ATFX Market Updates 2020

Kelly Yeung

ATFX.com Representative
Messages
694
ATFX-A Global Leader in Online Trading
ATFX Market Outlook, 2020 Jan 2

Personal opinions today:

Happy New Year 2020, wish you all have a good year!


The global market reopened after the New Year holiday. In the markets today, the United States and Europe will release the final manufacturing PMI for December. The final reading of the manufacturing PMI helps to gauge a country's productivity, investment climate, and spending power. A more important reference is made to the relevant data to help gauge the country's Labour market and inflation expectation. Today's U.S. jobless claims and the U.S. final Markit manufacturing PMI for December help compare the economic dynamics of the United States with those of other countries. The value of the dollar has an important influence on U.S. stocks. Investors would more focus on U.S. data, and investors will react more when weekly jobless claims and the final Markit manufacturing PMI for December are released today.

[Important financial data and events] note: * is important

09:45 China manufacturing PMI **
16:50 French manufacturing PMI *
16:55 Germany manufacturing PMI ***
17:00 Eurozone manufacturing PMI **
17:30 U.K. manufacturing PMI **
21:30 U.S. jobless claims ***
22:45 U.S. Markit manufacturing PMI ***

EURUSD

1.1235/1.1245 resistance
1.1205/1.1195 support
Dow futures opened higher this morning in anticipation of U.S. economic data. While the dollar is still in a correction range, the euro rose. Since the euro broke through a two-week high of 1.1197, the technical trend has been bullish for the euro. Markets looked to the afternoon for final manufacturing PMI readings for December in Germany and the Eurozone. If the data is flat, investors will look at the U.S. data, as long as the U.S. economic data beat expectations, the opportunity to bearish euro. Technically, 1.1205 and 1.1195 are short-term support bits. If the support bit is broken, expect to test 1.1175 support.

Pound to dollar
1.3280/1.3300 resistance
1.3220/1.3210 support
Investors remain concern about Brexit at the end of January. If the rally is adjusted, GBP/USD could try 1.3210 support or below. The short-term GBP/USD rebound was 61.8% at 1.3280, with 1.3210 being the first support level if adjusted from that position.

Australian dollar to dollar
0.7020/0.7030 resistance
0.6985/0.6975 support
The reserve bank of Australia has been saying it expects a rate cut at the central bank's meeting in February. However, the market has already digested the news that the U.S. trade representative and China will complete the first phase of the agreement by the middle of this month, which is positive for commodity trading prospects and supports the Australian dollar's rise on the expectation of growth in demand for basic industrial metals. If the AUD rally technically ends at 0.7030, first look below the 0.6985 support level. Keep an eye on the U.S.
jobless claims and the final Markit manufacturing PMI for December, which can influence the dollar and indirectly against the Australian dollar.

Dollar to yen

109.05/109.15 resistance
108.50/108.40 support
By the end of last year, funds had settled and money was flowing into the yen, pushing the dollar lower against the yen. But macroeconomic and Dow futures performance, believe the opportunity for capital outflow from the yen rose. If the USDJPY moves down to 108.50 or 108.40 support, there is little room to fall. The dollar/yen has a chance to break through another 109.5 or 109.15 resistance before testing the 110 major resistance. Suggestions on whether Dow futures will continue to rise tonight, driving the dollar up 109 and test 109.15.

USDCAD
1.3035/1.3045 resistance
1.2950/1.2940 support
Canada and the United States will soon implement a trade agreement, bullish for the Canadian dollar. In addition, strong crude oil prices and optimism about the global economy increased Canadian exports, USDCAD could testing support at $1.2940. However, we must pay attention to the oil price adjustment, which will affect the future market adjustment, the Canadian dollar fell, the USDCAD rose.

US crude oil futures
61.85/62.05 resistance
60.80/60.60 support
Crude failed to break through $62 before the holidays, trading at $60.60 after a 73.6% correction, but recovered to $61.75. Note that crude oil prices still have a chance to adjust. 62.05 resistance is the key resistance at present, the important support bit reference 60.60 support. Global economic sentiment has brightened on the back of last week's drawdown in crude stocks, which is expected to test another $62.

