ATFX Market Updates 2019

[Kelly Yeung]

Personal opinions today:
Yesterday, there were no essential data and news in the market, and the US dollar index continued to range, from 97.30 to 97.55. Dollar index by hour chart, the pattern shows three top. But today, the Eurozone release trade account for April, CPI for May, and the ZEW economic sentiment index for the Eurozone and Germany for June. These data will affect EUR performance. In the evening, the ECB President, Mario Draghi speech. The Eurozone data and Draghi remarks could affect the EUR and other European currencies. At the moment, markets are pricing in a contraction in Eurozone inflation and weaker economic sentiment from a month ago, which could weigh against the EUR and limit its gains.
The federal reserve monetary price meeting begins its first day tomorrow, and markets expect the Fed to hold its interest rate and monetary policy statements. The market is expected to cut rates when the Fed meeting in July. For now, the market is watching Fed chairman Powell hold a news conference, looking for the direction of the Fed's monetary policy. If the Fed says it plans to cut rates more than once in the third and fourth quarters of this year, it could affect investor confidence in dollar assets and the dollar in the second half of the year.
The short-term dollar index is expected to trade in a tight range between 97.30 and 97.55 resistance. Any stronger or weaker data in Eurozone data could have an impact on the US dollar.

[Important financial data and events]
09:30 RBA releases minutes
17:00 Eurozone trade accounts for April
17:00 Eurozone CPI monthly and annual final for May
17:00 Eurozone ZEW economic sentiment index for June
17:00 Germany ZEW economic sentiment index for June
20:30 U.S. building permits in May
20:30 U.S. housing starts in May
22:00 Bank of England governor Carney speech
22:00 ECB President Mario Draghi speech
Next day 04:30 U.S. API crude oil stocks

Today suggestion:
EURUSD
1.1245/1.1260 resistance
1.1190/1.1175 support
Eurozone economic data are expected to be weak, Eurozone inflation data expected to be weak. Eurozone CPI is likely to fall to 0.2 percent in May from the previous month, which is a notable downside risk ahead of the data release. Technically, the EURUSD hour chart to maintain a downward trend. Investors were watching the European group meeting, where European central bank President Mario Draghi speech in hopes of another round of good news to boost the euro. Looking ahead to the euro in the near term, the first resistance is 1.1245, with support at 1.1190.

GBPUSD
1.2560/1.2585 resistance
1.2485/1.2460 support
The candidate of Britain's governing conservative party, former London mayor Boris Johnson, who advocates a hard Brexit without a deal, has surged ahead of his rivals. The markets expect Britain to face a hard Brexit without an agreement on October 31st. On the negative side, if there is no good news to boost the pound, the expected trend will continue to be weak, and out of the pace of the euro, some fell. Currently, the GBPUSD broke 1.2558 pre-support level and will try the next level target of 1.2460. The EURGBP after adjustment, beak 0.8930 resistance. The EURGBP expect to test the 0.90 level.

AUDUSD
0.6880/0.6900 resistance
0.6845/0.6825 support
Minutes from the reserve bank of Australia's June monetary policy meeting showed the central bank was still considering another rate cut as a stimulus target. The Australian dollar has a chance to fall against the US dollar as interest rate cuts are expected to continue before the Australian economy rebounds. Technically, focus on AUDUSD break through 0.6900 support level, looking down 0.6845 and 0.6825 support. Moreover, the Fed's monetary policy meeting on Thursday cannot be ignored. About US monetary policy can change the AUDUSD trend, temporarily estimated AUDUSD around 0.6800 as a preliminary significant support level.

USDJPY
108.55/108.70 resistance
108.35/108.20 support
Fed rate cut expectations are rising, decisive of the Dow performance. The dollar followed the Dow and Nikkei. If the trade war between China and the U.S. continues, the Dow and Nikkei index is weak, limiting gains in related stock markets. The USDJPY is expected to limit resistance at 108.70, after which 108.35 and 108.20 support levels may be tested. Changes in market information suggest keeping an eye on how the Dow and Nikkei affect the dollar-yen trend.

USDCAD
1.3380/1.3360 support
1.3430/1.3445 resistance
U.S. crude oil prices, indirect bearish Canadian dollar. If crude oil prices continue to fall, it will further bearish the Canadian dollar. Canada manufacturing orders and inventories for April were released in today, followed by inflation data for Canada tomorrow. The Canadian dollar remains bearish in two days of expected weak Canadian data. Currently reference support levels 1.3380 and 1.3360, resistance 1.3430 and 1.3445. Should the data turn out to be in line with market expectations, it could be worth bullish Canadian dollars. If crude oil prices rebound would be bullish the Canadian dollars.

Us crude oil futures USOIL
52.45/53.05 resistance
51.65/51.05 support
US API crude oil stocks increased last week, believe continue to be affected by the trade war between China and the US. The latest crude oil stocks release tomorrow. Expected increasing in crude stocks from last week would be bearish for oil prices. Otherwise, the price of crude oil will be higher. It is worth noting that seasonal demand factors may affect the decrease of crude oil demand, which may lead to the increase of crude oil stocks and limit the prices upward further. Technically, we can refer to 53.05 short-term significant resistance, 51.65 and 51.05 support and 50.70 considerable resistance.

XAUUSD
1346/1348 resistance
1336/1334 support
Fed officials, who have expressed concern about slowing global growth, are expected to cut interest rates in the second half of the year, boosting gold prices. With the Fed meeting starting tomorrow and expectations that the Fed may match the President's views for a cut-rate, gold has consolidated above $1330 and is testing resistance at $1346 and $1348, or would break through $1350. Short-term support at $1336 and $1334. Technically, gold prices above $1329 support level, the trend may reverse downward, please note.

