ATFX Market Updates 2019

[Kelly Yeung]

ATFX-A Global Leader in Online Trading
ATFX Market Outlook, 2019 Nov 14

Personal opinions today:

Reserve Bank of New Zealand (RBNZ)surprised markets by leaving interest rates unchanged. The governor of RBNZ expected economy is growing, interest rates are at an appropriate level, and there are no plans to cut rates. Comments bullish on the New Zealand dollar, but markets are looking to RBA rate hike next week, limit the NZDUSD and AUDUSD. Yesterday, Germany's final monthly CPI rate did not increase in October, and Eurozone industrial output fell in September, which was bearish for the Euro. UK CPI and RPI were weak in October. As expected yesterday, consumer data on inflation in the Eurozone, bearish for the Euro, Swiss franc and pound. U.S. consumer prices rose more than expected in October, and Dow futures rose. But investors continued to watch the U.S. President, and the government put pressure on trade policy, saying it would consider additional tariffs and threatening that trade deals must be good for the U.S. economy. Investment risk aversion increased bullish gold prices. U.S. API crude stocks fell last week, boosting crude prices. The market is concerned about EIA crude oil inventory results tonight.

In European trading today, Germany Q3 GDP, UK retail sales in October, the market is expected to increase, bullish European currency. In U.S. trading, the market looked at the number of U.S. jobless claims last week and the U.S. producer price index for October. The market followed the testimony of Fed chairman Powell. The dollar could be supported if Fed chairman Powell strengthens message no intended to cut interest rates further, but could be bearish for Dow futures and indirectly bullish for gold.

[Important financial data and events]
Note: * is the degree of importance

15:00 German GDP for Q3 **
17:30 UK October retail sales **
18:00 Eurozone Q3 GDP revised ***
18:00 Eurozone employment rate in Q3 **
21:30 U.S. Jobless claims last week ***
21:30 U.S. October PPI
22:00 Fed Vice chairman speaks *
23:00 Fed chairman Powell testifies ***
24:00 U.S. EIA crude oil inventories last week **

Euro/dollar
1.1015/1. 1025 resistance
1.0980/1.0970 support
European central bank monetary policy, keep lower - interest policy and economic data did not see any growth. The lack of interest in investing bearish in the Euro. Estimates of no growth or decline in GDP in Germany and the Eurozone will be released today. Before the results are released, we believe the euro will maintain its downward trend against the dollar. Expectations for U.S. jobless claims and October PPI were positive for the dollar and bearish for the Euro today. Please pay attention!

British pound to US dollar
1.2880/1.2890 resistance
1.2820/1.2800 support
Yesterday, the UK released weak economic data for October, which was bearish for pound. This analysis yesterday pointed to weak UK job data, which weighed on the UK CPI and retail price data for October and was bearish for pound. British retail sales data for October were expected to be affected today, bearish for pound. Meanwhile, keep an eye on U.S. economic data and Fed chairman Powell testimony at the federal reserve, keeping an eye on the future direction of monetary policy.

Australian dollar to US dollar
0.6865/0.6875 resistance
0.6830/0.6820 support
Market worries about Reserve Bank of Australia interest rate cut, affecting investment confidence in the Australian dollar, bearish Australian dollar. Besides, the US President comments on the trade deal, the investment climate pressure, and the Australian dollar has a chance to break through 0.6820 support. If the atmosphere improves, it could bullish AUDUSD and test 0.6875 resistance.

Dollar/Japanese yen
109.05/109.15 resistance
108.70/108.60 support
The US President comments on trade talks has affected investment sentiment. Dow futures fell once, fell against the yen, the dollar to follow. Technically, the USDJPY trend is expected to maintain 108.60 support to 109.15 resistance. If Dow and Nikkei futures extend their losses, the dollar could test 108 again against the yen. Conversely, if Dow and Nikkei futures rise, the dollar could test 109.40 against the yen.

U.S. dollar to Canadian dollar
1.3265/1.3275 resistance
1.3215/1.3205 support
The Bank of Canada said it was dovish and was expected to be planning to cut interest rates. The US President talks stance on trade deals threatens international trade and investment sentiment, indirectly bearish the Canadian dollar. Due to global crude oil and energy reports and API crude oil inventories, bullish crude oil prices, bullish Canadian dollar in the short term.

