ATFX Market Updates 2019

[Kelly Yeung]

Personal opinions today
The china-us trade talks were held in Washington today, with the market watching the atmosphere and progress of the negotiations. At present, the outcome of any economic data is not important, the most important to see the results of the negotiations. If negotiations are not completed or progress is achieved in the last two days, the U.S. government is likely to impose an additional tariff of 25 per cent on Chinese imports tomorrow, undermining the global economic climate and the performance of the stock market. In any case, at this point in the lead-up to the talks, the market felt the talks had failed and the investment climate was cautious. Some equity markets saw a flight to safety, with gold and the yen rising, respectively. Crude oil prices continued to settle lower, hovering around $61. If the last bilateral relationship is improved and you temporarily raise the extra tariffs, you can change the entire market atmosphere.

[Important financial data and events to watch]
20:30 U.S. jobless claims for the week ended May 4‬
20:30 U.S. trade balance for March and PPI for April‬
20:30 Fed chairman Powell delivers the opening speech ‬
22:00 U.S. wholesale sales monthly rate for March‬
01:15 the next day, Fed chairman Evans speech ‬

Today's suggestion:

EURUSD
1.1200/1.1215 resistance
1.1180/1.1165 support
European central bank President Mario Draghi speech yesterday, he said the inflation target would not be changed to avoid the risk of economic recovery. The implication of the comments is that the ECB will continue to increase its loose monetary policy and the economic forecast outlook still falls short of expectations. The euro fell on the news. The Eurozone economy outlook against the U.S. economy performed, the U.S. is better than Eurozone economic data today. Expected U.S. dollar is stronger than EUR. Technically, the EURUSD daily chart reference resistance of 1.1225. Reference support at 1.1165. During this period, investors need to keep an eye on China and U.S. trade relations. If China and U.S. relations break down and money flows to the US dollar, it may affect the decline of Euro and Swiss franc.

GBPUSD
1.3040/1.3075 resistance
1.2950/1.2920 support
The British parliament has still failed to solve the Brexit policy so far, negative effects, bearish GBP. The GBPUSD fell from 1.31 to 1.30‬, which was as low as 1.2990. In addition, due to uncertainties in China and U.S. trade negotiations, capital flows to the USD failed to change the expected trend, and the trend of the GBPUSD continued to decline. At present, we must pay attention to China and U.S. trade relations and judge the situation. The situation worsens, GBPUSD can try below 1.2950. Now, resistance refers to 1.3040 and 1.3075.

AUDUSD
0.6995/0.7015 resistance
0.6965/0.6945 support
While the RBA kept interested rates unchanged, in line with market expectations. However, trade tensions between China and the United States confidence loss in Australia's economic outlook, bearish AUD. If the trade talks fail, the trend of the AUDUSD will fall. Now the AUDUSD reference support at 0.6965, while the NZDUSD support at 0.6545.

USDJPY
110.45/110.70 resistance
109.80/109.55 support
Stocks continued to fall ahead of the trade talks, with the Nikkei down more than 1,000 points in a week and the dollar losing support against the yen at 110.05. Today the China and US trade talks coming up again. If they ease tensions, stocks could rebound, with USDJPY can try the reference resistance at 110.45 and 110.70. Instead, the trade talks failed, stocks tumbled, and the dollar fell against the yen. At present, the change in market news dominates the trend of USDJPY. It is suggested to refer to the fluctuations of Dow Jones and Nikkei index, and USDJPY follows the synchronous trend. If the stock market volatility is greater, the USDJPY volatility is greater as well.

USDCAD
1.3495/1.3535 resistance
1.3435/1.3405 support
Crude oil inventories rose, trade tensions between China and the U.S. rose, and all the news was negative for the Canadian dollar. Technical, the USDCAD trade between 1.3475. If China and US trade talks fail today, the expected drop in crude oil demand will also hurt the Canadian economy, bearish CAD. On the contrary, if the trade talks success, crude oil prices rebound, is expected to be bullish CAD, test 1.3400.

U.S. crude futures USOIL
60.85/60.05 support
62.65/63.25 resistance
U.S. President's comments have strained relations between China and the United States, and crude oil prices are lower as inventories rise. But the United States imposed a crude oil embargo on Iran, resulting in tight supplies and stable prices. Technically, the key support is $60.85, and a breakout it could test below $60.05 to $58. Any good news from the trade talks could boost crude oil prices. For the next two days, please keep an eye on the trade talks and the results of the negotiations as a way of judging the situation.

XAUUSD
1287/1292 resistance
1282/1277 support
China and US tensions, global stock market volatility, money flowing into gold, pushing up the price of the gold. If relations cannot solve this week, gold prices could up further. Technical resistance target 1287 And further would be $1,292 or $1,295. If tensions ease, gold could test support at 1,277. Please pay close attention to the content and situation of the China and US trade talks and the results of negotiations tomorrow.

U.S. Dow Jones industrial average futures US
3026360/26535 resistance
25785/25215 support
China is scheduled to attend the trade talks. Before leaving, the Chinese delegation said the goal of the meeting was to reach an agreement. If the talks fail and the U.S. President earlier threatened to impose additional tariffs on Chinese imports, as expected, the investment climate could suffer, and the Dow could fall sharply. Today and tomorrow, we must keep on eyes on the negotiations between China and the United States. Technically, the current resistance levels are 26360 and 26535, while the support levels are 25785 and 25215. Now we must pay attention to the trend of the Dow Jones industrial average, the trend of the Dow Jones industrial average is mainly driven by the trade talk. It is hoped that during the talks, the US President will resolve the deadlock and boost the stock market before cancelling the implementation of the tariff increase.

BTCUSD:
6100 / 6265 resistance
5850 / 5700 support
The FOMC keeps the interest rates unchanged. China and U.S. tension, global stock markets fell; Dow still has a chance to decline. The bitcoin price could stay well and rise. Technically the bitcoin price is expected to test $6100 and $6265 but keeps watching the China and U.S. trade talks results. Positive outlook, bearish the price of Bitcoin.

Enjoy trading! The content is for reference only. Please do ensure that you understand the risk.