U.S. Dow Jones industrial average futures US30
26250/26320 resistance
25960/25885 support
Ahead of the Fed meeting, the investment climate remained on the sidelines, with the U.S. Dow in a narrow range, with technical resistances 26250 and 26320. Supports 25960 and 25885. Key support 25620. No significant U.S. data is expected today, with the Dow remaining in a narrow range. But it must pay attention to President Trump, including views on monetary policy and China and US trade talks or deal. With positive deal, Dow could see resistance. If not, look down the support.

BTCUSD:
9510 / 9759 resistance
8720 / 8520 support
Trade tension, US economic data showed slow down. Expected Fed fund rate will cut, bullish the bitcoin. The bitcoin uptrend recently breaks US9000. Now, keeps watching the China and U.S. trade tension. If a positive outlook, bearish the price of Bitcoin. On the contrary, the Bitcoin will continue the uptrend.

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

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

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

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

 

[Kelly Yeung]

For my technical levels in EURUSD please see the video below.

For more analysis check out https://www.atfx.com/uk/en/technical-analysis/ and interact with Alex on Twitter at https://twitter.com/AlexFX00

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[Kelly Yeung]

Personal opinions today:
The federal reserve released the interest rate decision and policy statement after the end of the FOMC meeting. This time, the federal reserve evaluated the market and economic conditions in accordance with the established procedures and kept the interest rate unchanged, in line with market expectations. But at the Fed's press conference, the chairman revealed that would cut interest rates coms economy half of this year, with the market estimating cut 0.5 per cent in July and September. The dollar fell as markets assessed the direction of federal reserve interest rates. Interest rate cut expectations rose, bullish stocks, crude oil prices and gold prices. Expecting that, keeps the trend continues in Asian and European markets today.
In European markets will look to the UK retail sales rate in May and the BOE interest rate decision and minutes. In addition, U.S. jobless claims for the week ended June 15, U.S. current account data for the first quarter, and the Philadelphia Fed manufacturing index for June and the conference board's leading index for may all affected the dollar in short-term direction.

[Important financial data and events]
10:35 Reserve bank of Australian chairman Lowell speech
11:00 Bank of Japan announces interest rates decision
14:00 Swiss trade account for May
14:30 Bank of Japan governor holds a press conference
16:30 UK retail sales rate for May
19:00 Bank of England interest rate decision and minutes
20:30 US initial jobless claims
20:30 U.S. current account
20:30 US Philadelphia manufacturing index for June
Next day 04:00 Bank of England governor Carney speaks

Today suggestion:
EURUSD
1.1275/1.1290 resistance
1.1240/1.1225 support
After the Fed monetary policy statement, the dollar fell, finally boosting the euro. Technically, the euro broke through the first resistance of 1.1240, and the next step is to wait and see 1.1275 and 1.1290. Significant resistance level 1.1315. Reference support levels 1.1240 and 1.1225 should the euro adjust.

GBPUSD
1.2690/1.2720 resistance
1.2645/1.2620 support
The dollar fell amid rising expectations of a fed rate cut in the second half of the year. The price of crude oil has been boosted by the reopening of trade talks between China and the us. Today, the Bank of England interest rate decision and minutes, expected monetary policy unchanged, but may hint at future monetary direction. If the BOE revealed the rate cut, bearish GBP. The technical estimates are 1.2690 and 1.2720 as short-term resistance. Important resistance 1.2755, careful adjustment from higher resistance. The hour chart of EURGBP was adjusted to 0.8875 head and shoulder’s neck line, which is expected to rise against GBP, testing level of 0.8920 or above. If the breakthrough 0.8830 important support, trend may fall further.

AUDUSD
0.6925/0.6945 resistance
0.6875/0.6855 support
The planned reopening of trade talks has boosted the Australian dollar. The federal reserve's monetary policy suggests interest rate cuts in the second half year, bullish AUD. Technically, AUDUSD rebound, hit 0.6900 resistance level. With the federal reserve planning to cut interest rates, the Australian dollar is likely to break through resistance at 0.6900 to see resistance at 0.6945 or try resistance at 0.6975. Technical support on 0.6875 and 0.6855. The AUDUSD generally indirectly lead the trend of the New Zealand dollar against the U.S. dollar, is worth mutual attention.

USDJPY
108.20/108.40 resistance
107.35/107.20 support
China-US trade talks are scheduled to reopen, while the federal reserve plans to cut interest rates in the second half of the year. The bank of Japan announced monetary policy and the governor of the bank of Japan press conference today . The dollar is expected to rebound against the yen if the bank of Japan's monetary policy remains unchanged. The dollar was expected to trade above 108.20 yen and 108.40 yen in the first support zone, following gains in the Dow and Nikkei. Short term fluctuations, expected reference 107.35 and 107.20 support. Significant support 106.85.

USDCAD
1.3235/1.3220 support
1.3345/1.3360 resistance
U.S. crude oil prices rebounded, hitting $55. Yesterday, Canada released CPI, higher than market expectations, the Canadian dollar rose. The Fed signaled a rate cut in the second half, the Canadian dollar gains. Canada retail sales data for April release tomorrow, before the crude oil prices breaks US55 resistance, bearish on the Canadian dollar. Technically, the USDCAD 1.3235 is the lowest in early June, which can be judged as an important support level.

Us crude oil futures USOIL
54.85/55.10 resistance
53.85/53.55 support
The US President says trade talks with China will resume on the sidelines of the g20 summit, and the federal reserve plans to consider cutting interest rates in the second half of the year to boost oil prices. However, it is worth noting that due to seasonal demand, the trade war between China and the United States has not ended, which may continue to reduce the demand for crude oil. We believe that futures prices are likely to fall and limit the rise. Technically, you can refer to 55.10 significant resistance, looking down at levels 53 and 52 support. Significant support at the $50 level.