Gold
1524/1526 resistance
1514/1512 support
Before the holiday, gold's rally weakened to $1525 before retreating to $1515. Tensions between the United States and North Korea have prompted some fund portfolios to shift to gold, protecting against any disputes and stock market declines. But there is no dispute, the stock market investment atmosphere with the Dow futures, advice note gold prices fell. If gold prices try again at $1524 or above, it is recommended to remain bearish. If gold breaks 1512 support, the next target $1505.

U.S. Dow Jones industrial average futures US30

28745/28825 resistance
28510/28455 support
Dow continued to rise after the U.S. President said China and the U.S. plan to sign a first-phase trade deal in Washington later this month on Jan 15. Although Dow futures have had a correction, mainly by the impact of investor interest. With macroeconomic and market expectations for global economic growth, Dow futures have an opportunity to test highs by mid-month. The moving averages of 10 and 20 in the short hourly chart will be used as reference support bits.

BTCUSD:

7350 / 7500 resistance
6800 / 6700 support
The federal reserve announced the suspension of interest rate cuts, and investors also expected the Fed rate on hold in the first quarter. It could bearish for Bitcoin price. However, Brexit may lead the market risk on, also concern the Dow future fall. If we found the market risk on and the stock market fall, it would bullish the bitcoin price. Technically, the bitcoin’s trend seems downward. US7500 as a reference resistance.

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

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

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

Kelly Yeung

ATFX.com Representative
Messages
694
With a “soap opera” kind of drama for the American markets, which started with the US-China talks and ended with Trump’s impeachment – everybody’s waiting for another Star to show up with a plot twist; the nonfarm payrolls. The expectations and the actual numbers will give the markets a wider view on how healthy was the American economy over the year of 2019.

Last month’s payroll passed all expectations, a rise of 180,000 jobs were predicted yet the actual numbers rose to 266,000. A figure that indicates that the US labour market is in a solid condition. It is the best since 1969, with an unemployment rate as low as 3.5%. Something might be working just fine in Trump’s administration.
Yet again, are these figures enough for us to turn on the music and start partying our way to 2020?

Even if the numbers exceed the expectations one more time, the full picture can’t be finalised by nonfarm payrolls figures on its own. To have a genuine idea on the rise or fall of Americans spending power, we will need to link the numbers to another indicator in the same report which is the average wage per hour, as well as connecting those data to the inflation rate report.

And that’s only the beginning! But let’s dig deeper into that first.

For over a year now, the Fed’s inflation target still far away from the current percentage is 1.0% vs a target of 2.0%. An issue hard to control, especially post the 2009 recession; when the Federal reverse went for quantitative easing through bond-buying programs which created an “artificial” boost for markets, and for now, we’re unable to detach its effect to analyse genuine data.

As for the average hourly wages, a great sign was seen last November with an all-time high of 23.83 USD per hour. But, if we take a closer look, these reports are not all cheerful. For example, the unemployment rate hasn’t decreased fairly for all Americans. On the contrary, for some groups, it has been increased. The unemployment rate for African Americans and Hispanics has risen to 4.2% and 5.5% respectively.



Most likely, the readings for December 2019 will range around an average of 168 thousand jobs, as for the average wage growth rate it will likely remain steady around the level of 3.1% annually. Achieving these numbers is necessary to trust that the performance, of a strong and steady, the American labour market is maintained throughout the year. A much-needed sign for the Feds to keep their monetary policy fixed and stable.

Information provided by ATFX (AE) Head of Market Research: Ramy Abouzaid

Legal: AT Global Markets (UK) Limited is authorised and regulated by the Financial Conduct Authority (FCA) in the United Kingdom. FCA registration number (760555). Registered Office: 32 Cornhill, London, EC3V 3SG. Company No. 09827091
 

Kelly Yeung

ATFX.com Representative
Messages
694
ATFX-A Global Leader in Online Trading
ATFX Market Outlook, 2020 Jan 3


Personal opinions today:

Manufacturing PMI in Europe and the United States continued to expand in December, boosting investment sentiment. In addition, U.S. jobless claims continued to fall last week and Dow futures rose to a record high. The dollar index and Dow futures are expected to rise ahead of the release of the December ISM manufacturing PMI this evening and the minutes of the Fed at 03:00 the following day.