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]

Personal opinions today
U.S. and Chinese trade talks open in Washington, markets wait to see what happens. The dow was down nearly 400 points last night, as low as 25,514. Finally, the dow clawed back some of its losses after the U.S. and China said a deal was possible. But the negotiation result is not clear all the time. The US President even threatened to increase the requisition of extra tariffs on Chinese imports of American goods before the meeting. If the United States formally implements the new tariff policy as scheduled, the future market will be fraught with dangers. Global stock market, crude oil prices will face a new round of decline. Gold and the yen will become safe haven funds, led by the rise. On the contrary, progress has been made in sino-us trade talks, the US President has suspended the implementation of new tariffs, and the stock market is expected to reverse course, boosting crude oil prices.

The balance of Britain's merchandise trade account for march, industrial and manufacturing output and Britain's first estimate of gross domestic product at an annual rate in the first quarter were released today, with important implications for sterling. Canada then reported changes in unemployment and employment. At the same time, the U.S. core inflation rate and annual rate in April were reported, and fed officials made speeches, which made the market pay more attention to the performance of U.S. inflation, which deserves attention. If core U.S. inflation rises, that's good for the dollar. Conversely, lower-than-expected core U.S. inflation could be a negative for the dollar. During the us trading session today, the market remained focused on the outcome of the china-us trade negotiations. Any positive or negative news is expected to affect global financial markets. On a positive note, stocks rose and the dollar fell. Instead, negative news could send stocks lower and the dollar higher.

[Important financial data and events to watch]
09:30 Reserve bank of Australia monetary policy statement‬
14:00 Germany Balance of trade and current accounts‬
16:30 U.K. Balance of trade account in March‬
16:30 U.K. industrial and manufacturing output in March‬
16:30 U.K. GDP growth rate in month and annual ‬
20:30 U.S. core inflation rate in April‬
20:30 Canada unemployment rate and employment change‬
20:30 U.S. Fed Bostic speech ‬
22:00 U.S. Fed Williams speech‬
** US-China trade talks

Today's suggestion:
EURUSD
1.1245/1.1260 resistance
1.1180/1.1165 support
Trade Tensions between the United States and China, Asia fund move to the euro, pushed EURUSD hit recent high. But the market expect that core U.S. inflation will be higher than previously and reported today, and the dollar's strength, limited the euro's gains. In addition, the outcome of the US-China trade talks will affect the euro. Whether the euro can become a safe haven for Asian and US funds, pushing up the euro, is the key to the outcome of US-China trade talks today. Technically, the euro/dollar daily chart reference resistance of 1.1260 and reference support of 1.1165. If US-China relations break down, there is an opportunity for money to flow into the euro, which could boost the euro and the Swiss franc. Conversely, the euro and the Swiss franc fell.

GBPUSD
1.3040/1.3075 resistance
1.2950/1.2920 support
The British prime minister has expressed that she would step down after the Brexit completed if parliament accepts her suggested Brexit deal. Political issues continue to weigh on the political climate and economic confidence in the UK, with the pound continuing to test below 1.30, having been as low as 1.2965. In addition, the market is expected that US core inflation rate is higher than the previous value, the dollar is strong, the GBPUSD continue the downtrend, below 1.3040 resistance while rebounded. If negative sentiment continues, the GBP could technically fall below $1.2950. Current reference resistance are 1.3040 and 1.3075.

AUDUSD
0.7015/0.7035 resistance
0.6965/0.6945 support
RBA monetary policy statement shown cut core prices to 2% growth in 2020. However, the price target is still higher than the RBA interest rate of 1.5%, and the market expect that no need to cut interest rate, which is a positive for the Australian dollar. However, US-China relations remain tense, which may affect Australia's economic outlook, confidence and resource exports, and limit the AUD gains. US-China trade talks will be held again today, and the Australian dollar may fall further if the relationship eventually deteriorates. The trend of the New Zealand dollar will follow the Australian dollar. At present, the Australian dollar is focused on the support of 0.6965, while the New Zealand dollar is focused on the support of 0.6545. But any news in US-China trade talks must be noted.

USDJPY
110.45/110.70 resistance
109.75/109.45 support
The USDJPY rose after the bank of Japan released a summary of its policy meeting, which was negative for the JPY and a boost for the Nikkei index. Trade talks between China and the United States remain tense, with stocks likely to fall, and if the Nikkei falls, the USDJPY could test 109.45 again. On the contrary, any easing of tensions and results from the talks could boost stocks, with the USDJPY targets 110.45 and 110.70. At present, changes in market news dominate the trend of the USDJPY. If it is impossible to track the news, it is recommended to refer to the fluctuations of the U.S. Dow and Nikkei. If the stock market volatility, the USDJPY also volatility.

USDCAD
1.3495/1.3535 resistance
1.3435/1.3405 support
The Canadian dollar was helped yesterday by a rise in crude oil futures and a thaw in US-China trade talks could succeed and moved towards an agreement. Technical trends, the USDCAD around $1.3475, up and down. Crude oil demand is expected to fall if US-China trade talks fail, bearish for the Canadian dollar and could test 1.35 level . On the contrary, if the US-China talks to resolve the impasse, crude oil prices rebound, bullish Canadian dollar. The USDCAD could test $1.3400.

U.S. crude futures USOIL
60.85/60.05 support
62.65/63.25 resistance
Comments from US presidents have often affected US-China tensions, as well as crude oil prices. It looks like last night there was some good news in the trade talks, boosting crude oil prices. But if talks fail today, crude oil futures could fall. Technically, the key support level is $60.85, and a breakout test could be below $60.05 to $58. Please keep an eye on the US-China trade negotiations as a trend and price of the crude oil.

XAUUSD
1287/1292 resistance
1282/1277 support
The US-China tase talks become turbulent for global stock market sentiment. Gold prices could rise if relations fail. The gold price reference resistance target $1287. A further break would be $1,292 or $1,295. If tensions between the two countries ease, gold could test support at 1,277. We must keep in mind the content and situation of the China-US negotiations. If you can't track the news, keep check the U.S. Dow and Nikkei volatility.

U.S. Dow Jones industrial average futures US
3026360/26535 resistance
25785/25215 support
Last night, the US President and Chinese officials said the goal of the meeting would be to reach an agreement. Relations between the two countries eased, and U.S. stocks eventually steadied, but that remains to be seen. If the talks fail, and the U.S. President goes ahead with his plan to impose additional tariffs on Chinese imports, the investment climate turns sour and the Dow could fall sharply. In any case, the market is waiting to see the final outcome of today's Chin-US negotiations to confirm where the trend is heading. Technically, resistance at 26360 and 26535, support at 25785 and 25215. Please must pay attention to China-US trade negotiations, and the good or bad news will affect the sharp fluctuations of Dow. It is hoped that during the China-US talks, the US President will resolve the deadlock and boost the stock market before cancelling the implementation of the tariff increase.