XAUUSD
1388/1395 resistance
1365/1355 support
The market expects the federal reserve will cut interest rates in the second half of the year, boosting gold prices. The expectations that the Fed could cut interest rates by 0.5% in the second half year, boosting gold prices. Earlier in Asia, speculative buying came in, gold price trading at $1,393.80. But investors were concerned that the planned reopening the trade talks between the United States and China boosted stocks and limited the short-term rise in gold prices. If the price of gold fails to rise to reference resistance of 1388 and 1395 after London trading hours, it would be the correction of gold price.Reference support of $1365 and $1355. Technically, gold prices above $1340 support level, trend may continue to fall, please note.

U.S. Dow Jones industrial average futures US30
26600/26700 resistance
26390/26250 support
The Dow future closed little higher after the FOMC policy meeting. The Fed did not cut interest rates at this meeting, limited boost to stocks. Technically, the Dow broke through 26520, which is expected to test the 26700 resistance. The market needs any positive news about the U.S. and China trade talks and deal, bullish the Dow break through the 26,700 barrier. If not, look down at the support 26390 and 26250 or lower.

BTCUSD:
9350 / 9550 resistance
9020 / 8850 support
The market expected Fed fund rate will cut in the second half year, bullish the bitcoin. The bitcoin uptrend recently breaks US9000 and test US9350 or US9550. However, we keep watching the China and U.S. trade talk end of this month at G20 leader summit. The US President said reopening of the US-China trade talks, it would bearish the price of Bitcoin.
Enjoy trading! The content is for reference only. Please do ensure that you understand the risk.

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

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

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

 

[Kelly Yeung]

Personal opinions today:

The federal reserve left interest rates unchanged after its meeting to assess market and economic conditions. But in a news release, some of the words in the minutes of the fed's rate-setting meeting were changed, assuming the central bank may cut rates this year. Market estimates suggest the fed could start cutting rates by an estimated totals 0.5%, next month and September. The dollar fell as interest rate differentials narrowed against other major currencies, raising fears of a contraction in the U.S. economy. Interest rate cut expectations, continue to benefit the stock market, crude oil prices and gold prices.

The German manufacturing PMI for June and the Eurozone manufacturing PMI for June were expected to fall today, which was bearish for the Euro and the Swiss franc. Next, US Markit manufacturing and services PMI readings for June and the total number of existing home sales in the United States for May are expected to rise, which is bullish for the dollar and indirectly bearish for European currencies. If u. s. economic data grows, the dollar will rise. Crude oil prices are expected to rise, while gold prices and commodity currencies are falling.

[Important financial data and events]
15:30 German manufacturing PMI for June
16:00 Eurozone manufacturing PMI for June
20:30 Canada retail sales rate in April
21:45 US Markit manufacturing PMI and service PMI for June
22:00 US total existing home sales for May

Today suggestion:

EURUSD
1.1315/1.1330 resistance
1.1270/1.1250 support
Fed monetary policy statement in June hinted at a 0.5% rate cut in the second half of the year, sending the dollar lower and boosting the euro. Technically, the Euro broke through resistance of 1.1275 and 1.1290 to reach 1.1315. Reference support levels 1.1270 and 1.1250 if the Euro adjust. Reference resistance levels 1.1315 and 1.1330. If EURUSD break through the recent high of 1.1345, the rise in EURUSD may further upward.

GBPUSD 1.2720/1.2740 resistance
1.2645/1.2620 support
The dollar fell amid rising expectations of a Fed rate cut in the second half of the year. Interest rate cuts helped stimulate the economy and brent crude oil prices rose as crude oil demand was forecast to rise. The Bank of England released the interest rate decision and meeting minutes, in line with expectations of unchanged monetary policy, did not indicate that monetary policy easing, the pound. But Britain's conservative party leadership election, support about no agreement to take off the biggest opportunity to win, the UK face bigger risks, bearish pounds. The technical estimates are 1.2720 and 1.2740 as short-term resistance. Important resistance 1.2755, pay attention to GBPUSD adjustment from high resistance. The Euro is expected to rise against GBP, with short-term support at 0.8875 and 0.8860, up from 0.8920. If the breakthrough 0.8830 important support, trend may fall further.

AUDUSD
0.6945/0.6960 resistance
0.6885/0.6870 support
The planned reopening of the US and China trade talks is expected to ease market tensions and boost the Australian dollar at next week's G20 summit. Federal reserve monetary policy hints to cut interest rates in the second half of the Australian dollar. Technically, the AUDUSD broke 0.6900 resistance then 0.6945 resistance or test 0.6975 important resistance. Support bits are currently focused on 0.6885 and 0.6870. The trend of the AUDUSD, generally indirectly leading the trend of the NZDUSD, is worth paying attention to each other.

USDJPY
107.25/107.10 support
107.70/107.85 resistance
Japan's core consumer price index fell in an annual and monthly rate, keeping it below the central bank's inflation target. The Nikkei stock average fell and the dollar fell as low as 107.22 against the yen. To estimate short-term fluctuations, refer to 107.25 and 107.10 support, important support bit 106.85. Upward resistance of 107.70 and 107.85. The Dow and Nikkei are up, on track to test 108.

Us dollar to Canadian dollar1.3165/1.3150 support
1.3215/1.3235 resistance
U.S. crude oil prices rebounded, topping $57 and gaining Canadian dollars. In addition, the Fed’s signs a rate cut in the second half of the year, pushing the Canadian dollar higher. Canadian retail sales for April were expected to fall today. If crude fails to meet its key resistance of $58, two factors could weigh against the Canadian dollar. Technically, USDCAD an important resistance level at 1.3235.