In European trading today, the market forecast German unemployment in December and the unemployment rate and consumer price index rose from November, believe the euro and pound. But the dollar is likely to be bullish after the European data, as the U.S. manufacturing PMI is expected to grow in December and the federal reserve releases the minutes of its December monetary policy meeting. While the dollar and dow futures rose, gold prices had no impact. But watch out for gold prices, which fall when investors reposition. Crucially, tomorrow's minutes from the federal reserve's monetary policy meeting and Britain's departure from Europe could provide good news.

[Important financial data and events] note: * is important

15:00 UK Nationwide house price index *
15:45 France CPI monthly rate **
16:55 Germany unemployment change and rate ***
17:30 UK mortgage license **
21:00 Germany CPI preliminary rate ***
23:00 U.S. construction spending *
23:00 U.S. ISM manufacturing PMI **
24:00 U.S. EIA crude oil inventory change **
At 03:00 the next day, the FOMC minutes ***


EURUSD
1.1185/1.1200 resistance
1.1155/1.1135 support
Euro trend adjustment, after breaking through 1.1195 support, down to 1.1175 support, as low as 1.1162. Markets are focused on the German unemployment rate and CPI inflation rate in the afternoon. Watch us ISM manufacturing PMI for December tonight. Technically, euro 1.1195 is an important short-term resistance. In addition, the 20-hour average is above the current euro level. If there is no break of 1.1185, if the euro continues to adjust, the next level of important support is 1.1152 and 1.1132.

Pound to dollar
1.3210/1.3230 resistance
1.3130/1.3100 support
Investors remained cautious about whether the Brexit process would go smoothly at the end of January and adjusted for gains, with the pound breaking through the 1.3210 support level against the dollar and extending to 1.3150. The current 20-hour average continues to decline, looking for opportunities for sterling to test 1.3130 or 1.3100 support.

Australian dollar to dollar
0.6990/0.7010 resistance
0.6955/0.6945 support
The reserve bank of Australia has been saying it expects a rate cut at the central bank's meeting in February. Technically, the AUDUSD rally ended with a 23.6% bounce on the weekly chart, ending at 0.7030. At present, it has reached below the looking target of 0.6985 support. In the Australian dollar hourly chart, the 20-hour average resistance is 0.6990. If no breakthrough is made, the downtrend target will be extended to 0.6955 and 0.6945.

Dollar to yen
108.60/108.75 resistance
108.00/107.85 support
Japan holiday, no economic data announced. The market to see how the U.S ISM manufacturing PMI. Technically, the dollar has continued to trade at 107.85 to 109.70 against the yen over the past two months. If the short - term does not break the upper limit of this range, it is recommended to maintain low buy high sell. It is recommended to focus on 108.00 and 107.85 support in the short term. If the Middle East and US tensions cool down, the USDJPY would be upward.

USDCAD
1.3035/1.3045 resistance
1.2950/1.2940 support
Canada and the United States will soon implement a trade agreement, the Canadian dollar. If the strength in crude oil prices continues and breaks through recent resistance, the U.S. dollar/Canadian dollar is expected to test the 1.2940 support level below the previous $63. However, we must pay attention to the oil price adjustment, which will affect the future market adjustment, the Canadian dollar fell, the U.S. dollar against the Canadian dollar rose.

US crude oil futures
62.35/63.00 resistance
61.60/61.25 support
Crude oil prices have rebounded again to break above $62, but caution should be exercised on the possibility of a correction. For now, U.S. API crude oil inventories fell last week and are believed to be down in EIA crude oil inventories due tonight. Crude oil prices are likely to test $63 before the first adjustment. Wait until the $61 level, then consider making a long position.

Gold
1540/1542 resistance
1527/1525 support
Gold started the rally again, since Mideast and U.S. tensions, breaking through $1,525 before continuing its upward. If the stock market rally, note gold prices fell. Technically, $1,556 is the highest for all of last year on a large chart. If close to this range, the greater the downside risk, please pay attention.