BTCUSD
6265 / 6450 resistance
6050 / 5900 support
The FOMC keeps the interest rates unchanged. China and U.S. tension, global stock markets fell; Dow still has a chance to decline, the bitcoin demand increasing. Technically the bitcoin price is expected to test $6265, the price reached. Now, keeps watching the China and U.S. trade talks results. Positive outlook, bearish the price of Bitcoin.

Enjoy trading! The content is for reference only. Please do ensure that you understand the risk.

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]

Following a remarkable 39% gain from its December lows, China A50, an index made up by mainland Chinese shares, dropped sharply and at the time of writing they had slid by 12.55% from their 2019 high. The price had also reached the price target of a head and shoulders pattern formed in April and triggered on May 6. The pattern suggested a 6.2% decline.
The outlook going forward remains bearish unless the Chinese and U.S. governments compromise as an increase in tariffs could lead to a decline in consumption and higher inflation in the US and China.
On Friday, tariffs on US$200 billion of Chinese goods could increase from 10% to 25%, and the remaining US$325 billion of Chinese goods that have not been affected by tariffs could see duty added to them at the rate of 25%.

Per the April head and shoulders pattern the China A50 is short-term oversold, but looking beyond the near term, the China A50 could be in the process to carve out a major head and shoulders pattern that is projecting that prices could slide as low as their 2019 lows. For more on the rationale behind this view and the risks, please watch the video below.

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[Kelly Yeung]

Personal opinions today
No progress has been made in the 11th round of sino-us trade talks, which collapsed after the US President threatened to impose a 25 per cent tariff on Chinese imports. After the meeting, the two sides did not plan time for their next meeting. It is believed that the leaders of the two countries will have a chance to meet at the g20 meeting next month and see if they can ease relations.
The United States has imposed tariffs on Chinese goods. The outlook for global economic growth is uncertain. Money flowed into gold and the yen, while European currencies also benefited. Australia and New Zealand, China's trading partners, suffered as their currencies fell. Oil prices are under pressure as the economy and production slow in anticipation. If the sino-us trade relationship does not improve in the short term, market risks will increase and there will be a chance to repeat the market trend of previous years.
There is no important data released today, it is recommended to look ahead to tomorrow's data, forecast trend trend. Japan's trade balance for march, Germany's final monthly CPI rate for April, UK's unemployment rate for April, UK's jobless claims for April, eurozone's industrial output rate for march and us import price index for April.

[Important financial data and events to watch]
(Hong Kong stock exchange will be closed on the day following Buddha's birthday)
14:30 French BOF business confidence index for April
Federal reserve rosengren delivers welcome speech
21:10 fed vice chairman larry klarida delivers opening remarks

Today's suggestion:
EURUSD
1.1245/1.1260 resistance
1.1205/1.1185 support
Trade talks between China and the US have collapsed, with money flowing into the euro, pushing up euro. If this week's eurozone economic data does not disappoint, the euro has a chance to test the 1.13 level. Technically, the euro/dollar daily chart reference resistance of 1.1260 and reference support of 1.1185. If European economic data disappoint, a further bad news from US and China relations, could boost the euro and the Swiss franc as money flows into the euro.

GBPUSD
1.3040/1.3075 resistance
1.2965/1.2950 support
The Brexit still has no solution, which affects the confidence to investment. The GBPUSD continue to trade at or below 1.30, which was as low as 1.2965 recently. The euro rose in the short term, with the GBP following. Technically, the GBPUSD not breakthrough the 1.3040 resistance, the trend is decline. If the negative sentiment continues to affect the UK, the GBPUSD may try below 1.2950. Reference resistance is 1.3040 and 1.3075.

AUDUSD
0.7000/0.7015 resistance
0.6965/0.6945 support
No improvement in China and US trade relations has affected the exchange rate of China RMB and the Australian dollar. The Australian dollar is likely to continue to fall as trade relations between the U.S. and dollar is terrible. The trend of the New Zealand dollar will follow the Australian dollar. At present, the Australian dollar is focused on the support of 0.6965, while the New Zealand dollar is focused on the support of 0.6545. If the China and US trade relationship improved, the trend of the Australia dollar and New Zealand dollar is likely to reverse.

USDJPY
110.05/110.30 resistance
109.45/109.25 support
Trade talks between China and the United States have strained markets, with the Nikkei falling and the USDJPY following, which is likely to test 109.45 or below. The USDJPY will have a chance to rally if any news improves the market sentiment and boosts stocks. But the current resistance targets are 110.05 and 110.30. It is recommended to refer to the fluctuations of the U.S. Dow and Nikkei. If the stock market volatility, the USDJPY also volatility.

USDCAD
1.3495/1.3535 resistance
1.3435/1.3405 support
No any progress in the trade talks between the U.S. and China, and the price of crude oil futures fell, also hurting the Canadian dollar. Technical trends, the USDCAD continued to hover around $1.3475. If the situation of China and US talks remains unchanged and crude oil demand is expected to fall, the Canadian dollar will continue to be negative, possibly reaching the 1.35 level.

U.S. crude futures USOIL
60.85/60.05 support
62.05/62.85 resistance
The China and US trade negotiation ended in failure. The United States is raising the requisition for Chinese imports to an extra tariff, which is causing the productivity to slow down expected, affecting the demand for crude oil. Technically, the key support level is $60.85, and a breakout test could be below $60.05 to $58. Please keep an eye on the China and US trade negotiations.

XAUUSD
1289/1292 resistance
1282/1279 support
U.S. and China progress in trade talks is terrible, contributed to the global stock market fell, money flowing into gold against the global economy and stock market go down. Now that the relationship is unresolved, gold prices could up. Gold has a chance to go up to $1,292 or $1,295. If tensions between the two countries are expected to solve, gold is expected to test support at 1279. It is recommended to pay attention to the fluctuations of the U.S. Dow and Nikkei indexes to catch up the market sentiment and trend.