United States crude oil futures
57.65/57.75 resistance

56.80/56.70 support
US President talks on trade deals, his intention to impose import tariffs, has affected investment sentiment, has been bearish for crude oil prices. But, the international crude oil and energy report and the U.S. API crude oil inventory boosted crude oil prices. Technically, $57.75 as one of significant resistance, if no breakthrough, the initial target is $56.70.

Gold
1468/1470 resistance
1456/1454 support
U.S. President comments affected trade talk and bullish gold prices. Technically, if gold breaks through resistance at $1468 or $1470, it could continue to upward. Pay attention to the U.S. President's remarks and Fed chairman Powell's testimony at the federal reserve to watch the future direction of monetary policy. Believe that affect investment sentiment, affect the gold price. If Dow futures downward, gold is expected to rise, look for first resistance at $1,468.

U.S. Dow Jones industrial average futures US30
27785/27825 resistance
27550/27420 support
The U.S. President negative comments, market sentiment and risk aversion, which affected investment sentiment. Expect U.S. President's remarks; investment atmosphere will be nervous, bearish Dow futures. Also, Fed Chairman Powell gave testimony at the federal reserve, looking at the future direction of monetary policy, affecting the performance of the stock market. Technically, if Dow futures have a chance to fall, they could test 27550 or 27420 support, and a break above 27420 could extend the decline.

BTCUSD:
9180/ 9280 resistance
8500/ 8350 support
Technically, the cryptocurrency demand decreased, the trend bearish Bitcoin price. If break US8350 support, look at US7885 support. Without any good news for cryptocurrency, the bitcoin price could keep downtrend.

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.

Legal: AT Global Markets Limited (ATGM, registration number 24226 IBC 2017). ATGM is an International Business Company in Saint Vincent and the Grenadines.

 

[Kelly Yeung]

For more analysis check out, please click the below link:


Market Analysis by ATFX Global Chief Market Strategist - Alejandro Zambrano

ATFX is a co-brand shared by a number of different entities globally including:

• AT Global Markets (UK) Limited in the United Kingdom regulated by FCA;
• ATFX Global Markets (CY) Limited in Cyprus regulated by CySEC;
• AT Global Markets Limited registered in the Financial Services Authority (FSA) in Saint Vincent and the Grenadines;
• AT Global Markets Intl Ltd in Mauritus is licensed by the Financial Services Commission (FSC) and;
• AT Capital Markets Limited is a rep office of ATFX Global Markets (CY) Limited regulated by Financial Services Regulatory Authority (FSRA) and CySEC. AT Capital Markets Limited deals with Professional clients only.

 

[Kelly Yeung]

ATFX-A Global Leader in Online Trading
ATFX Market Outlook, 2019 Nov 15

Personal opinions today:

Fed Chairman Powell, appearing at the hearing, said the Fed was not considering cutting interest rates again, supporting the dollar but limiting gains in U.S. Dow futures. Investors continued to focus on the U.S. government, giving pressure on trade policy and risk aversion continued. Earlier, the US President said he would consider imposing additional tariffs if trade deals failed to meet US interests, threatening other countries with trade deals that would benefit the US economy. Investment risk aversion increased, bullish gold prices. The Canadian dollar fell less on the positive side of the US-Mexico-Canada trade deal. In other news, the market digested last week's drop in U.S. API and EIA crude oil inventories, reversing the trend in crude oil prices.

Today's European trading session, the Eurozone October CPI annualized final value, is the focus of the market. Compare to the recent German data; the Eurozone data is expected to end October with a similar annualized consumer price index, limiting the Euro’s gains. During U.S. trading hours, the market is looking at the monthly rate of U.S. retail sales in October, and market estimates are up from previous levels. Before tonight's U.S. data, bullish dollar, also bullish Dow futures and crude oil prices. The dollar could then adjust for a fall in the absence of significant U.S. data early next week. Dow futures and crude oil prices may also follow suit, with opportunities to be bullish on gold and silver.

[Important financial data and events]
Note: * is the degree of importance

11:00 Bank of Canada governor Charles speech ***
17:00 IEA releases monthly oil market report **
18:00 Eurozone September trade account **
18:00 Eurozone October CPI ***
21:30 New York Fed manufacturing index **
21:30 U.S. October retail sales ***
22:15 U.S. October industrial output **
23:00 U.S. September business inventories *

Euro/dollar
1.1030/1. 1040 resistance
1.0990/1.0980 support
The Eurozone economy did not perform well, and investors lacked interest in investing in the Euro by easing monetary policy. Estimate the final annual rate of CPI in Eurozone today is keeping low. Before the release, the Eurodollar is expected to maintain a downward trend. Expectations that U.S. retail sales rose in October were bullish for the dollar and bearish for the Euro.