U.S. Dow Jones industrial average futures US30
28935/29000 resistance
28820/28765 support
The Dow rose as global optimism mounted over plans by the United States and China to sign the first phase of a trade deal in Washington this month. The market, mindful of the recent stability of the U.S. economic outlook, is happy to add to the stock market's weight, hoping to begin in the middle of this month, the U.S. corporate earnings to bring good news. Now, with macroeconomic and market expectations for global economic growth, Dow futures have the opportunity to test highs by mid-month. By technical, note the moving averages of 10 and 20 in the hourly chart as the reference support bit. If there is a downward cross signal, pay attention to the trend began to adjust downward.

BTCUSD:
7350 / 7500 resistance
6800 / 6700 support
The federal reserve announced the suspension of interest rate cuts, and investors also expected the Fed rate on hold in the first quarter. It could bearish for Bitcoin price. However, Brexit may lead the market risk on, also concern the Dow future fall. If we found the market risk on and the stock market fall, it would bullish the bitcoin price. Technically, bitcoin’s trend seems downward. US7500 as a reference resistance.

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

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

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

Kelly Yeung

ATFX.com Representative
Messages
694
For more analysis check out, please click the below link:

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.com Representative
Messages
694
ATFX-A Global Leader in Online Trading
ATFX Market Outlook, 2020 Jan 6


Personal opinions today:

Middle East Iran crisis continues to ferment, market panic mood increasing. Dow futures and Asian stocks such as the Nikkei index fell, while China A50 and Hong Kong Hang Seng HK50 index were also downward. China's A50 index opened 0.3% lower as gold started the session higher, rising above $1,580 to a near seven-year high of $1,587. The yen fell on risk aversion and equity markets, hitting as low as 107.76 to the dollar. U.S. oil and Saudi Arabia rose as crude supplies were affected by U.S. President move to impose sanctions on Iran in response to tensions in the Middle East.

In European trading today forecasts the Germany and Eurozone services PMI flat, bearish Euro and pound. With tension in the Middle East, European currencies are more likely to weaken. Investors expected the U.S. final Markit services PMI will be negative for the Euro and pound. Commodity currencies, the Australian dollar, the New Zealand dollar, and the Canadian dollar are also expected to be weak.

[Important financial data and events] note: * is important

09:45 China caixin service sector PMI ***
16:55 Germany final service sector PMI ***
17:00 Eurozone services PMI final **
17:30 Eurozone Sentix investor sentiment index **
17:30 UK service sector PMI ***
18:00 Eurozone November PPI **
22:45 U.S. Markit services PMI final ***


EURUSD
1.1185/1.1195 resistance
1.1135/1.1125 support
The technical direction of the EURUSD continued to downward, having traded as low as 1.1125 on last Friday. Today, the market is focused on afternoon data on Germany and the Eurozone, and wait and see tonight the U.S. ISM PMI for December. Another important topic, it is worth watching whether the situation in the Middle East will escalate and hit European currencies. Technically, the Euro has become an important short-term resistance at 1.1195. If the trend keeps downward, the next EURUSD support is 1.1135 or 1.1125.

Pound to dollar
1.3140/1.3150 resistance
1.3050/1.3040 support
Investors are still waiting to see if the Brexit process goes smoothly at the end of January, staying cautious and continuing to adjust. From the technical analysis, the pound broke through 1.3282 resistance after the trend downward. 1.3050 and 1.3005 are the adjusted wave support bits in the hourly chart and become the reference support bits for falling waves at the present stage.

Australian dollar to dollar
0.6990/0.7010 resistance
0.6945/0.6935 support
The reserve bank of Australia has long said it will cut interest rates at its February monetary decision meeting. Interest rate futures on the investment futures market show a chance of a rate cut of more than 60% in June, a negative for the Australian dollar. Without momentum in Australia and global trade, the Australian dollar is expected to remain limited at 0.7000 and 0.7030. In the AUDUSD hourly chart, the moving average (SMV) drag is expected to extend the downtrend target to 0.6935 or see 0.6885.