U.S. Dow Jones industrial average futures US30
26360/26535 resistance
25785/25215 support
The U.S. increased tariffs on China imports, the investment climate turns sour and the Dow fell. In any case, the market is waiting to see the final outcome of China and US negotiations to confirm where the trend is heading. Technically, continue with resistance at 26360 and 26535, support at 25785 and 25215. Please pay attention to China and US trade negotiations, any positive or negative news will affect Dow.

BTCUSD:
7265 / 7550 resistance
6750 / 6600 support
China and U.S. tension, global stock markets fell; Dow decline, the bitcoin demand increasing. Technically the bitcoin pricebroke $6265, the price reached $7000. Now, keeps watching the China and U.S. trade talks. If positive outlook, bearish the price of Bitcoin. If negative, the Bitcoin will keep uptrend.

Enjoy trading! The content is for reference only. Please do ensure that you understand the risk.

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]

Personal opinions today
A trade war between China and the us has resumed, with China imposing tariffs on us imports and raising some of them yesterday, following a 25 per cent tariff increase imposed on Chinese imports on Friday. The dow Jones industrial average fell last night, while Chinese and global markets fell. Money flowed into gold and the yen, and some into the euro, as worries mounted.
There is no doubt that the escalation of the trade war between China and the United States continues to trouble the market, and the investment sentiment declines. Asia-pacific currencies, excluding the yen, fell broadly. If things don't improve, this trend will continue for some time. If the stock market continues to fall, gold prices and the yen will generally continue to bullish.

[Important financial data and events to watch]
14:00 German final monthly CPI rate for April
16:30 UK unemployment rate and jobless claims for April
17:00 Eurozone industrial output rate for march
17:00 German and Eurozone ZEW economic sentiment index for May
18:00 U.S. NFIB small business sentiment index for April
20:30 U.S. import price index for April
Next day 04:30 U.S. API crude stocks for the week

Today's suggestion:
EURUSD
1.1260/1.1280 resistance
1.1215/1.1195 support
As a trade war escalates between China and the United States, the two countries are raising and requisitioning extra tariffs for each other. If Eurozone economic data does not disappoint markets, the euro has a chance to test the 1.13 level. Technically, the euro/dollar daily chart reference resistance of 1.1260 and reference support level of 1.1195. If European economic data disappoint markets and China and US relations do not improve, money could flow into the euro, potentially boosting the euro and the Swiss franc.

GBPUSD
1.3020/1.3040 resistance
1.2925/1.2900 support
The Brexit unresolved, affecting investment confidence, with the GBPUSD remaining at or below 1.30, having been as low as 1.2942. But if the euro rises in the short term, the GBPUSD is expected to follow. Technically, the GBPUSD remains at $1.3040, which is expected to limited gains. If negative sentiment continues to UK economic and political prospects, the GBPUSD could fall below $1.2900.

AUDUSD
0.6975/0.6990 resistance
0.6925/0.6910 support
A trade war between China and the us escalates, affecting the Australian dollar. The Australian dollar is likely to continue to fall as trade relations between the U.S. and China remain worsting. The trend of the New Zealand dollar will follow the trend of the Australian dollar, with the Australian dollar at 0.6910 and the New Zealand dollar at 0.6545. If China and US trade relations improve, the trend of AUDUSD and NZDUSD is likely to reverse.

USDJPY
110.05/110.30 resistance
109.15/108.90 support
Last year, the two countries imposed extra tariffs on the other side. The requisitioned tariff range and tax are higher than last year. The dollar fell in line with the Nikkei against the yen as money flowed back into global markets and the carry trade was cut. Without any news to improve the market mood and boost stocks, the dollar will struggle to rebound significantly against the yen and may test the 108 level.

USDCAD
1.3495/1.3535 resistance
1.3435/1.3405 support
A trade war between China and the United States escalated, with resource commodities and crude oil futures falling, hurting the Canadian dollar. Technical trend, the U.S. dollar against the Canadian dollar to continue to fluctuate around 1.3475. If their trade negotiations and relations have not changed, the expected decline in crude oil demand. Crude oil prices fell, hurting the Canadian dollar.

U.S. crude futures USOIL
60.85/60.05 support
62.05/62.85 resistance
Despite the rising price of crude oil due to the tense situation in the Middle East, the trade negotiation failure. The two countries raised the requisitioned additional tariffs, slowdown in global productivity and an uncertain economic outlook. Now that the talks have failed, oil futures could fall further. Technically, the key support level is $60.85, and a breakout test could be below $60.05 to $58.

XAUUSD
1302/1305 resistance
1296/1293 support
Tensions between the U.S. and China, an escalating trade war and turmoil in global stock markets, money is flowing into gold. Now relations have failed to thaw and the price of gold has soared. Gold has a shot at $1,305 or more. Gold prices could test support levels if tensions between the two countries are expected to ease. It is recommended to pay special attention to the fluctuations of the U.S. Dow and Nikkei indexes, lead the market mood and sentiment, and lead the trend of gold prices.

U.S. Dow Jones industrial average futures US30
25760/26005 resistance
25185/25015 support
The Dow could fall sharply after talks between the U.S. and China collapsed, the U.S. President imposed additional tariffs on Chinese imports and the investment climate soured. Yesterday China also began imposing tariffs and additional tariffs on US import goods. The market investment sentiment is tense, the situation is not clear, the stock market has the room to fall.

BTCUSD:
8150 / 8550 resistance
7750 / 7600 support
China and U.S. tension, global stock markets fell; Dow decline, the bitcoin demand increasing. Technically the bitcoin pricebroke $7500, forecast to $8000. Now, keeps watching the China and U.S. trade tension. If positive outlook, bearish the price of Bitcoin. If negative, the Bitcoin will keep uptrend.

Enjoy trading! The content is for reference only. Please do ensure that you understand the risk.

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]

Personal opinions today
A trade war between China and the us has resumed, with China imposing tariffs on us imports and raising some of them yesterday, following a 25 per cent tariff increase imposed on Chinese imports on Friday. The dow Jones industrial average fell last night, while Chinese and global markets fell. Money flowed into gold and the yen, and some into the euro, as worries mounted.

There is no doubt that the escalation of the trade war between China and the United States continues to trouble the market, and the investment sentiment declines. Asia-pacific currencies, excluding the yen, fell broadly. If things don't improve, this trend will continue for some time. If the stock market continues to fall, gold prices and the yen will generally continue to bullish.

