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ATFX Market Update - May 2019

Discussion in 'Company Articles' started by Kelly Yeung, May 2, 2019.

  1. Kelly Yeung

    Kelly Yeung ATFX.com Representative

    Joined:
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    Messages:
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    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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  2. Kelly Yeung

    Kelly Yeung ATFX.com Representative

    Joined:
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    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.
     
  3. Kelly Yeung

    Kelly Yeung ATFX.com Representative

    Joined:
    Mar 28, 2018
    Messages:
    270
    Likes Received:
    3
    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.
     
  4. Kelly Yeung

    Kelly Yeung ATFX.com Representative

    Joined:
    Mar 28, 2018
    Messages:
    270
    Likes Received:
    3
    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.
     
  5. Kelly Yeung

    Kelly Yeung ATFX.com Representative

    Joined:
    Mar 28, 2018
    Messages:
    270
    Likes Received:
    3
    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.
     
  6. Kelly Yeung

    Kelly Yeung ATFX.com Representative

    Joined:
    Mar 28, 2018
    Messages:
    270
    Likes Received:
    3
    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.
     
  7. Kelly Yeung

    Kelly Yeung ATFX.com Representative

    Joined:
    Mar 28, 2018
    Messages:
    270
    Likes Received:
    3
    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.
     
  8. Kelly Yeung

    Kelly Yeung ATFX.com Representative

    Joined:
    Mar 28, 2018
    Messages:
    270
    Likes Received:
    3
    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

    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.
     
  9. Kelly Yeung

    Kelly Yeung ATFX.com Representative

    Joined:
    Mar 28, 2018
    Messages:
    270
    Likes Received:
    3
    Personal opinions today:

    The U.S. economy has been dragged down by rising tensions between China and the United States. Last week, U.S. durable goods orders fell negative 2.1 percent in April from a positive 2.6% the previous month. Any currencies against USD and Precious metal price rose. Dow limited gains last week.

    The British prime minister steps down; the market is waiting for a new prime minister. British P.M. Theresa may have resigned as Britain's prime minister, giving her a chance to change the terms of the Brexit negotiations. Positive for British pound in short but not for long.

    [Important financial data and events to watch]
    US and UK markets are closed for a holiday
    Precious metals, U.S. crude oil and FX market were closed early
    09:30 annual profit of industrial enterprises above designated size in China in April
    11:00 Bank of Japan governor speaks at the T20 summit
    13:00 Japan March leading indicator
    22:00 Canada National economic confidence index


    Today's suggestion:
    EURUSD

    1.1185/1.1165 support
    1.1220/1.1240 resistance
    A drop in U.S. durable goods orders in April, coupled with earlier data showing a decline in U.S. manufacturing purchasing managers index and retail sales, pointed to a slowdown in the economy. The dollar fell, and the euro rebounded from its lows. Technical reference resistance of 1.1220 and 1.1240, if the market reflects ahead of time the expected drop in U.S. first-quarter real GDP revisions on Thursday, the dollar will continue to fall, bullish the euro. Of course, important data out of the eurozone and Germany in a few weeks should be noted. Support levels moved to 1.1185 and 1.1165. Short term is expected to maintain the 1.1200 level, look at the 1.1240 targets.

    GBPUSD
    1.2740/1.2755 resistance
    1.2670/1.2655 support
    The dollar fell on weak U.S. economic data. Besides, British prime minister Theresa May announced her resignation and remained in office until June 7. Progress on Brexit is expected to change, with the pound rebounding. Of course, the next prime minister is yet to be confirmed, and his successor will be crucial to Brexit policy. Technically, the important reference resistance level of the GBPUSD rose to 1.2755. If the resistance level did not break, the trend continues to go down, try 1.2655 support level.

    AUDUSD

    0.6940/0.6960 resistance
    0.6905/0.6880 support
    U.S. economic data disappointed, the dollar fell, indirectly bullish Australian dollar. The Australian dollar's rally widened to 0.69 percent after U.S. President Donald trump's bullish comments cooled a trade war between China and the United States following a stock market decline. Technically, there are still downside risks to the AUDUSD trend. The Australian dollar temporarily rose, the rise is expected to continue, on the test 0.6940 and 0.6960 resistance. If the US and China trade talks are confirmed in the short term, there will be reasons to support the continued rise of the Australian dollar. Almost, the New Zealand dollar has the same purpose of waiting for a rebound. Tomorrow morning, the Australian consumer confidence index is watching.