Dollar to yen
108.25/108.40 resistance
107.85/107.70 support
Global stock markets fell as geopolitical risks rose, while the dollar traded at 107.76 against the yen, having hit a near two-month low in downside support. If in the mid-term, if the dollar against the yen did not break the upper limit of the range, suggest maintaining low buy high sell. Of course, there are tensions in the Middle East, and if the stock market continues to fall, the support level will push below 107.50, with 107.05 as the key support level.

USDCAD
1.3015/1.3025 resistance
1.2950/1.2940 support
Canada and the United States trade agreement to implement the launch of the Canadian dollar. In addition, crude oil prices continued to be strong, breaking through recent resistance to $64 per barrel, and the USDCAD is expected to test the 1.2940 support level. However, it must be noted that if the price of crude oil adjustment, will affect the future market adjustment, the Canadian dollar fell, the USDCAD rose.

US crude oil futures
64.35/65.00 resistance
62.60/62.25 support
Tensions in the Middle East, where the US President said sanctions against Iran have strained oil supplies, have boosted the price of crude above $64. At present, we must observe the situation in the United States and Iran, remain cautious, and pay attention to the volatility of crude oil prices.

Gold
1587/1589 resistance
1570/1568 support
U.S. and Iran tensions, the price of gold rose. The gold price reached a 7-year high, $1,587. If Dow’s future keeps falling and gold prices rising. It is recommended to keep an eye on Dow and Nikkei futures, keep an eye on the situation and watch for gold price movements. If the situation eases and related indexes rebound, gold prices may adjust to the rise.

U.S. Dow Jones industrial average futures US30
28620/28715 resistance
28468/28388 support
Dow futures fell as the U.S. and Iran tensions, undermining investor appetite and increasing risk aversion. At present, note 28468 and 28388 support, resistance 28620 and 28715. If the situation changes significantly, the relevant ranging can be broken.

BTCUSD:
7750 / 7900 resistance
7250 / 7000 support
the U.S. and Iran tensions, undermining investor appetite and increasing risk aversion. Dow future fell, bullish the bitcoin price. Keep watching the tensions and let cryptocurrency demand increasing and price up.

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

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

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

Kelly Yeung

ATFX.com Representative
Messages
694


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

Kelly Yeung

ATFX.com Representative
Messages
694


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

Kelly Yeung

ATFX.com Representative
Messages
694
ATFX-A Global Leader in Online Trading
ATFX Market Outlook, 2020 Jan 7


Personal opinions today:

U.S. and Iran have cooled, as have risk aversion. Market focus shifts to global corporate performance and enhanced trade cooperation. Dow Jones futures rebounded last night, gold prices adjusted from high. Asian stock markets such as Japan Nikkei and China's A50 and Hong Kong's index are expected to follow suit. Global stock markets rose and the dollar rose to 108 yen from 107 yen. Crude oil supplies are expected to stabilize in response to a thaw in relations between the United States and Iran, with oil prices adjusting from highs and U.S. crude inventories change looking to tomorrow.

In European trading today, the market forecast Eurozone December CPI and November retail sales growth from the previous value, bullish Euro and pound. But look to limit euro and pound gains as markets price in expectations. In the evening, markets look to U.S. trade balance for November, factory orders and the December ISM non-manufacturing PMI. Probably until tomorrow for U.S. ADP payrolls for December.

[Important financial data and events] note: * is important

15:30 Swiss December CPI **
18:00 Eurozone December CPI preliminary reading ***
18:00 Eurozone November retail sales **
21:30 U.S. November trade account **
23:00 U.S. factory orders for November ***
23:00 U.S. ISM non-manufacturing PMI for December **
The next day 5:30 U.S. API crude oil stocks change ***


EURUSD
1.1205/1.1215 resistance
1.1165/1.1155 support
German and eurozone data released yesterday beat expectations. Markets immediately expected eurozone consumer prices to rise in early December and retail sales in November as well. Technically, the euro once broke through 1.1195 as an important short-term resistance, but it remains to be seen whether the euro can be supported by today's euro data to further test 1.1215 or break this resistance. The key will be whether U.S. factory orders for November and the ISM non-manufacturing PMI for December beat market expectations.