British pound to dollar
1.2880/1.2890 resistance
1.2820/1.2800 support
Recent British economic data for October have been mostly weak and bearish for pound. UK retail sales data for October were affected, which was bearish for pound. Market opinion polls have suggested that Britain's ruling conservative party could win the election in December, bullish the pound. Short-term focus on today's US economic data forecast, bullish for the dollar, bearish for pound.

Australian dollar to US dollar
0.6800/0.6805 resistance
0.6775/0.6765 support
Market worries about Reserve Bank of Australia cut interest rate next week, lost investment confidence in the Australian dollar, bearish Australian dollar. Besides, the United States government giving pressure and threatening trade negotiations. On the other hands, Fed chairman said no intend to cut interest rate, bearish for the Australian dollar. The Australian dollar finally broke through 0.6820 support. The Australian dollar is expected to remain low against the U.S. dollar ahead of next week's RBA meeting. Also, limit gains in the New Zealand dollar.

Dollar/Japanese yen
108.75/108.85 resistance
108.45/108.35 support
Against Muti international trade deals risk on and following the rising gold prices, USDJPY fell. If Dow and Nikkei futures extend losses, the USDJPY could test 108.35 or 108.00. Conversely, if Dow and Nikkei futures rise, the USDJPY could test 109.40.

U.S. dollar to Canadian dollar
1.3265/1.3275 resistance
1.3215/1.3205 support
The Bank of Canada said it was dovish and was expected to be planning to cut interest rates. The Canadian dollar fell by the tough talk and talk of an earlier US President's trade deal with Canada. Last night the US government said it would be able to resolve the issue by the end of the year. But crude oil and energy reports and U.S. oil inventories indirectly limited crude prices and indirectly limited the rise in the Canadian dollar. Technically, the USDCAD is expected first to explore 1.3215 or 1.3205 support. The market is watching the bank of Canada governor David speak before noon today.

United States crude oil futures
57.35/57.55 resistance
56.05/55.75 support
The international crude oil and energy report and the U.S. crude oil inventory report did not boost crude oil demand, indirectly failed to bullish crude oil prices, the trend reversed. Technically, the $57.75 resistance succeeded without breaking through the resistance. According to yesterday's analysis, crude oil price adjustment, the initial target is expected to be $56.70, then look at 56.05 support.

Gold
1475/1477 resistance
1464/1462 support
International trade concerns by the U.S. President's comments, which cooled risk aversion and bullish gold prices. Technically, gold broke through resistance at $1468 and $1470 in the first phase, and the price could continue to rise. Due to U.S. President's remarks and federal reserve chairman Powell's testimony at the federal reserve, monetary policy orientation is still likely to be affected by the economic slowdown, bullish gold prices. If Dow futures go down, gold could rise. Note the Dow futures, Asian index futures, as a reference.

U.S. Dow Jones industrial average futures US30
27925/28005 resistance
27650/27420 support
Dow futures rose after the U.S. and China planned to sign the first phase of a trade deal next month and the U.S. President agreed to resolve a US-Mex-Canada trade deal by the end of the year. Besides, Dow Jones industrial average futures are expected to post again in U.S. retail sales today. But in testimony to the federal reserve, Fed Chairman Powell said he would not consider cutting interest rates in the future, which could affect the bearish stock market. If U.S. retail sales are only in line with expectations, Dow futures could adjust. Technically, if Dow futures have a chance to fall, they could test 27650 or 27420 support, and a break above 27420 support could extend the decline.

BTCUSD:
9180/ 9280 resistance
8500/ 8350 support
Technically, the cryptocurrency demand decreased, the trend bearish Bitcoin price. If break US8350 support, look at US7885 support. Without any good news for cryptocurrency, the bitcoin price could keep downtrend.

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.

Legal: AT Global Markets Limited (ATGM, registration number 24226 IBC 2017). ATGM is an International Business Company in Saint Vincent and the Grenadines.