    USDJPY

    109.70/109.90 resistance
    109.35/109.15 support
    The dollar fell against the yen after the Dow Jones industrial average fell after U.S. durable goods fell sharply in April. Fortunately, the US President made a speech to cool down the US and China trade war, which led to the rise of Dow index and Nikkei index and the recovery of the US dollar against the Japanese yen. Today, though, the US and UK holidays, failed to refer to the relevant stock market trends. But look to Asian stocks; The Nikkei, for example, looks for a dollar-yen road map.

    USDCAD

    1.3480/1.3505 resistance
    1.3405/1.3380 support
    The Canadian dollar rose after crude lost $60 to $57. Technical trend, dollar resistance against the Canadian dollar at $1.3505, support at $1.3405. On Wednesday, Canada raised interest rates in anticipation of a rise in the Canadian dollar. Short term advice to keep an eye on crude oil prices, if crude oil prices continue to fall, the U.S. dollar against the Canadian dollar or break above 1.3505.

    U.S. crude futures USOIL

    58.40/57.85 support
    59.05/60.05 resistance
    Crude oil prices fell last week as U.S. crude inventories for API and ElA rose. Besides, news that Russia and other non-OPEC members may oppose production cuts raises the prospect of an oversupply of crude oil, hurting prices. But the market temporarily digests the news, crude oil prices stopped rising. Technically, look for initial resistance at $60, with support below $58.40 and support at $57.85. Watch as U.S. API and ElA crude inventories are released on Wednesday. Note: USOIL future trading is closed early for the UK and US holidays.

    XAUUSD 1283/1280 support
    1293/1296 resistance
    The Dow Jones industrial average fell after U.S. economic data fell short of expectations and trade talks between China and the United States did not reopen soon. Moreover, the Fed has no interest rate hikes. A variety of factors have boosted gold prices. Technically, refer to the May 13 to 21 bounce. Support bits for 1283 and 1280 are tentative. Upward target resistance levels between 1293 and 1296. Note: precious metals trading is closed early for the UK and US holidays.

    U.S. Dow Jones industrial average futures US30

    25705/25855 resistance
    25415/25355 support
    U.S. holidays, no U.S. data, Dow futures closed early today. In this case, the Dow was little changed. Investors should pay attention to any related information US and China economic and trade, chase the trend of Dow futures. Current recommendations focus on the resistance at 25705 and 25855. Lower support bit targets 25415 and 25355.

    BTCUSD:

    8950 / 9250 resistance
    8550 / 8300 support
    Trade tension, investors are losing confidence in trading with traditional investments instruments. Moreover, Fed no intended to interest hike, the bitcoin demand increasing. Technically the bitcoin price breakthrough $8000 and reach $9000. 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.
     
  10. Kelly Yeung

    Kelly Yeung ATFX.com Representative

    Joined:
    Mar 28, 2018
    Messages:
    270
    Likes Received:
    3
    Personal opinions today:
    US President Trump was in Japan for talks on a trade deal. After the meeting he said they had reached an agreement, but gave no details. Later, US President Trump said publicly that The US trade department was not ready for trade talks with China. A week later, Trump changed his attitude after the visit Japan, China and US trade talks uncertainty, increasing market risks and affecting investment sentiment.
    Britain prime minister has resigned, waiting the formal a new leader. Markets expect the next British prime minister as having a chance to change on Brexit. But more than half of those who want to run for prime minister are in favour of a hard brexit. Thus it can be seen that the UK finally moves towards a no-deal Brexit, and the GBP weakens. In addition, various risks are heating up, expected that the downside risks to the stock market, money flows into gold and yen, and crude oil price rise may be limited to $60 to $61 resistance. Commodity currencies maybe fall.

    [Important financial data and events to watch]
    14:00 German Gfk consumer confidence index (June)
    14:00 Swiss trade account (April)
    17:00 Eurozone sentiment index and consumer confidence index (May)
    22:00 US consumer confidence index (May)
    22:30 the Dallas Fed business activity index (May)

    Today suggestion :
    EURUSD

    1.1175/1.1155 support
    1.1220/1.1240 resistance
    With the European elections under way and conservatives still holding a majority in parliament, the euro's stability was assured. Technical reference resistance continues at 1.1220 and 1.1240, with support at 1.1175 and 1.1155. If the market gives an early indication of a revised forecast for U.S. first-quarter real GDP on Thursday, a further drop in the dollar could be positive for the euro. Keep an eye out for German and eurozone consumer confidence data and euro zone economic and industrial sentiment data for May. The euro is expected to return above the 1.1200 level in the near term, looking at the 1.1240 target.