Us crude oil futures USOIL 57.65/58.15 resistance
55.85/55.15 support
The US and China trade talks would resume before the G20 summit and the federal reserve planned to consider interest rate cuts later this year, two factors that boosted crude oil prices. The market is watching next Tuesday's China and US trade ministers' consultation. If the trade war is eased, crude oil prices could continue to rise. On the other hand, crude oil prices are likely to fall if any negative news affects the demand for crude oil. Technically, we can refer to 58.15 as an important resistance. If breaks 55.85 and 55.15 support respectively, pay attention to continue to fall.

XAUUSD 1415/1425 resistance
1398/1388 support
The market is expected to cut Fed fund rates by 0.5 percent in the second half of the year, boosting gold prices. Earlier in Asia, speculative buying resumed and gold prices rose. But investors were concerned that gold's gains were limited by the planned reopening of the China and US trade talks, which boosted stocks. US1415 or 1425, would limited the gold price and test support levels of $1398 and $1388. Significant support levels of $1380 should the London session open.

U.S. Dow Jones industrial average futures US3026830/27000 resistance
26390/26250 support
The Dow future closed below 27000. The Fed did not cut interest rates, giving a reason limited stocks boost. Technically, the Dow expected to test the resistance of 27000. Because the market encouraged by the China and US trade talks next week. Positive news, bullish Dow. On the other hand, for anything bearish or negative from the US President, the Dow looks down, support levels 26390 and 26250.

BTCUSD:9950 / 10250 resistance
9550 / 9250 support
The market expected Fed fund rate will cut in the second half year, bullish the bitcoin. The bitcoin uptrend, broke US9550. However, we keep watching the China and U.S. trade talk end of this month at G20 leader summit. The US President said reopening of the US-China trade talks, it would bearish the price of Bitcoin. Now, suggest following the gold price’s trend to catch up the market sentiment.

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

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



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

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

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

 

[Kelly Yeung]

Personal opinions today:

Markets are looking forward to a meeting and trade talks between the heads of state of the United States and the leader of China at the G20 summit on Friday. If the trade talks between China and the United States can be resolved ahead of time, which could boost economic growth, the federal reserve could hold off cutting interest rates and bullish the dollar. But US President Trump has renewed his criticism of the Fed's comments, giving a pressure on the Fed. Although the US President cannot interfere in the decisions of the federal reserve, gold prices rose on Trump's remarks. Gold was trading at $1,428 when Asian markets opened today. The dollar fell against other major currencies, the euro rose to $1.14 and commodity currencies also gained.

Focus today, U.S. economic data and federal reserve officials, with a special focus on the total number of new home sales in May and a speech by federal reserve chairman Powell. Further tracking of the U.S. economic outlook and the monetary policy direction of Fed officials should follow the US President and increase interest rate cuts by more than market expectations.

[Important financial data and events]
18:00 UK CBI retail sales differential for June
20:30 Canada wholesale sales monthly rate in April
20:45 Fed Williams gives opening remarks
22:00 US new homes sales in May
22:00 US Richmond Fed manufacturing index for June
22:00 US consumer confidence index for June
The next day 01:00 Federal reserve chairman Powell speaks
The next day 04:30 U.S. API crude stocks

Today suggestion:

EURUSD
1.1405/1.1420 resistance
1.1380/1.1365 support
The Fed's monetary policy statement approach to a rate cut in the second half of the year, with markets expecting a half-percentage cut. Last night, US President Trump said the federal reserve should cut interest rates by half a percentage early in July, it comments that sent the dollar fall and boosted the euro. But in the short term, the euro could adjust lower in the absence of real economic data and fed action. Technically, the euro broke through 1.1345, the EURUSD upward expanded. Currently, it is estimated that 1.1405 and 1.1420 are important short-term resistance, and the lower support level is 1.1380 and 1.1365. Further attention can be paid to the support level of 1.1345.

GBPUSD
1.2755/1.2770 resistance
1.2705/1.2690 support
The Fed's monetary policy statement hinted at a rate cut in the second half of the year, with markets expecting a half-percentage cut. Last night, US President Trump said the federal reserve should cut interest rates by half a percentage early in July. It comments that sent the dollar fall and boosted GBP. The federal reserve and the US President cut interest rates to help stimulate the economy, UK oil prices continue to rise, is also positive GBP. But ahead of Thursday's conservative leadership election, Britain faces a big risk of limiting the GBP rise. Technically, short-term important resistance 1.2755 still failed to break through effectively, starting adjustment. Resistance level 1.2755, expect to try 1.2690 or below. If GBP losses widen, the EURGBP could try 0.8960 or 08970. After the attention trend may enter the consolidation, waiting for new information, the development of new trends.

AUDUSD
0.6975/0.6990 resistance
0.6940/0.6925 support
The trade consultation is scheduled for a ministerial meeting and looks forward to progress at the G20 summit on Friday. US President renewed his call for the federal reserve to cut interest rates by more than expected, bullish the Australian dollar. But it must be noted that the US President's words cannot influence the Fed's decisions. The key is to make progress in China and US trade negotiations, which can effectively bullish the Australian dollar and even the New Zealand dollar. Technically, the AUDUSD is looking at 0.6975 resistance or 0.6990. Support are focused on 0.6940 and 0.6925. The trend of the AUDUSD, generally indirectly leading the trend of the NZDUSD, is worth paying attention to each other. Normally, the NZDUSD follows the AUDUSD. Take note when investing in the NZD.