 

[Kelly Yeung]

For more analysis check out, please click the below link:


Market Analysis by ATFX Global Chief Market Strategist - Alejandro Zambrano

ATFX is a co-brand shared by a number of different entities globally including:

• AT Global Markets (UK) Limited in the United Kingdom regulated by FCA;
• ATFX Global Markets (CY) Limited in Cyprus regulated by CySEC;
• AT Global Markets Limited registered in the Financial Services Authority (FSA) in Saint Vincent and the Grenadines;
• AT Global Markets Intl Ltd in Mauritus is licensed by the Financial Services Commission (FSC) and;
• AT Capital Markets Limited is a rep office of ATFX Global Markets (CY) Limited regulated by Financial Services Regulatory Authority (FSRA) and CySEC. AT Capital Markets Limited deals with Professional clients only.

 

[Kelly Yeung]

Personal opinions today:

The Eurozone final annual CPI reading for October was similar to the previous one, limiting the Euro’s gains, U.S. retail sales rose in October as market estimates showed, and the impeachment of the U.S. President in congress affected the sentiment for dollar. The market is watching the FOMC minutes to gauge the fed's December monetary policy direction. Now today, please pay attention to the ECB vice President and the Bank of England chief economist and monetary policy committee member speech, it could affect the performance and trend of all European currency.

[Important financial data and events]
Note: * is the degree of importance

17:00 Vice-president of ECB, Luis DE Guindos speech **
21:20 Philip Lane, Chief economist of the ECB, interviewed **
23:00 NAHB housing market index for November *
To be confirmed Chief economist and member of the BOE monetary policy committee, Andy Haldane speaks **

Euro/dollar
1.1070/1. 1080 resistance
1.1020/1.1010 support
U.S. retail sales rose, bullish the dollar, bearish for the Euro. Before the close of the weekend, the U.S. President was impeached by the House of Representatives, the market looked at the minutes of the federal reserve board meeting and other factors, and the British parliamentary election poll was positive, which bullish the Euro. But for now, the market is on the sidelines, which could limit the Euro’s gains against the dollar. Preliminary hypothesis 1.1080 represents significant resistance.

British pound to dollar
1.2935/1.2945 resistance
1.2875/1.2865 support
Despite weak economic data in the UK in October, retail sales data in the UK in October were affected, which was bearish for pound. But polls suggest Britain's ruling conservative party could win an election in December, bullish the pound again. In a speech by Andy Haldane, chief economist and member of the bank of England's monetary policy committee today, it would estimate that the current economic outlook could be bearish for pound. Technically, focus on 1.2980 significant resistance. If there is no breakthrough, the trend continues to fall.

Australian dollar to US dollar
0.6825/0.6835 resistance
0.6785/0.6775 support
Market worries about Reserve Bank of Australia interest rate cut tomorrow, affecting investment confidence in the Australian dollar, the bearish sentiment may continue. Before the RBA decision, the Australian dollar was expected to stay low against the U.S. dollar and limit gains in the New Zealand dollar. But also pay attention to the progress of trade negotiations between international trade, consultation effect is not apparent, will be bearish for the Australian dollar.

Dollar/yen
108.95/109.05 resistance
108.70/108.60 support
International trade negotiations become the key to market confidence, and the relevant remarks will affect investment sentiment. If trade talks run into problems, sentiment heats up, the Dow futures and the Nikkei index futures fell, USDJPY fell. Conversely, if Dow and Nikkei futures rise, the dollar could see significant resistance against the yen at 109.40.

U.S. dollar to Canadian dollar
1.3235/1.3245 resistance
1.3185/1.3175 support
The US-Canada trade deal, which is expected to be signed in December, is likely to strengthen the Canadian dollar. The market expects progress in international trade talks and increased demand for crude oil in the Q4, which could boost the Canadian dollar if crude oil prices rise. It is recommended to keep an eye on the trend of crude oil price and understand the trend of the Canadian dollar.

United States crude oil futures
58.05/58.35 resistance
57.05/56.75 support
International trade talks are expected to make progress as demand for crude oil increased in the Q4. Technical, $57.75 resistance success, the recommendation to wait and see 58.35 resistance. In contrast, if international trade talks run into trouble and crude prices adjust, the initial target could be $56.75.