[Important financial data and events to watch]
14:00 German final monthly CPI rate for April
16:30 UK unemployment rate and jobless claims for April
17:00 Eurozone industrial output rate for march
17:00 German and Eurozone ZEW economic sentiment index for May
18:00 U.S. NFIB small business sentiment index for April
20:30 U.S. import price index for April
Next day 04:30 U.S. API crude stocks for the week

Today's suggestion:

EURUSD
1.1260/1.1280 resistance
1.1215/1.1195 support
As a trade war escalates between China and the United States, the two countries are raising and requisitioning extra tariffs for each other. If Eurozone economic data does not disappoint markets, the euro has a chance to test the 1.13 level. Technically, the euro/dollar daily chart reference resistance of 1.1260 and reference support level of 1.1195. If European economic data disappoint markets and China and US relations do not improve, money could flow into the euro, potentially boosting the euro and the Swiss franc.

GBPUSD
1.3020/1.3040 resistance
1.2925/1.2900 support
The Brexit unresolved, affecting investment confidence, with the GBPUSD remaining at or below 1.30, having been as low as 1.2942. But if the euro rises in the short term, the GBPUSD is expected to follow. Technically, the GBPUSD remains at $1.3040, which is expected to limited gains. If negative sentiment continues to UK economic and political prospects, the GBPUSD could fall below $1.2900.

AUDUSD
0.6975/0.6990 resistance
0.6925/0.6910 support
A trade war between China and the us escalates, affecting the Australian dollar. The Australian dollar is likely to continue to fall as trade relations between the U.S. and China remain worsting. The trend of the New Zealand dollar will follow the trend of the Australian dollar, with the Australian dollar at 0.6910 and the New Zealand dollar at 0.6545. If China and US trade relations improve, the trend of AUDUSD and NZDUSD is likely to reverse.

USDJPY
110.05/110.30 resistance
109.15/108.90 support
Last year, the two countries imposed extra tariffs on the other side. The requisitioned tariff range and tax are higher than last year. The dollar fell in line with the Nikkei against the yen as money flowed back into global markets and the carry trade was cut. Without any news to improve the market mood and boost stocks, the dollar will struggle to rebound significantly against the yen and may test the 108 level.

USDCAD
1.3495/1.3535 resistance
1.3435/1.3405 support
A trade war between China and the United States escalated, with resource commodities and crude oil futures falling, hurting the Canadian dollar. Technical trend, the U.S. dollar against the Canadian dollar to continue to fluctuate around 1.3475. If their trade negotiations and relations have not changed, the expected decline in crude oil demand. Crude oil prices fell, hurting the Canadian dollar.

U.S. crude futures USOIL
60.85/60.05 support
62.05/62.85 resistance
Despite the rising price of crude oil due to the tense situation in the Middle East, the trade negotiation failure. The two countries raised the requisitioned additional tariffs, slowdown in global productivity and an uncertain economic outlook. Now that the talks have failed, oil futures could fall further. Technically, the key support level is $60.85, and a breakout test could be below $60.05 to $58.

XAUUSD
1302/1305 resistance
1296/1293 support
Tensions between the U.S. and China, an escalating trade war and turmoil in global stock markets, money is flowing into gold. Now relations have failed to thaw and the price of gold has soared. Gold has a shot at $1,305 or more. Gold prices could test support levels if tensions between the two countries are expected to ease. It is recommended to pay special attention to the fluctuations of the U.S. Dow and Nikkei indexes, lead the market mood and sentiment, and lead the trend of gold prices.

U.S. Dow Jones industrial average futures US30
25760/26005 resistance
25185/25015 support
The Dow could fall sharply after talks between the U.S. and China collapsed, the U.S. President imposed additional tariffs on Chinese imports and the investment climate soured. Yesterday China also began imposing tariffs and additional tariffs on US import goods. The market investment sentiment is tense, the situation is not clear, the stock market has the room to fall.

BTCUSD:
8150 / 8550 resistance
7750 / 7600 support
China and U.S. tension, global stock markets fell; Dow decline, the bitcoin demand increasing. Technically the bitcoin pricebroke $7500, forecast to $8000. Now, keeps watching the China and U.S. trade tension. If positive outlook, bearish the price of Bitcoin. If negative, the Bitcoin will keep uptrend.

Enjoy trading! The content is for reference only. Please do ensure that you understand the risk.

Information provided by AT Global Market, 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: 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 opinions today

Markets focused today on the Eurozone seasonally adjusted trade balance for March and U.S. jobless claims for the week. The Philadelphia Fed manufacturing index and housing starts are also for reference. Please pay attention to the US-China trade talks news and the Dow’s trend. The US President said reopen the US-China trade talks and believes the US trade secretary will travel to Beijing before late June to discuss, seems to improve the investment climate. On further positive news, then the stock market rose, and gold and the yen fell. More importantly, it is expected to benefit the Australia dollar, the New Zealand dollar, and the Chinese RMB.

[Important financial data and events to watch]
17:00 Eurozone quarter adjusted trade account
20:30 U.S. jobless claims
20:30 U.S.Philadelphia Fed manufacturing index for May
20:30 U.S. building permits and housing starts for April
22:30 Canada releases its assessment of the financial system
23:00 Canada Bank of Canada answer questions on the financial system assessment report
To be confirmed ECB President Mario Draghi attends Eurogroup meeting

Today's suggestion:

EURUSD
1.1185/1.1170 support
1.1240/1.1260 resistance
The Euro was supported by GDP in Germany and the Eurozone yesterday. Besides, U.S. retail sales and April industrial output worse than the market expected, and the euro rose. Technically, the reference resistance at 1.1240 and reference support at 1.1185.

GBPUSD 1.2815/1.2790 support
1.2880/1.2905 resistance
The UK has failed to implement the Brexit agreement, investors confidence lost in the UK economy and investment sentiment, GBP fell. Euro rose, but GBP was unable to benefit, following the rise. With good news and data support, the GBPUSD is expected to follow to rise. Technically, GBPUSD resistance of 1.2905, keep downtrend, is testing 1.2790 in three months low

AUDUSD 0.6955/0.6970 resistance
0.6910/0.6890 support
The US-China trade war, the market worried about the decline in global demand, the impact of Australian exports, the Australian dollar continued to fall. At present, US-China trade relations are still not very well, and the trend of the Australian dollar continues to be bearish. The New Zealand dollar and the Australian dollar often move in the same direction, with the Australian dollar currently focused on support of 0.6910 and 0.6890 and the New Zealand dollar on the support of 0.6545. If US-China trade talks confirm, the trend of AUD and the NZD is likely to rebound.