USDJPY
107.25/107.10 support
107.70/107.85 resistance
According to the minutes of the Bank of Japan today, which reported a fall in the core CPI for May, there was no clear target to ease monetary policy, failing to weaken the yen. The Nikkei index continued to fall as the US President's comments sparked expectations of a narrowing of the USDJPY spread, pushing the dollar back towards 107.25 or 107.10. Note that the market is expecting the restart the trade talks, which is expected to boost the investment sentiment and boost the stock market. To estimate short-term fluctuations, refer to 107.25 and 107.10 support, important support bit 106.85. Upward resistance of 107.70 and 107.85. If the Dow and Nikkei pick up again, they could try the 108 level.

USDCAD
1.3165/1.3150 support
1.3215/1.3235 resistance
The federal reserve has hinted at a rate cut in the second half of the year, and the US President has urged a rate cut as soon as possible. U.S. crude oil prices rebounded to $57, still in the Canadian dollar. At present, the market is watching the trade consultation meeting and the meeting together soon. If the talks go well, boosting crude prices could also boost the Canadian dollar. Instead, trade talks have stalled, with no good news. Crude oil prices fall, it will likely bearish the Canadian dollar. Technically, USDCAD 1.3235 is an important resistance level. The market on the sidelines, pay attention to the U.S. dollar against the Canadian dollar in the technical range fluctuations.

US crude oil futures USOIL
58.05/58.35 resistance
56.85/56.15 support
China and the United States have launched trade talks, with leaders of the two countries expected to meet at a summit on Friday. The Fed plans to consider a rate cut in the second half of the year, two factors that could boost oil prices. The market will be watching the release of API crude oil stocks tomorrow. Technically, the 85 percent rally in recent months low and high, with a target price of $58.35. In contrast, there is no good news in the trade talks, and crude oil futures are likely to fall, with an initial target of $56 support, and watch for further declines.

XAUUSD
1428/1433 resistance
1418/1413 support
The Fed is considering cutting interest rates, and the President issued the Fed to cut rates by half a percentage point in July. The rate cut was larger than market expected, boosting gold prices. Speculative buying returned to the Asian market today, lifting gold prices. However, it must be noted that if the trade talks resume and progress is made, it could boost the stock market and ease the expectation of interest rate cuts. The rise of gold price may not only be limited, but also be significantly adjusted. Advise keep a close eye during US trading hours.

U.S. Dow Jones industrial average futures US30
26815/26945 resistance
26515/26395 support
The Dow future closed in a tight range as investors wait and see if progress could be made at G20 meeting and China and US trade talks. Technically, the Dow future is expected to test resistance at 27000 and look for support at 26515 and 26395. The Dow future could break through 26245 if trade talks fail to make progress, with the trend likely to extend further to 26000.

BTCUSD:
11300 / 11550 resistance
10850 / 10550 support
The market expected Fed fund rate will cut in the second half year, bullish the bitcoin. However, we must keep watching the China and U.S. trade talk tomorrow and the G20 leader summit this Friday. Now, The US-China trade talks restart, it would be bearish the Bitcoin. Now, we suggest following the gold price’s trend to catch up the market sentiment.

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. Registered address is : the Financial Services Centre, Stoney Ground, Kingstown, St.Vincent & the Grenadines.

 

[Kelly Yeung]

ATFX-A Global Leader in Online Trading
ATFX Market Outlook, 2019 June 26

Personal opinions today:

US President Trump said the federal reserve should cut interest rates by half a percent in July and total one percent in the this year to boost the U.S. economy and prevent a slowdown from a trade war. The dollar has fallen and gold prices have risen, by Trump's comments. European currencies and other commodity currencies generally posted gains. Last night, Fed chairman Powell made it clear that the Fed is independent of politics and Washington policy. More clearly explains, if the U.S. economy, employment market and inflation slowdown, it will clearly consider cutting interest rates. He said the current U.S. economy does not require a half-percent interest rate cut. Only 0.25% cut in interest rates is enough to keep US growth and stable, even US inflation below 2 %. Gold prices rallied yesterday, falling to $1,415, after comments soothed fears that the federal reserve had cut interest rates too much. The dollar rose and against all major currencies and precious metals.

In addition, U.S. durable goods orders data in May are expected to rise sharply, compare with last month. And tomorrow, the United States will release its final estimate of first-quarter real GDP, which stands at 3.1 %. Believe that in the data forecast rise, the dollar can keep rising. In line with the Fed comments, European and commodity currencies are likely to limit gains and have room to fall.

[Important financial data and events]
14:00 German Gfk consumer confidence index for July
16:00 Swiss ZEW investor confidence index for Jun
17:15 Bank of England inflation report hearing in May
20:30 US durable goods orders in May
22:30 EIA crude oil stocks change

Today suggestion:

EURUSD
1.1380/1.1400 resistance
1.1345/1.1325 support
The federal reserve's monetary policy statement hinted at interest rate cuts in the second half of the year. The US President Trump has said the fed should cut interest rates by 0.5% in July. The Fed chairman explained last night. The Fed just consider to cut 0.25% interest rates which enough to against market risks. In addition, U.S. durable goods orders and real GDP growth in the first quarter were expected to increase and stabilize respectively, with the dollar rising and the euro falling. In line with expectations of yesterday's analysis, the euro fell. Technically, the euro hour chart shows forward resistance at 1.1345, which is the first time the EURUSD adjustment has shown support. If EURUSD fall further, you can note from June 18 till yesterday high and low adjustment ratio. 38.2% was adjusted to 1.1325 support. If 50%, would adjust to 1.1295.

GBPUSD
1.2710/1.2725 resistance
1.2705/1.2690 support
The Fed chairman commentary cooled US President Trump speech. The dollar rebounded and British pound fell. Meanwhile, UK faces a big risk of a hard brexit in the third round of conservative party leadership election tomorrow, with the news that hard brexit supporter Johnson is leading. The dollar has risen while the British pound has fallen sharply. It was down over 100 pips from yesterday to around 1.2680. Technically, GBPUSD continues to limit significant resistance at 1.2755 and has been tested at or below 1.2690. Further see the extension of the adjustment range, the target is 1.2640 and 1.2610 respectively. The Euro is likely to test 08970 against sterling, with further tests of 0.9000.