Gold
1472/1474 resistance
1462/1460 support
Fed chairman Powell testified at the Fed monetary policy was leaning toward the sidelines. If the economic data slowdown impact, bullish gold price. If Dow futures go down, gold could rise. If the U.S. and international trade talks succeed and risk aversion cools, Dow futures will rise, and gold will have more of a chance to fall. An initial target of $1460 is supported, with further trials of $1450 or $1448 possible.

U.S. Dow Jones industrial average futures US30
28005/28125 resistance
27830/27750 support
The US President has agreed to resolve the US-Mexico- Canada trade deal by the end of the year. Dow futures rose as the international trade climate improved in support of an agreement between China and the United States next month and hopes for a successful conference call tomorrow. Markets are watching the minutes of the fed's monetary policy meeting and progress in international trade negotiations. Technically, if Dow futures adjust to falling, it could test 27830 or 27750 support.

BTCUSD:
8980/ 9180 resistance
8350/ 7885support
Technically, the cryptocurrency demand decreased, the trend bearish Bitcoin price. If break US8350 support, look at US7885 support. Without any good news for cryptocurrency, the bitcoin price could keep downtrend.

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.

Legal: AT Global Markets Limited (ATGM, registration number 24226 IBC 2017). ATGM is an International Business Company in Saint Vincent and the Grenadines.

 

[Kelly Yeung]

Legal: AT Global Markets Limited (ATGM, registration number 24226 IBC 2017). ATGM is an International Business Company in Saint Vincent and the Grenadines.

 

[Kelly Yeung]

ATFX-A Global Leader in Online Trading
ATFX Market Outlook, 2019 Nov 19

Personal opinions today:

The US President has no intention of scrapping the extra tariffs, and investment will fall. U.S. Dow futures failed to close higher, international crude oil prices also failed to close higher. The dollar fell below 108.6 against the yen as Dow futures fell and gold and silver prices rose. The dollar fell as markets focused on the impeachment of the U.S. President by congress and the release of the FOMC minutes soon. European currency analyst comments by banking institutions, it is expected that the Brexit will be solved in the first quarter of 2020. The European central bank has no intention to increase monetary policy significantly and cut interest rates. Expect the Euro and pound next year rebound momentum will be more obvious, suggested by the end of this year, the European currency can consider low absorption. Gold prices, along with monetary policy from the European central bank and the federal reserve, are bearish.

Note: * refers to the degree of importance

08:30 RBA minutes **
15:00 Swiss October Trade account **
17:00 Eurozone current account **
19:00 UK CBI industrial orders difference *
21:30 U.S. building permits **
21:30 U.S. housing starts total **
22:00 Federal reserve Williams speaks ***
The next day 05:30 U.S. API crude oil stocks ***

Euro/dollar
1.1085/1. 1100 resistance
1.1055/1.1045 support
The dollar index fell as the U.S. President was impeached by congress and watched the minutes of the federal reserve board meeting. Polls in the UK parliamentary election were positive, and an analysis by the banking institute showed that the Euro gained indirectly as monetary easing by the European central bank and Brexit became clear. But for now, markets are waiting for the federal reserve to release its monetary policy record on Thursday morning. But it could start to limit the Euro’s gains against the dollar.

British pound to dollar
1.2935/1.2945 resistance
1.2875/1.2865 support
Opinion polls suggest Britain's ruling conservative party could win an election in December, leaving the EU in place and allowing an orderly Brexit by the end of January to resolve the crisis and boost pound. Technically, short-term focus 1.2980 important resistance. If there is no breakthrough, the trend may adjust, suggest a correction to 1.2820 or below, and then see the situation to buy pound dollar and other related cross.

Australian dollar to US dollar
0.6825/0.6835 resistance
0.6775/0.6765 support
Reserve Bank of Australia monetary policy, pessimistic stance, looking forward to moderate economic growth in the future, affecting investment confidence in the Australian dollar. On the other hand, the Australian dollar faces the international trade tariff dispute, if not resolved early, the Australian dollar rise against the United States dollar is limited, and limit the rise of the New Zealand dollar. Keep in mind that international trade disputes can be resolved by mid-december. If the short - term trade negotiations progress, ready to boost the Australian dollar. At the recommended level of 0.67, the aussie has a chance to rebound.

