Reminder: In the past weekend, the European region has implemented winter time, and the European trading hours and data release time are one hour later than the summer time. Winter time will be implemented in North America from coming this Sunday to March 10, 2019, and the trading hours and data release time will be one hour later than the summer time.
Personal opinions today:
Japan announced the unemployment rate in September this morning, which fell to 2.3% better than previous month. It was a three-month decline. The data stimulated the Japanese Nikkei index to rebound more than 200 points, while the US dollar against the yen rebounded over 30 points.
In the afternoon today, the European region released a number of economic important data, with special attention to important data from Germany and the Eurozone. At present, the market expects that the unemployment rate and the number of unemployment in Germany will have an opportunity to improve, but the Eurozone economic sentiment index in October, industrial prosperity and consumer confidence index and the third quarter GDP initial value are expected to be lower than the previous value, bad for the euro. In addition, at 21:00 tonight, the market estimates that the initial value of CPl in Germany fell in October, which is also bearish for the euro and other European currencies.
At present, there is a lack of good economic data and news in Europe. It is estimated that the euro, the British pound and the Swiss franc will continue to move downwards against the US dollar. However, if the economic data of the above European regions is not further lower than the market expectation, it is expected that the European currency will be adjusted, recovering from the low level and repairing some of the downside.
Tomorrow, the Eurozone announced the unemployment rate and CPl, the United States announced ADP job data. The market is on the sidelines and estimates of improved economic data in Europe and a decrease in employment in the United States. The dollar has a chance to fall and give the European currency a rebound. If the dollar is likely to fall, gold may find support between $1225 and $1,223. Of course, the trend and fluctuation of gold, more importantly, the performance maybe follow by the US Dow and the global stock market.
Today's suggestion:
EURUSD
1.1370/1.1355 support
1.1400/1.1415 resistance
Technically, the euro continues to decline. If the important data in the European region is released in the afternoon, the euro still has not broken the resistance of 1.1400 and 1.1415, indicating that the trend has not changed and has the opportunity to continue to test the lower. Important support level target is 1.1355. However, the fundamentals maybe changing. Investors are concerned that the US ADP job data will decrease in October, and the euro will have a chance to rise. However, it must be noted that the German Chancellor has planned to-retired, and the market is worried that the political situation in Europe will be unstable and the euro will be negative.
GBPUSD
1.2790/1.2770 support
1.2830/1.2850 resistance
The market is concerned about the position of the Bank of England on interest rates and monetary policy this Friday. But before Friday, more important data is worthy of attention, and the short-term part is bad. However, the market is expected to announce that the US ADP job data in October will be weaker than expected, and the bearish US dollar, the pound may be stable at 1.2785, and test the resistance is 1.2830 and 1.2850.
USDCHF
1.0025/1.0045 resistance
0.9995/0.9975 support
The weaker euro affects the performance of the Swiss franc stronger. Once the Brexit negotiations and the Italian budget remain unresolved. Some euro funds flow into the Swiss franc, and the Swiss franc is stronger than the euro. Technically, the USD/CHF resistance of 1.0025 has not broken. If the US dollar fell due to the weak US job data, the US dollar against the Swiss franc had the opportunity to first adjust to 0.9995/0.9975 support.
USD/JPY
112.60/112.75 resistance
112.20/112.05 support
Fluctuations in the US stock market and global stock markets have driven the Nikkei index to fluctuate. The most important stock market trend is often related to the dollar against the yen. At present, we continue to observe the time of different trading zones and pay attention to the impact of the stock market on the pace of the US dollar against the yen. Technically, continue to focus on the resistance of 112.60 and 112.75. If the stock market rises, the dollar-yen has a chance to break through. The market is watching the US job data fall tomorrow night, it is estimated that the dollar-yen fall as well.
AUDUSD
0.7085/0.7100 resistance
0.7050/0.7035 support
In this morning, Australia government announced the September construction permit rate saw growth and boosted the Australian dollar. However, Australia will announce the third quarter of CPl tomorrow, and the market is expected to decline, which may be negative for the Australian dollar. If there is no breakthrough in the resistance of 0.7085 and 0.7100, AUDUSD will go down.
NZDUSD
0.6540/0.6555 resistance
0.6520/0.6505 support
Tomorrow, New Zealand government announced the September construction permit, the market is estimated to be similar to Australia. The most important AUDUSD and NZDUSD’s trend is roughly the same. Now, If the New Zealand dollar is stable at 0.6505 against the US dollar and breaks through the resistance of 0.6540 and 0.6555, the head and shoulders are formed, and the trend is expected to rise further.
USD/CAD
1.3080/1.3060 support
1.3125/1.3145 resistance
The oil price has once again downward, and the US dollar has risen against the Canadian dollar. However, the market is expected to the US ADP employment and Canada's August GDP in tomorrow, which is likely to increase the Canadian dollar. If the short-term oil price trend does not fall sharply, the Canadian dollar can still maintain a bullish trend.
EUR/GBP
0.8890/0.8905 resistance
0.8870/0.8855 support
The EU and the British government said that the Brexit agreement still needs time to discuss, the British prime minister's status is affected, and the bearish pound is expected to continue its upward trend against the pound. If the fundamentals have not changed, it is estimated that the trend will continue to rise. In the next two days, the euro zone announced a number of important data, the euro reaction may be larger, pay attention to the same volatility of the euro against the pound. At the same time, the German Chancellor has planning to retire, and the market worried that the political situation in Europe was unstable and the euro was bad. The euro has a chance to fall against the pound.