AUDUSD
0.6975/0.6990 resistance
0.6940/0.6925 support
Comments by the Fed chairman, cool down the US President's remarks the day before. The Fed chairman said the federal reserve did not need to cut interest rates by 0.5%, the dollar rose and the Australian dollar fell. The U.S. dollar has a chance to rise and the Australian dollar has fallen on expectations of good U.S. economic data over the next two days. In addition, markets are waiting to see if China and the United States can resume trade talks at G20 leader summit this weekend. Before the results, the Australian dollar was limited against the us dollar. Technically, the AUDUSD resistance 0.6975 and 0.6990. Support bits are currently focused on 0.6940 and 0.6925. The AUDUSD trend, generally indirectly lead the NZDUSD trend. Normally, the NZDUSD follows the AUDUSD. Take note when investing in the NZ dollar.

USDJPY
107.25/107.10 support
107.70/107.85 resistance
The dollar rose against the yen as comments from the federal reserve chairman cooled the US President's comments yesterday. In addition, the market is looking forward to the resumption of China and US trade talks, but Chinese sources said that no progress has been made in the talks with the United States, which failed to boost the investment sentiment and boost the stock market. To estimate short-term fluctuations, refer to key support at 106.85 to resistance at 107.45. If the Dow and Nikkei rise, the dollar could try resistance of 107.70 and 107.85 against the yen.

USDCAD
1.3165/1.3150 support
1.3215/1.3235 resistance
U.S. crude oil prices hit a resistance of $58 as U.S. crude stocks change fell sharply. The Fed chairman said there was no need to overestimate the rate cut. The dollar rose, limiting the rise of the Canadian dollar. At present, the market is waiting to see whether the China and US trade consultation meeting. If the talks go well, boosting crude oil prices could boost CAD. Instead, trade talks have stalled, with no good news. The price of crude oil fall, bearish the Canadian dollar. Technically, USDCAD 1.3235 is an important resistance level.

Us crude oil futures USOIL
59.15/59.70 resistance
57.35/56.80 support
U.S. API crude stocks change have fallen sharply, with crude futures trading at $59. The China and US trade consultation is expected to start at the summit this weekend. That, combined with the fed's plan to consider a rate cut in the second half of the year, could boost oil prices. Technically, $59.70 was a one-month high. If there is no good news or negative news, oil futures could fall, with an initial target of $56.80.

XAUUSD
1421/1425 resistance
1400/1394 support
As noted yesterday, the Fed is considering a rate cut, and the US President urged the Fed should cut rates by 0.5% in July. The rate cut was larger and longer than expected, boosting gold prices. Speculative entered the market yesterday, lifting the price of gold to near US1439. Comments by the federal reserve, easing interest rate cut expectations of 0.5%, gold price rise limit and deeply adjustment. In line with yesterday's expectations, it is recommended to maintain close attention during US trading session yesterday. The gold fell nearly $27 in when the Fed chairman speech in US trading hours. Current adjustment calculations, technical level reference 1421 and 1425 resistance, 1400 and 1394 support.

U.S. Dow Jones industrial average futures US30
26590/26680 resistance
26445/26395 support
The market waited to see the reopening of China and US trade talks and US durable goods orders data today. Besides, the bearish Dow news indicated that China could not compromise the U.S. government's negotiating demands and the Fed chairman expected rate cut limited at 0.25% only. Technically, the Dow failed to break through the resistance of 27000, reached the first expected support 26515. If the China and US trade talks fail to make any progress, or fail, the Dow could break through 26395, with a further to 26000.

BTCUSD:
11300 / 11550 resistance
10850 / 10550 support
The market expected Fed fund rate will cut in the second half year, bullish the bitcoin. However, we must keep watching the China and U.S. trade talk and meet at G20 leader summit this Friday. Now, The US-China trade talks restart, it would be bearish the Bitcoin. Now, we suggest following the gold price’s trend to catch up the market sentiment.

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. Registered address is : the Financial Services Centre, Stoney Ground, Kingstown, St.Vincent & the Grenadines.

 

[Kelly Yeung]

ATFX-A Global Leader in Online Trading
ATFX Market Outlook, 2019 June 27

Personal opinions today:

U.S. durable goods orders keep negatively, fell 1.3 percent in May. Which was below market expectations of a 0.1 percent decline, but an improvement from the previous month's reading of a 2.1 percent decline. Although, the data performance still shows that durable goods demand continues to decline, but there is an improvement, bullish dollar. Markets were watching today for the Eurozone economic and industrial sentiment index, the final reading on consumer confidence in Jun and the preliminary reading on the German consumer price index. If the European economic and consumer data for June and the German CPI inflation data are expected to fall, European currencies will remain bearish until the European data results.

Today, the U.S. released its final estimate of first-quarter real GDP, which the market expects to remain at 3.1 percent. In addition, in the week to June 22, the initial jobless claims, the core PCE price index for the first quarter, the real personal consumption expenditure for the first quarter, and the existing home contract sales index for May. These economic data are noteworthy and affect the performance of the dollar.