USDJPY109.75/109.95 resistance
109.35/109.15 support
Japan's Nikkei index fell on fears of economic recovery after a trade war between China and the United States. Funds flowed back into the yen as a result of the carry trade. The dollar has tracked the Nikkei's performance against the yen and will struggle to rebound sharply without any news to improve sentiment and lift stocks. In the short term, the market is looking for an improvement in the US-China trade war.

USDCAD 1.3475/1.3505 resistance
1.3435/1.3405 support
Crude oil futures rose on worries about tight supplies in the Middle East, helping the Canadian dollar to offset yesterday's poor Canadian data. Technical trends, the U.S. dollar from the Canadian dollar down from 1.3475, met the suggested support at 1.3435. However, US-China trade negotiations and relations have not improved, and crude oil prices are likely to fall.

U.S. crude futures USOIL 61.05/60.65 support
62.85/63.25 resistance
Tensions in the Middle East supported the rise in crude oil prices, but the trade talks between China and the United States failed and limited the crude oil demand. A possible resumption of trade talks between the U.S. and China could support crude oil prices. Technically, the reference support is $61.05 and $60.65, with preliminary targets of $62.85 and $63.25 resistance.

XAUUSD
1300/1302 resistance
1293/1291 support
Tensions between China and the United States affected global stock markets. Capital flow to gold, which has rallied above $1,290, but limited between 1300 and 1302 resistance. Please pay attention to US-China trade news updates or keep watching the Dow performance. If positive news, led the stock market rebound, gold prices are expected to fall, test support.

U.S. Dow Jones industrial average futures US3025715/25810 resistance
25455/25305 support
China and the United States trade talks intend to reopen, the Dow rose. The Dow is expected to continue to rise if trade talks between China and the United States confirmed. On the contrary, relations tensions, the investment climate lost, the stock market fall. Current keep focus on suggestion resistance and support levels.

BTCUSD:
8150 / 8550 resistance
7750 / 7600 support
China and U.S. tension, global stock markets fell; Dow overall decline, the bitcoin demand increasing. Technically the bitcoin price broke $7500, forecast to $8000. Now, keeps watching the China and U.S. trade tension. If a positive outlook, bearish the price of Bitcoin. If contrary, the Bitcoin will continue the uptrend.

Enjoy trading! The content is for reference only. Please do ensure that you understand the risk.

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]

Personal opinions today
There are no major data releases on Asian and European markets today, but a statement from the ECB's vice President speech tomorrow. Positive comments could boost the euro. In addition, during the U.S. trading session, existing home sales in the United States were also expected to rise in April, according to data on April U.S. home sales released last week. Also, focus on Eurozone consumer sentiment.
Yesterday, Fed chairman Powell said recent U.S. economic data have been good and monetary policy could ease if the economy contracts to maintain stability, suggesting fed policy makers are still considering a rate cut because of uncertainty about the U.S. economy. The dollar index fell after the comments, while the euro and sterling rose. Gold prices recovered from their lows, while crude oil prices also rose slightly.

[Important financial data and events to watch]
09:30 AU monetary policy minutes published by rba
16:30 UK the governor of the bank of England and other officials remarks
22:00 US the total number of existing home sales in April
22:00 Eurozone consumer sentiment index
Next day 02:30 New York crude futures close for June
Next day 04:30 U.S. API crude stocks for the week ended May 17

Today's suggestion:
EURUSD
1.1160/1.1145 support
1.1205/1.1220 resistance
Markets watch tomorrow's speech by European central bank President Mario draghi if the euro zone's may consumer confidence index changes today. And positive comments from ECB officials could lead to euro gains. Technically, from the euro against the dollar chart found that the euro broke through the short-term moving average, the trend is expected to be upward. The current reference resistance is 1.1205 and 1.1220. Using a moving average reference, support bits 1.1160 and 1.1145.

GBPUSD
1.2705/1.2670 support
1.2750/1.2770 resistance
Markets believe the UK could delay its decision on a Brexit deal again. The GBPUSD continued to fall as uncertainty about the political and economic outlook weighed on investor confidence. The dollar index was only slightly lower, with the GBPUSD up from a low of $1.2715. Technically, 1.2865 as an important reference resistance, if the price can not break through, the trend continues to decline. At present, the trend is likely to test the next 1.2705 and 1.2670 support. Market watching: the governor of the bank of England and other officials speak today, the UK inflation data CPl will be released tomorrow, It will believe the results will affect the trend of the GBPUSD.

AUDUSD
0.6940/0.6965 resistance
0.6885/0.6865 support
The Australian dollar posted its biggest one-day gain since January after the surprise election yesterday. The Australian dollar could under pressure by the prospect of a interest rate cut from the Reserve bank of Australia. Minutes of the RBA's may meeting were released today to watch the RBA's comments on monetary policy. Technically, the overall trend of the Australian dollar still has downside risks. If AUDUSD remain above 0.6895, they will try 0.6940 and 0.6965 respectively. The important support bits below are 0.6885 and 0.6865. The trend of the New Zealand dollar is similar to that of the Australian dollar, which can also provide reference for the trend of the New Zealand dollar.

USDJPY
110.35/110.50 resistance
109.80/109.65 support
The trade tensions between China and the United States, the comments of representatives of the two countries led to the decline of investment sentiment. The Dow and Nikkei index in a narrow range, and the dollar also fluctuated in a narrow range against the yen. If the trade tensions between China and the United States improves, and resume trade talks, believing that it can change the investment sentiment, lead to a rise in the stock market and boost the dollar against the yen. Conversely, the dollar against the yen exchange rate, is still likely to decline. The dollar is currently estimated to be hovering around 110 yen, the rise will be limited. Technically, the dollar rallied against the yen, focusing on resistance at 110.35 and 110.50. Break through 109.80 support, the trend may extended to 109.40.

USDCAD
1.3475/1.3505 resistance
1.3425/1.3400 support
Focus on U.S. API crude inventories for the week ended May 17. Expected crude oil price fluctuations, indirect impact on the performance of the Canadian dollar. Technical trends, the USDCAD continued to fluctuate between $1.3400 and $1.3500 range. Canada reports march retail sales tomorrow, and the market is watching.