Dollar/Japanese yen
108.80/108.90 resistance
108.30/108.20 support
International trade disputes, the President of the United States investment will affect the mood of speech, the Dow futures and the Nikkei index futures may extend to fall against the yen, the dollar fell. On the contrary, if the issue is resolved or expected to cool down, Dow and Nikkei futures are up and the dollar could see significant resistance against the yen, 109.05 and 109.40.

U.S. dollar to Canadian dollar
1.3235/1.3245 resistance
1.3185/1.3175 support
The market expects progress on the U.S. -Canada trade deal to be made within December and boost demand for crude oil in the fourth quarter, which could boost the Canadian dollar if oil prices rise. In contrast, any international trade dispute could affect Canadian exports and oil prices. It is recommended to keep an eye on the trend of crude oil price and understand the trend of Canadian dollar.

United States crude oil futures
57.35/57.55 resistance
56.05/55.85 support
U.S. President remarks, which renewed an international trade dispute, reduced demand for crude oil in the fourth quarter. Technically, the current international trade negotiations have run into problems, the crude oil price adjustment, the first target is expected to be $56.75. If the trade dispute intensifies, U.S. crude oil futures could test 55.85 support.

Gold
1478/1480 resistance
1467/1465 support
U.S. President speaks against trade talks, venture capital sentiment has cooled and risk aversion has increased, Dow futures have pared gains and are likely to fall further, and gold prices have seen more downside opportunities. If events do not resolve in the short term, gold can test resistance at $1,480. Gold could also break through that resistance, depending on the downward trend in Dow futures.

U.S. Dow Jones industrial average futures US30
28080/28125 resistance
27830/27750 support
The US President has agreed to resolve a trade deal with Mexico and Canada by the end of the year. But hopes of a successful trade deal between China and the United States next month, which is likely to be repeated, could bullish Dow futures after a phone call between the two countries tonight. Markets are watching the minutes of the fed's monetary policy meeting and progress in international trade negotiations. Technically, if Dow futures adjust to fall, it could test 27830 or 27750 support.

BTCUSD:
8380/ 8480 resistance
7950/ 7885support
Technically, the crypto currency demand decreased, the trend bearish Bitcoin price. Now the bitcoin price break US8350 support, looking at US7885 support. Without any good news for crypto currency, the bitcoin price could keep downtrend.

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.

Legal: AT Global Markets Limited (ATGM, registration number 24226 IBC 2017). ATGM is an International Business Company in Saint Vincent and the Grenadines.

 

[Kelly Yeung]

For more analysis check out, please click the below link:

Market Analysis by ATFX Global Chief Market Strategist - Alejandro Zambrano
ATFX is a co-brand shared by a number of different entities globally including:

• AT Global Markets (UK) Limited in the United Kingdom regulated by FCA;
• ATFX Global Markets (CY) Limited in Cyprus regulated by CySEC;
• AT Global Markets Limited registered in the Financial Services Authority (FSA) in Saint Vincent and the Grenadines;
• AT Global Markets Intl Ltd in Mauritus is licensed by the Financial Services Commission (FSC) and;
• AT Capital Markets Limited is a rep office of ATFX Global Markets (CY) Limited regulated by Financial Services Regulatory Authority (FSRA) and CySEC. AT Capital Markets Limited deals with Professional clients only.

 

[Kelly Yeung]

ATFX-A Global Leader in Online Trading
ATFX Market Outlook, 2019 Nov 20

Personal opinions today:

US President Donald trump believes the federal reserve should cut interest rates further to promote rapid economic growth. Fed officials responded the current rates were appropriate. But federal regional officials said they were looking at a possible slowdown in U.S. consumption and retail sales in the fourth quarter, suggesting a rate cut was possible. The dollar index fell on the comments. In addition, the US President pressed lawmakers on international trade, urging congress to pass the US-Mexico-Canada trade agreement as soon as possible to improve the investment climate. Dow futures reversed course and the Dow closed down over 100 points. The dollar fell against the Japanese yen, recovering $1,470 in prime time. In addition, crude oil prices fell last week amid a sharp increase in U.S. API crude oil inventories and tensions over international trade.

Key data today include German PPI for October and Canada CPI for October. The FOMC minutes at 03:00 tomorrow morning, and the market is waiting to see if there is any possibility of the Fed cutting interest rates. It is expected to be negative for the dollar, bullish for other currencies against the dollar, and bullish for gold and crude oil before the release of the FOMC minutes. But the move could reverse after the announcement.

