to rebound, but current trade wars may affect future demand. Moreover, most oil-producing countries have indicated that they can increase their idle capacity and believe that there is an opportunity to suppress oil prices. Technically, oil prices above $69 are the front resistance area. Must eyed on these resistance.

BTCUSD:
8483 / 8660 resistance
7925 / 7670 support
Breakthrough 7670 and 7840，two strong resistance . Next resistance are 8483 / 8660. The trend is upward. If the price below the 20 MA by hourly chart, the trend maybe change.

The above is for reference only; the market is risky and investment needs to be cautious. Trading must included risk management! Wish Happy trading!

Information provided by ATFX, Chief Analyst of Asia Pacific: Martin Lam

Registered Australian Accountant/ Certified Professional Manager / Certified Financial
Advisor Experienced Investor / Media Market Commentator Martin Lam has Over 17 years’ experience in global investment market. Familiar with the worldwide stock indices, precious metals such Gold and Silver, Crude oil and Forex. He operated Martin Currency Trading Company and had partnership with a number of well-known international financial corporations and institutions. Before he join ATFX, he was TeleTrade Greater China development and Sales Director. Mr. Lam attends Hong Kong Now TV and China CCTV finance channel once a week. He also had regularly invited by different media, such as DBC Digital Financial Channel, Hong Kong Economic Times, The Standard, Ming Pao to share his experience to trade in Forex, Precious metals, Crude oil and worldwide stock indices.
Contact:wechat: ATFX_China



Legal: ATFX is a trading name of AT Global Markets Limited (ATGM, registration number 24226 IBC 2017). ATGM is an International Business Company in Saint Vincent and the Grenadines. Registered address is : the Financial Services Centre, Stoney Ground, Kingstown, St.Vincent & the Grenadines.