U.S. crude futures USOIL
62.55/61.85 support
63.85/64.35 resistance
Focus on U.S. crude oil inventories for the week ended May 17, the results will affect crude oil price fluctuations. If crude oil inventories than last week, combined with tensions in the Middle East, Opec with the news of production cuts, bullish crude prices, and vice versa. Technically, see initial support at $62.55 and resistance at $63.85 and 64.35.

XAUUSD
1275/1272 support
1282/1285 resistance
Trade tensions between China and the United States offer an opportunity to gold price rally. It's just that U.S. economic data is good and gold prices are downward. Suggestions must pay attention to the trade talks related news or the U.S. Dow performance. If positive news, led the stock market rebound, gold prices are expected to test support. Gold, on the other hand, could test $1,290.

U.S. Dow Jones industrial average futures US30
25855/25940 resistance
25515/25425 support
Better U.S. economic data supported the Dow bullish. But trade tensions between China and the United States have yet to materialize a timetable for the resumption of trade talks, with the Dow limited to gains with downside risks. Current recommendations focus on resistance at 25855 and 25940. If fails, the lower targets as 25515 and 25425.

BTCUSD:
8150 / 8550 resistance
7250 / 6800 support
China and U.S. tension, global stock markets fell; Dow overall decline, the bitcoin demand increasing. Technically the bitcoin price back and breakthrough $7500, next target could $8000. Now, keeps watching the China and U.S. trade tension. If a positive outlook, bearish the price of Bitcoin. If contrary, the Bitcoin will continue the uptrend.

Enjoy trading! The content is for reference only. Please do ensure that you understand the risk.

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]

Personal opinions today
Federal reserve minutes showed the U.S. economy remains stable, at an appropriate level, and have no intention of changing Fed fund rates. But the minutes added that US trade tensions over global could drag down growth and even hurt the US economy downturn. The markets believing short-term U.S. economic performance well and the dollar stronger. However, the trade war between China and the US never subsided, and the Dow fell, closing down over 100 points from the previous day, leading to the gold price and Japanese yen rose. External factors gradually change, the dollar index may finally fail to break through 98.35 resistance, trend could reversal.
A number of important Eurozone data out today suggest looking at that during European trading hours. In U.S. trading hours, keep an eye on U.S. jobless claims for the last week and the US Markit manufacturing and services PMI for May and total new home sales for April. If the U.S. data results disappoint markets, the dollar could fall.

[Important financial data and events to watch]
14:00 Germany final quarterly GDP in Q1
15:30 German manufacturing PMI for May
16:00 Eurozone manufacturing PMI for May
16:00 German May IFO business climate index
19:30 ECB monetary policy minutes for April
20:30 U.S. jobless claims for the week ended May 18
20:30 Canada wholesale sales rate of March
21:45 US Markit manufacturing and services PMI for May
22:00 US Total new home sales in April
22:30 U.S. EIA natural gas inventories for the last week

Today's suggestion:
EURUSD
1.1150/1.1135 support
1.1180/1.1200 resistance
Markets are watching the Eurozone economic data, with expectations for a slight rise in the manufacturing PMI. A stronger dollar would weigh on the euro if U.S. economic data beat expectations. Technically, the reference resistance is at 1.1180 and 1.1200, with support at 1.1150 and 1.1135. But for strong Eurozone data or weak U.S. economic data, the market believe the euro would face headwinds to 1.1200.

GBPUSD
1.2690/1.2720 resistance
1.2605/1.2570 support
The UK parliament continues to debate the Brexit agreement. At present, members of parliament are oppose the U.K. Prime minister May. There were no UK data released today, but expectations of a rise in the euro led to some pound gains. Technically, the important reference resistance to the pound fell to 1.2720, if the price did not break through, the trend continues to decline. Continue to try 1.2605 and 1.2570 support bits.

AUDUSD
0.6890/0.6920 resistance
0.6865/0.6835 support
The Reserve bank of Australia (RBA) increased its chances of cutting interest rates next month when it released minutes of its may meeting. In addition, trade war did not calm down, and the Australian dollar fell in anticipation of slowing Australia's economic growth, indirectly affecting the New Zealand dollar fell. Technically, there are still downside risks to the AUDUSD. The initial target support level is 0.6865. If AUDUSD break through the support level, the lower target of 0.6835 and 0.6805. Otherwise, it is expected to rise to 0.6890 and 0.6920. Keep watching in the trade war between China and the US in the short term.

USDJPY
110.65/110.90 resistance
110.20/109.95 support
The trade war tensions, investors lost confidence, sentiment down. Dow and Nikkei fell respectively, and the USDJPY followed from 110.65 down to 110.05. If a trade war between China and the US fails to improve the atmosphere and China and the United States resume consultations and talks, it is believed that the investment climate will still be affected. The stock market fell, leading USDJPY to the same way. Conversely, the dollar rose against the yen.

USDCAD
1.3475/1.3505 resistance
1.3425/1.3400 support
Canada reported better-than-expected retail sales in March as markets limited the rise in the Canadian dollar ahead of the release. Crude oil futures fell and the Canadian dollar followed fell. Technically, the USDCAD hits 1.3400 after, by external factors, the Canadian dollar fell. It is recommended to keep an eye on the trend of crude oil prices. If crude oil prices continue to fall, the USDCAD may test 1.3475 or 1.3505.

U.S. crude futures USOIL
60.45/60.15 support
62.65/63.05 resistance
U.S. API and ElA crude stock remain high level and crude prices fell. In addition, there are concerns that Russia and other non-OPEC members may oppose a production cut, leading to the possibility of an oversupply of crude oil, which is bad for crude prices. For technical adjustment of crude oil prices, refer to the support of $60.45 and $60.15, and the resistance of 62.65 and 63.05.

XAUUSD
1271/1269 support
1282/1285 resistance
Trade tensions shows no sign of abating and the Dow is down. In addition, the Fed had intended no interest hikes in mind, and gold prices rose. In general, it is recommended to keep an eye on the news related to trade negotiations or the performance of Dow Jones index to catch the trend of gold price. If positive news or the Dow rises, gold prices are expected to fall. Conversely, gold prices could rebound. Technically, the 1271 and 1269 support. No breakthrough go down, gold prices are expected to rebound.