Note: * refers to the degree of importance

15:00 Germany PPI **
21:30 Canadian CPI ***
23:30 U.S. EIA crude oil inventory last week **
The next day 03:00 FOMC minutes***

Euro/dollar
1.1090/1. 1100 resistance
1.1055/1.1045 support
The US President criticized the federal reserve for the slow pace of interest rate cuts that stymied the economy. In addition, the market is watching the FOMC minutes, the dollar index fell. In addition, British parliamentary election polls positive, indirectly bullish Euro. The Euro challenged the 1.10 level ahead of the FOMC minutes. Technically, the 1.10 level could limit the Euro’s gains against the dollar.

British pound to dollar
1.2935/1.2945 resistance
1.2875/1.2865 support
U.K. research that U.K. conservative party has a good chance of winning the general election and could smooth Brexit next year, bullish the pound. On the other hand, the US President mentions the Fed for the slow pace of interest rate cuts, and some Fed officials said they were dovish, bearish for the dollar and positive for pound. Technical, short-term focus on 1.2945 and 1.2980 important resistance. If there is no breakthrough, the trend may adjust, suggest a correction to 1.2820 or below, in line with the GBP/USD trend, may affect other related cross rate.

Australian dollar to US dollar
0.6845/0.6855 resistance
0.6800/0.6785 support
The reserve bank of Australia's monetary policy record eased market pessimism and boosted Australian dollar investment confidence. Progress in international trade talks could help boost the Australian dollar. The recommendation supports the aussie at 0.67 and then has the opportunity to rebound. The key is the FOMC minutes and the Fed interest cut.

Dollar/Japanese yen
108.75/108.85 resistance
108.30/108.20 support
Trade tensions, Japan's trade account turned downward, bearish Japanese yen. But by the US President dovish speech and the Dow futures and the Nikkei stock index futures fell, the dollar fell against the yen to follow movements. For now, the key is the FOMC minutes and the direction of Fed interest rates. If Dow and Nikkei futures rise again, the dollar could find significant resistance against the yen.

U.S. dollar to Canadian dollar
1.3290/1.3300 resistance
1.3245/1.3235 support
Progress on the US-Canada trade deal was expected to signed in December. Unfortunately, the negotiations continue. In addition, the latest API crude oil inventories increased, if crude oil prices fell, a bearish Canadian dollar. If there is no good news on the US-Canada trade deal and crude oil prices continue to fall, the USDCAD could break through 1.3300 resistance.

United States crude oil futures
56.35/56.55 resistance
55.05/54.85 support
The US President's comments have again sparked controversy over international trade and hurt demand for crude oil. U.S. API crude oil inventories rose sharply, further bearish crude oil prices. Technically, the current international trade negotiations encountered problems, crude oil price adjustment. The original target of $56.75 breakthrough, more breakthrough $55.85 support, now wait and see $54.85 support. If the FOMC minutes record proves dovish, crude oil price could rebound.

Gold
1478/1480 resistance
1467/1465 support
Dow futures fell after hitting record highs as U.S. trade talks with the world faltered, the U.S. President took a tough line, venture capital sentiment cooled and risk aversion increased. And may continue to fall, gold prices on the downside opportunities increased. If events do not resolve in the short term, gold can test resistance at $1,480. In addition, if the FOMC minutes showed dovish, gold could rise. Technically, depending on the trend in Dow futures, gold could break through $1,480 resistance if the Dow future trend remains down.

U.S. Dow Jones industrial average futures US30
28080/28125 resistance
27830/27750 support
The US-Mexico-Canada trade deal and the trade deal with China are still under negotiation, but there is no new progress. It is not confirmed whether the agreement with the US can be signed in mid-December, which affects the improvement of the sentiment. China's failed trade talks with the U.S. reversed gains in Dow futures. Currently, the market is watching the minutes of the FOMC and believes that Dow futures are still adjusting for their recent gains ahead of the release. In the near term, this analysis indicates that the technical correction of Dow futures down, will likely test 27830 or 27750 support.

BTCUSD:
8380/ 8480 resistance
7950/ 7885 support
Technically, the crypto currency demand decreased, the trend bearish Bitcoin price. Now the bitcoin price break US8350 support, looking at US7885 support. However, US President and Fed officials comments, it could cut interest rate. That is good news for crypto currency, the bitcoin price could reverse and 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.

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[Kelly Yeung]

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