    GBPUSD
    1.2715/1.2740 resistance
    1.2635/1.2605 support
    The British prime minister announced resignation and remained in office until June 7 to await his successor. But the next prime minister, who is likely to back a hard brexit, has a chance to hit sterling hard. As the risk of a hard Brexit increasingly, some financial institutions are suggesting the pound could fall as low as 1.2 or even try 1.1. Technically, the GBPUSD reference resistance level of 1.2740. Trend continues to go down, try below 1.2635 or 1.2605 support.

    AUDUSD
    0.6930/0.6945 resistance
    0.6900/0.6880 support
    The trade war between China and the United States is still not over, the U.S. President once again expressed negative comments, the rise of the Australian dollar was blocked, but temporarily maintained the level of 0.69. Technically, there are still downside risks to the aussie trend. If the resumption of China-US trade talks is confirmed in the short term, there will be reasons to support the continued rise of the Australian dollar. Almost, the New Zealand dollar has the same reason to wait for a rebound. However, at present, there is no progress in the overall China and US trade talks. Please pay attention to the downside risks of the Australian dollar and the New Zealand dollar, and the AUDUSD may test the support of 0.6880.

    USDJPY
    109.70/109.90 resistance
    109.35/109.15 support
    Yesterday, the United States and the United States holiday, the global stock market reflect little, the dollar and the yen in a tight range. At present, the speech of the US President Trump, affected investment sentiment, the Dow and Nikkei fluctuate repeatedly and the dollar fluctuates against the yen. Invest in the dollar against the yen, the recommended reference to the Dow and Nikkei index, looking for a dollar-yen trend roadmap.

    USDCAD
    1.3470/1.3485 resistance
    1.3425/1.3405 support
    Crude oil prices rebounded to near $59, with the Canadian dollar following. The bank of Canada is expected to hold rates steady when the monetary decision meeting tomorrow. Technical focus , the dollar resistance against the Canadian dollar at $1.3485, support at $1.3405.

    U.S. crude futures USOIL
    58.40/57.85 support
    59.05/59.75 resistance
    Crude oil prices fell last week as U.S. crude inventories for API and ElA rose. The market is waiting to see tomorrow, release of the latest crude inventories. Technically, refer to initial resistance levels of $59.05 and $59.75, and support levels below $58.40 and $57.85. Crude oil prices will fall if U.S. API and ElA crude inventories increase, respectively. The more inventories rise, the more oil prices fall. And vice versa!

    XAUUSD

    1282/1280 support
    1290/1292 resistance
    The US economy is expected to slow and the Fed is expected to need to cut interest rates. Trade talks between China and the United States has not back to table, instability in the Middle East has seen the Dow Jones industrial average fall and Britain face increased risks of a hard Brexit. When stock markets reopened after the holidays in U.K. and US, markets had a chance to add up, money flow into gold and pushing up its price. Technically, 1282 and 1280 are supported. Upward target resistance 1290 and 1292.

    U.S. Dow Jones industrial average futures US30
    25705/25855 resistance
    25415/25355 support
    Yesterday, the U.S. holiday, no U.S. data, Dow futures closed early, the Dow little volatility. Investors continue to pay attention to information related to China and US economy and trade, especially comments from both sides, and grasp the trend of Dow futures. Still, the success of the US-Japan trade talks is expected to be a positive for stocks when the U.S. President visits Japan. But the most crucial trade talks between China and the United States remain stalled, with limited room for stocks to rise. Current recommendations focus on resistance at 25705 and 25855. Lower support targets at 25415 and 25355.

    BTCUSD:
    8950 / 9250 resistance
    8550 / 8300 support
    Trade tension, US data shown slow down. Expected Fed will not intended to interest hike, the bitcoin demand increasing. Technically the bitcoin price breakthrough $8000 and probably reach to $9000. Now, keeps watching the China and U.S. trade tension. If a positive outlook, bearish the price of Bitcoin. On 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.
     

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