[Important financial data and events]
17:00 EU economic and industrial sentiment index for June
17:00 EU consumer confidence index for June
20:00 German CPI monthly preliminary data for June
20:30 US initial jobless claims
20:30 US the real GDP in the first quarter
20:30 US core PCE price index for the first quarter
20:30 US the real personal consumption expenditure
22:00 US existing home sales index in May

Today suggestion:

EURUSD
1.1380/1.1400 resistance
1.1345/1.1325 support
The eurozone economic and industrial sentiment index for June, the final consumer confidence index and the German June CPI preliminary monthly data will be watched carefully today. The German June CPI results will forecasts for eurozone June CPI tomorrow. The euro is weak and has a chance to fall as expectations for German June CPI weakness from the previous month weigh on eurozone forecasts. Technically, the euro is expected to adjust to the previous resistance level of 1.1345, which is the reference for the current support level. If EURUSD fall further, you can note from June 18
high and low range of the golden ratio adjustment ratio. 38.2% was adjusted to 1.1325 support level. 50% is adjusted to 1.1295.

GBPUSD
1.2700/1.2720 resistance
1.2630/1.2610 support
There is a good chance that Johnson will be chosen in the third round of the U.K. conservative party leadership election today. If Johnson is elected, Britain will face the huge risk of a hard brexit without a deal, and the British pound may fall sharply in the future. Technically, GBPUSD is weak. 1.2700 and 1.2720 are expected short-term resistance. If the adjustment range of the golden ratio is extended, the target is 1.2610 and 1.2580. If GBP fall against the EUR widens, the EURGBP could try 0.8970, further testing 0.9000. First focus on the performance of eurozone economic data. If the euro falls, the EURGBP could test 0.8920 or 0.8885 support.

AUDUSD
0.7005/0.7020 resistance
0.6970/0.6950 support
The Fed chairman has comments by the US President that he has cut interest rates sharply. The market is looking forward to the G20 summit tomorrow, when Chinese and US leaders will meet and talks. Last night, the US President said publicly that this meeting with Chinese leaders has the opportunity to make a good deal, bullish AUD. Technically, watch the AUDUSD hit a high of 0.7020 in early June. If break, look at 0.7050 and 0.7070. Normally, the NZDUSD follows the AUDUSD. Take note when investing in the NZD.

USDJPY
107.60/107.45 support
108.05/108.30 resistance
The Fed chairman comments, narrowing the expected rate cut. According to CME Report, Fed will cut 0.25 % interest rate for 75%, 25 % chance of cut 0.5% interest rate. Spreads narrowed between USD and JPY, pushing the dollar higher against the yen. In addition, the market is looking forward to the G20 summit, US and Chinese leaders meeting, has a chance to restart trade talks and boost the stock market. The dollar broke through 107.70 against the yen in the short term, with further resistance of 108.30 likely to be tested later.

USDCAD
1.3105/1.3080 support
1.3155/1.3180 resistance
U.S. crude oil prices due to a sharp reduction in U.S. crude oil inventories, trade talks between China and the United States are expected to resume. Crude oil prices rose above $58 to just under $60, bullish Canadian dollars. At present, the market is waiting to see whether the trade talks and the leader meeting can improve relations, boost the economy and reduce tariffs. If the trade talks go well, further boosting the price of crude oil and boost Canadian economy, bullish Canadian dollar. Conversely, if trade talks stall and crude oil prices fall, it could bearish the Canadian dollar. Technically, the U.S. dollar rose against the Canadian dollar, with resistance levels at 1.3180 and 1.3235.

Us crude oil futures USOIL
59.95/60.50 resistance
58.20/57.35 support
U.S. API crude stocks change fell sharply, with crude oil futures trading at $59. The trade consultation is expected to solve trade tensions, with the leaders meet tomorrow at the G20 summit. That, combined with the Fed's plan to consider a rate cut in the second half of the year, could boost oil prices. Technically, $59.70 was a one-month high. If there is no any good news or negative message from the trade talks, crude oil futures could fall with an initial target of $58.20 or $57.35.

XAUUSD
1416/1420 resistance
1402/1398 support
The Fed chairman spoke the fed would not cut interest rates by half a percentage point in July. Powell said the rate cut was not as high as expected by the market, his comments cool down the gold prices to fell. Current adjustment by Fibonacci calculation, technical reference level, 1416 and 1420 resistance, 1402 and 1398 support.

U.S. Dow Jones industrial average futures US30
26652/26759 resistance
26445/26395 support
The market is watching the reopening of China and trade talks. Any good news is expected to lift the investment climate. Technically, the Dow is currently focused on 26652 and 26759 resistance. If the trade talks fail, the Dow could break through 26395, with a further move to 26000.

BTCUSD:
13000 / 13350 resistance
11850 / 11550 support
The market expected Fed fund rate will cut in the second half year, bullish the bitcoin. However, we must keep watching the China and U.S. trade talk and G20 leader summit tomorrow. Now, we suggest following the gold price’s trend to catch up the market sentiment. If the gold price fall deeply, the bitcoin could bearish.

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. Registered address is : the Financial Services Centre, Stoney Ground, Kingstown, St.Vincent & the Grenadines.

 

[Kelly Yeung]

Gold Prices Dip, Crude oil Leaps Higher
Please see the video below:


For more analysis check out [/URL]https://www.atfx.com/uk/en/technical-analysis/ and interact with Alex on Twitter at https://twitter.com/AlexFX00

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 June 28

Personal opinions today:

Markets are watching the Japan G20 summit. The summit is not the focus of the market. The China and US leader meeting is the focus of the market. Ahead of the summit, U.S. and Chinese leaders had said they would meet Saturday. The market expects to ease relations, arrange the next round of China and US trade consultation and enhance the investment sentiment in the market.

Yesterday, the German June CPI monthly rate preliminary value, over expectations. Now the forecast the eurozone June CPI monthly rate rise. But before the Eurozone CPI results for June, keep an eye on French and Spanish data, which, if good, could add to the euro. In addition, the first quarter of UK GDP and current account, the market to see whether UK will face a hard brexit risk, economic growth slowed. Data forecasts are bearish for the British pound.