U.S. Dow Jones industrial average futures US30
25905/26070 resistance
25515/25425 support
Trade tensions has not solve, and there is no timetable for the negotiations. The Dow Jones industrial average fell on jitters after the U.S. trade department extended trade talks to Europe and Japan. U.S. trade talks with the rest of the world have been murky, and no need any technical indicator analysis, also understand the downside risks. The Dow has a chance to deepen its losses if tensions between the U.S. and China return and trade talks between Europe and Japan turn sour. Current recommendations focus on resistance at 25855 and 25940. Lower support targets 25515 and 25425.

BTCUSD:
8150 / 8550 resistance
7550 / 7300 support
China and U.S. tension, global stock markets fell; Dow overall decline, Fed no intended to interest hike, the bitcoin demand increasing. Technically the bitcoin price back and breakthrough $7500, next target could $8000. Now, keeps watching the China and U.S. trade tension. If a positive outlook, bearish the price of Bitcoin. If contrary, the Bitcoin will continue the uptrend.

Enjoy trading! The content is for reference only. Please do ensure that you understand the risk.

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]

Personal opinions today
The US jobless claims held steady at 210,000, a sign of an expanding labor market. But other U.S. economic data shown slow down, bearish the dollar, the Dow has fallen and money has flowed into the yen and gold. Finally, the rise in the yen and gold prices eased after the Dow Jones index covered losses after the U.S. President said he would hold talks with China's trade ministry as soon as possible.
The British prime minister has decided to step down as soon as today as she wants to solve the Brexit deal. If UK retail sales data beat expectations today, it could be positive for the pound, but not bullish. We have wait and see the U.S. durable goods orders for April, with the data available as a revised estimate of first-quarter U.S. GDP next week. The data could boost stocks and support the dollar if very well. Conversely, bearish the Dow and USD.

[Important financial data and events to watch]
16:30 UK retail sales rate adjusted for April
18:00 UK CBI retail sales difference for May
20:30 U.S. durable goods orders monthly rate for April

Today's suggestion:
EURUSD
1.1160/1.1135 support
1.1200/1.1225 resistance
U.S. jobless claims remained low market expected yesterday, but other U.S. economic data below expectations, bearish USD and the euro rebounding from its lows. This analysis expected yesterday, technical reference resistance at 1.1180 and 1.1200, with support at 1.1150 and 1.1135. If the trend continues, bullish the euro to test the 1.1200 level.
GBPUSD
1.2690/1.2720 resistance
1.2605/1.2570 support
UK prime minister May has announced she will resign as soon as today, after finding a next P.M. Brexit progress is not going well, which has been affecting the decline of the pound. If the prime minister is replaced, it is expected to bring new sentiment, hopes to boost the economy and pound. Today's U.K. data for reference did not expect a boost the pound. But the establishment of the prime minister's resignation and a new PM replace, it could boost the pound. Technically, the reference resistance 1.2720, if the price did not break through, the trend continues to decline. Such 1.2605 and 1.2570 support.
AUDUSD
0.6890/0.6920 resistance
0.6865/0.6835 support
U.S. economic data disappointed, the dollar fell, indirectly bullish Australian dollar. Trade between China and the United States has not calmed down, and market expectations have slowed down the Australian economy and limited the rise of the Australian dollar to 0.69. Technically, there are still downside risks to the AUDUSD trend. The initial target support level is 0.6865. If AUDUSD break through the support, the downside target of 0.6835 and 0.6805. Conversely, rise, 0.6920 breakthroughs, the uptrend is expected to continue. The New Zealand dollar has the same reason following AUDUSD rebound.
USDJPY
110.05/110.20 resistance
109.50/109.35 support
Us economic data fell below expectations, and the Dow fell, indirectly affecting the USDJPY. Japanese inflation data improved, bullish JPY shortly and hit 109.50. Most USDJPY trend with the stock market. If U.S. durable goods orders in line with expectations today. The mood for a trade war between China and the United States may not improve, and the resumption of consultations and talks between China and the United States led to a rise in the stock market and a rise in the USDJPY. Conversely, the dollar fell against the yen.
USDCAD
1.3490/1.3505 resistance
1.3445/1.3430 support
Crude oil lost $60 to $58, sending the Canadian dollar lower. Technical trend, the USDCAD is testing 1.35, affected by external factors, next week's Canadian interest rate decision, the Canadian dollar fell. If crude oil prices continue to fall, the U.S. dollar has reached its target of $1.3475 against the Canadian dollar. If crude oil prices continue to fall, the USDCAD may break $1.3505.
U.S. crude futures USOIL
57.40/56.45 support
59.65/60.05 resistance
Crude prices have failed to rise with higher crude inventories at API and ElA. Besides, there are concerns that Russia and other non-OPEC members may oppose a production cut, leading to the possibility of an oversupply of crude oil, which is terrible for oil prices. On the technical adjustment of crude oil price, refer to the support $60.15 to break through, and continue to see the support of $57.40 and $56.45 below. The reference resistance is 59.65 and 60.05.
XAUUSD
1276/1273 support
1285/1288 resistance
The Dow fell after weaker-than-expected U.S. economic data and no signs of an easing in trade talks. Moreover, the Fed has no interest rate hikes, bullish gold prices. In general, it is recommended to keep an eye on the news related to trade talks or the performance of Dow Jones to catch up the trend of gold price. Positive news or the Dow rises, gold prices are expected to fall. Conversely, gold prices could rebound. Technically, the 1276 and 1273 support. Important resistance 1288, next 1292.
U.S. Dow Jones industrial average futures US30
25705/25855 resistance
25415/25355 support
Trade talks between China and the United States has not subsided, and there is no timetable. The Dow fell after the U.S. trade department opened trade talks with Europe and Japan. U.S. economy slowing, the Dow has downside risks. The Dow has a chance to deepen its losses if tensions between the U.S. and China return and bad news emerges from trade talks in Europe and Japan. Current recommendations focus on resistance at 25705 and 25855. Lower support bit targets 25415 and 25355.
BTCUSD:
8150 / 8550 resistance
7550 / 7300 support
Trade tension continues, global stock markets fell; Dow overall decline, Fed no intended to interest hike, the bitcoin demand increasing. Technically the bitcoin price back and breakthrough $7500, next target could $8000. Now, keeps watching the China and U.S. trade tension. If a positive outlook, bearish the price of Bitcoin. If contrary, the Bitcoin will continue the uptrend.

Enjoy trading! The content is for reference only. Please do ensure that you understand the risk.

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

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