Pound to dollar
1.3205/1.3215 resistance
1.3135/1.3125 support
The UK's 12 services PMI beat market expectations, the euro rose and the pound followed suit. However, investors remain focused on whether the exit process will go smoothly at the end of January and continue to remain cautious and confident that this will limit sterling's rise. From the technical analysis, the pound against the dollar 1.3282 is important resistance, the overall trend downward. Note the 1.3205 and 1.3215 resistance in the short term. Should U.S. data beat expectations today, the pound could fall ahead of U.S. non-farm payrolls.

Australian dollar
0.6950/0.6960 resistance
0.6915/0.6905 support
The reserve bank of Australia has long said it will cut interest rates at its February meeting. Interest rate futures on the investment futures market show a chance of a rate cut of more than 60 percent in June, a negative for the Australian dollar. Without momentum in Australia and global trade, the Australian dollar is expected to remain under pressure at 0.7000 and 0.7030 USD. The moving average (SMV) resistance in the AUD hourly chart is expected to extend downward or see 0.6885.

Dollar to yen
108.65/108.75 resistance
108.05/107.95 support
Global stock market declines triggered by geopolitics eased last night, with dow and nikkei futures rebounding and the dollar rebounding against the yen. It is recommended to keep an eye on stock market performance and capture the direction of dollar-yen trading.

USDCAD
1.3015/1.3025 resistance
1.2950/1.2940 support
Canada and the United States trade agreement implementation started, the Canadian dollar, estimated the U.S. dollar/Canadian dollar is expected to test the 1.2940 support. However, it must be noted that the adjustment of crude oil prices may limit.

US crude oil futures
64.35/65.00 resistance
62.60/62.25 support
There are signs of easing after a rise in crude oil prices triggered by geopolitics in the Middle East. Note, however, that if the U.S. President formally imposed sanctions on Iran, it would strain the supply of crude oil and boost the price of crude oil, hitting $64 again. It is important to keep an eye on developments and to be cautious about the volatility of crude oil prices. The market is predicting that U.S. crude oil inventories could be similar to the previous level tomorrow, but the result would be an increase and the price could test the $61 level.

Gold
1568/1570 resistance
1558/1556 support
As the situation in the Middle East eases, gold prices immediately fall, breaking through $1570 support, the downside target is expected to test $1558 or $1556 support. But the politics of the Middle East must be closely watched, with the potential for a cascade of rising risks. If the stock market falls, gold and silver prices will rise. It is recommended to keep an eye on the situation, watch dow and nikkei futures and watch gold price movements. If the situation further detente, stock indexes continue to rise, gold prices may adjust the scope of the expansion.

U.S. Dow Jones industrial average futures US30
28840/28905 resistance
28470/28405 support
The United States and China plan to sign the first phase of a trade deal in Washington later this month. Plus the market expects growth. Dow futures are expected to upward. At present, note 28470 and 28405 support, resistance 28849 and 28905. If the Middle East cools down, it may test upper resistance.

BTCUSD:
8200 / 8450 resistance
7550 / 7300 support
the U.S. and Iran tensions, undermining investor appetite and increasing risk aversion. Dow future fell, bullish the bitcoin price. Keep watching the tensions and let cryptocurrency demand increasing and price up.

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

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

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

Kelly Yeung

ATFX.com Representative
Messages
694
For more analysis check out, please click the below link:

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.com Representative
Messages
694
ATFX-A Global Leader in Online Trading
ATFX Market Outlook, 2020 Jan 8


Personal opinions today:

Iran hit back at the United States airbase. Dow futures fell, while gold, the yen, and crude oil rose. Asian markets opened this morning, with broad regional markets falling. The situation is expected to remain tense, with investor sentiment likely to persist throughout the day, providing an opportunity to push global stock markets lower. In general, risk aversion has picked up, with the dollar falling from the 108 level to the 107 level, while equity markets continue to fall and may try the 106 level.

In European trading today, markets watched for the final reading on economic and industrial sentiment, consumer confidence in the eurozone. In U.S. trading, the U.S.ADP job data change for December, it can be used as the day after tomorrow's U.S. non-farm payrolls data, please pay attention! In addition, the market risk aversion continues, please keep an eye on the stock market volatility, especially the Dow futures.