The number of U.S. workers filing new claims for jobless benefits rose as the labor market slowed and spending power likely fell. There are opportunities to influence future prices. The core PCE price index for may was released today. Is testing the U.S. tariffs on China. In addition, the Chicago PMl and Michigan consumer confidence index for June. These economic data are noteworthy and affect the performance of the dollar.

[Important financial data and events]

14:45 France CPI in June
15:00 Switzerland's KOF economic leading for June
16:30 UK GDP and current account for the first quarter
17:00 Eurozone CPI annual rate for June
20:30 Canada GDP in April
20:30 US core PCE price index in May
20:30 US personal expenditure in May
21:45 US Chicago PMI for June
22:00 US Michigan consumer confidence index for June
The G20 summit will be held in Japan from 28th to 29th

Today suggestion:

EURUSD
1.1380/1.1400 resistance
1.1345/1.1325 support
Yesterday, Germany released the monthly CPI data for June showing an increase. Euro bullish ahead of forecasts that euro zone June CPI also rose today. Later, the market estimated that the U.S. economy was flat today, with no growth. The data do not reflect inflation and there are opportunities to gain the euro. Technically, the key short-term support for the euro is expected at 1.1345. On the contrary, EURUSD fell, you can note from June 18 high and low range of the golden ratio adjustment ratio. 38.2% was adjusted to 1.1325 support level. 50% is adjusted to 1.1295.

GBPUSD
1.2700/1.2720 resistance
1.2650/1.2630 support
UK will face the huge risk of a hard brexit without a deal, and the British pound may fall sharply in the future. Today, the market focus on the first-quarter GDP and current account data. Technically, British pound is weak. GBPUSD technical resistance recommendations 1.2700 and 1.2720 in the short term. If the GBP going to adjustment, the golden ratio is extended to 1.2610 and 1.2580. The euro has already tested 0.8970 against the British pound if the fall in the British pound widens. Should the British pound fall further, the euro could test 0.9000 against British pound. First we focus on Eurozone and UK economic data, with the euro likely to test 0.8920 or 0.8885 support against British pound if it falls significantly.

AUDUSD
0.7020/0.7050 resistance
0.6980/0.6950 support
The market is watching the G20 summit and, more importantly, the meeting between the leaders of China and the United States to decide whether to formally reopen the trade talks in a short time. Technically, the Australian dollar a high of 0.7020 against the U.S. dollar in early June. In case of breakthrough, see upper resistance of 0.7050 and 0.7070. Normally, the NZDUSD follows the AUDUSD. Take note when investing in the NZ dollar. During this weekend we pay attention to the meeting between China and US leader meeting. Any good news and bad news also affect the trend of the Australian dollar and the New Zealand dollar.

USDJPY
107.60/107.45 support
108.05/108.30 resistance
Japan unemployment rate was unchanged in May and CPl rose slightly in June. In addition, the bank of Japan released a summary of its monetary policy meeting, showing that the bank of Japan has no intention to modify monetary policy, which has benefited the yen. The market is looking forward to the G20 summit, the China and leader meeting and the chance to restart the trade talks in the near future, which will further boost the stock market. Technically, the dollar is expected to follow the Dow and Nikkei .

USDCAD
1.3080/1.3055 support
1.3155/1.3180 resistance
U.S. crude oil prices due to a sharp reduction in U.S. crude oil inventories, trade talks between China and US are expected to resume. Crude oil is trading near $60, bullish Canadian dollars. At present, the market is waiting to see whether the China and US leaders meeting can improve bilateral relations, promote the economy and reduce the imposition of additional tariffs after the meeting, which will have an important impact on the Canadian dollar and the price of crude oil. If the trade talks go well, further boosting the price of crude oil could boost Canadian economy, bullish the Canadian dollar. Conversely, if trade talks stall and crude oil prices fall, it could bearish the Canadian dollar.

Us crude oil futures USOIL
59.95/60.50 resistance
58.20/57.35 support
US API crude oil stocks have been sharply reduced, China and US trade talks are expected to start, and crude oil futures are testing the $59 level. That, combined with the Fed's plan to consider a rate cut in the second half of the year, could boost oil prices. Technically, $59.70 was a one-month high. If there is no good news or negative news from the US-China trade talks, crude oil futures could fall with an initial target of $58.20 or $57.35.

XAUUSD
1421/1425 resistance
1407/1403 support
The Fed rate cut was not as high as expected by the market, to cool the rising trend of gold prices at the same time, the price of gold adjusted significantly. But the market fears that the U.S. and China leaders could resume talks at the weekend raised risk aversion and boosted gold prices. Current, technical reference level, 1421 and 1425 resistance, 1407 and 1403 support.

U.S. Dow Jones industrial average futures US30
26652/26759 resistance
26445/26395 support
The market is watching the China-US trade consultations. Good news could lift the investment climate. Technically, the Dow is currently focused on 26652 and 26759 resistance. If the trade talks fail to make progress, or fail, the Dow could break through 26395, with a further move to 26000.

BTCUSD:
13000 / 13350 resistance
10350 / 10050 support
The market expected Fed fund rate will cut in the second half year, used to bullish the bitcoin. Bitcoin to be safe heaven instrumental. Now, China and U.S. trade talk and G20 leader summit coming soon. The bitcoin following the gold price go down that we mention this week. The market wait and see China and U.S. trade talk and follow the market sentiment.

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. Registered address is : the Financial Services Centre, Stoney Ground, Kingstown, St.Vincent & the Grenadines.

 

[Kelly Yeung]

USDJPY Challenges Bears on Trade Deal Hopes
Please click the link below to watch the full version of this video:

For more analysis check out https://www.atfx.com/uk/en/technical-analysis/ and interact with Alex on Twitter at https://twitter.com/AlexFX00

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.