[Important financial data and events] note: * is important

15:45 France trade account **
16:30 UK Halifax quarterly house price index **
18:00 Eurozone economic and industrial sentiment index ***
18:00 Eurozone consumer confidence index final **
21:15 U.S. ADP job change ***
23:00 U.S. Fed governor Janet Brainard **
23:30 U.S. EIA crude oil inventories change**


EURUSD
1.1195/1.1205 resistance
1.1125/1.1115 support
The U.K. Halifax quarterly house price index for December and the Eurozone economic and industrial sentiment index for December were released today. Markets wait to see how the data plays out and predict the economic outlook for Europe. But the current structural problem is uncertainty over Iran, which markets fear could bearish the European economy and further bearish the Euro. The dollar rose and the Euro fell tonight if U.S. employment figures for December beat market expectations. Technically, the Euro‘s resistance at $1.1195. If this resistance is not broken, the EURUSD will try either $1.1125 or $1.1115 support.

Pound to dollar
1.3185/1.3205 resistance
1.3080/1.3060 support
The Iran tensions bearish the European economy and indirectly affect Britain. With the Brexit deadline approaching, the UK economy after Brexit is still full of challenges. The pound’s trend will be down before the end of the month. Technical analysis, sterling dollar 1.3282 is important resistance, the overall trend downward. Short-term resistance level note 1.3205 resistance. The dollar is up and the pound could fall if ADP data beats expectations today.

Australian dollar to dollar
0.6880/0.6890 resistance
0.6845/0.6835 support
The RBA expressed they would cut interest rates at its February meeting. Interest rate futures on the investment futures market show a chance of a rate cut of more than 60% in June, a bearish for the Australian dollar. Yesterday the Australian dollar adjusted significantly, the breakthrough of 0.6900 and 0.6885 support. If there is no progress in Australia and global trade, the Australian dollar is expected to remain downward against the U.S. dollar, testing its lows. First significant support as 0.6835 support.

Dollar to yen
108.15/108.25 resistance
107.55/107.45 support
Stock markets risk on as uncertainty Iran raised risk aversion. Technically, Dow and Nikkei futures fell, with the dollar following suit against the yen. It is recommended to keep an eye on stock market performance and capture the direction of dollar-yen trading.

USDCAD
1.3015/1.3025 resistance
1.2950/1.2940 support
The USDCAD is expected to test the $1.2940 support level, which has rebounded on fears of a shortage of crude oil amid instability in Iran. However, it must be noted that the adjustment of crude oil prices may limit the USDCAD downward range, if any impact on the adjustment, USDCAD would test 1.30 level.

Us crude futures
65.65/66.00 resistance
62.60/62.25 support
Instability in the Middle East has triggered a rise in the price of crude oil. The US President's formal sanctions against Iran will strain oil supplies and boost the price of crude oil, which is currently testing $64. Oil could test $66 to $67 if conditions continue to develop and risk aversion rises. However, we must be cautious and pay attention to the volatility of crude oil prices and the opportunity to adjust.

Gold
1610/1612 resistance
1585/1583 support
The price of gold rose to higher than $1, 600 cause of Iran attacks U.S. Airbase this morning. Investors must now be closely watched the Middle East tensions with the potential for a cascade of rising risks. If the stock market falls, gold and silver prices will rise. It is recommended to keep an eye on the situation, watch Dow and Nikkei futures and watch gold price movements. If stock indexes continue to rise, gold prices may adjust the scope of the expansion.

U.S. Dow Jones industrial average futures US30
28555/28775 resistance
28130/27935 support
Middle East tensions sent the Dow down and global risk aversion up. But if tensions calm down for a while, and the market expects economic and corporate earnings growth. Dow futures are expected to rebound. At present, note 28130 and 27935 support, significant resistance 28775. If the situation in the Middle East, it may break through the relevant scope.

BTCUSD:
8450 / 8700resistance
7950 / 7800 support
the U.S. and Iran tensions, undermining investor appetite and increasing risk aversion. Dow future fell, bullish the bitcoin price. Keep watching the tensions and let cryptocurrency demand increasing and price up.

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

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.
 
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