EURCHF
1.1415/1.1430 resistance
1.1385/1.1370 support
After the euro and the Swiss franc showed a double-top pattern, the trend showed an adjustment in the development of the pattern, with a neckline of 1.1365. Currently in the neckline support consolidation, pay attention to the resistance of 1.1415 and 1.1430. At the same time, the German Chancellor has planning to retire, and the market worried that the political situation in Europe was unstable and the euro was bad. The euro has a chance to fall against the Swiss franc.
XAUUSD
1233/1235 resistance
1225/1223 support
The US Dow and global stock markets are vibrating and even affecting Asian stock markets. Gold is often used as a hedge against funds. When the stock market fell, the price of gold rose. Technically continue to maintain the important resistance 1239 and 1240. Short-term gold prices fell below 1230 and 1228 respectively, and the trend was bearish. However, we must pay attention to the trend of global stock markets and grasp the changes in the trend of gold. The market is waiting to see the US employment data tomorrow night, and gold has a chance to rise.
US crude oil futures:
68.00/68.65 resistance
66.60/66.20 support
The United States officially imposed sanctions on Iran soon, and the price of oil should be go higher. Although the Saudi oil country organization said it may increase production, oil prices fell. However, the market is still waiting to the US job report and the amount of crude oil inventories this week, which is expected to boost oil prices in the short term. The recommendation is currently focused on $66 support. If the rebound is concerned about $68.
BTCUSD:
6580 / 6650 resistance
6260 /6060 support
After the US released the Beige Book report, the US dollar weakened, positive the bitcoin. The market, now,focused on US job data this week. As expectation the bitcoin is test the US6260 support and US6060 important support.
Hope you enjoy and have happy trade! 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.
Reminder: In the past weekend, the European region has implemented winter time, and the European trading hours and data release time are one hour later than the summer time. Winter time will be implemented in North America from Sunday to March 10, 2019, and the trading hours and data release time will be one hour later than the summer time. attention please!
Personal opinion today:
The US stock market was boosted by corporate performance. The US Dow rebounded more than 400 points, and both gold and yen fell. The dollar has generally risen against major currencies, and European currencies have fallen significantly. Because the market is still worried about the deficit in the Italian budget, bringing EU political pressure. In addition, the market is watching the results of the US ADP job data tonight.
At 11 am, the Bank of Japan’s interest rate decision and policy statement. At 14:30 in the afternoon, Bank of Japan Governor Haruhiko Kuroda held a press conference. The market paid attention to the central bank's policy speech. The US dollar against the yen will be more volatile, and even affect the recent changes in the trend.
In the afternoon, the Eurozone announced the September unemployment rate and the initial value of the CPl annual growth rate, and the market is closely watching. Before the release of the CPI in the Eurozone, you can pay attention to the German September retail sales announced in the afternoon after the European opening, France and Italy October CPl for reference. In the evening, Canada announced August GDP, and Canadian dollar investors deserve attention.
After the US ADP job data, next is the US the third quarter labor cost index and wages. The market is on the sidelines, and it is estimated that the average wage can be forecast for the US on Friday night.
Today's suggestion:
EURUSD
1.1335/1.1300 support
1.1375/1.1405 resistance
Technically, the euro continues to decline. The important data of the Eurozone is released this afternoon. If the Euro still does not break through the 1.1375 and 1.1405 resistance zones, the representative trend has not changed. There is a chance to continue to lower the low. The target can refer to the low of 1.1335 in mid-August and 1.1300. In the evening, investors followed the US ADP job data and the third quarter labor costs and wages. The expected results will affect the short-term trend of the US dollar. If the results are lower than expected, the euro has a chance to rise.
GBPUSD
1.2685/1.2655 support
1.2735/1.2765 resistance
The market is concerned about the Bank of England's interest rate and monetary policy decisions tomorrow night. However, the current trend, part of the short-term reasons, is bad for the pound. The market is watching the US ADP job data for the US tonight, paying attention to the lows of 1.2685 and 1.2655 that has seen in mid-August.
USDCHF
1.0065/1.0085 resistance
1.0030/1.0010 support
The dollar is strong and the euro is weak, affecting the fall of the Swiss franc. Technically, the US dollar against the Swiss franc broke through the resistance of 1.0025 and continued to move upward. If the US ADP job data is weak in the future, it may affect the dollar's decline. Looking at the results, the US dollar has the opportunity to adjust against the Swiss franc, with the first target of 1.0010 or 0.9985.
USD/JPY
113.35/113.50 resistance
113.05/112.85 support
On the eve of the Bank of Japan’s interest rate decision and the US stock market rebounded, the Japanese Nikkei Index was well-driven. The USD/JPY trend broke through the resistance. Technically, Japan’s Nikkei index rebounded at a double bottom with a neckline of 21,788. USD/JPY broke the resistance of 113.35 and 113.50 on the neckline 112.85. Pay attention to the statement of the Bank of Japan Governor and the results of the US ADP job data tonight, and pay attention to whether the USD/JPY trend will change.
AUDUSD
0.7100/0.7115 resistance
0.7070/0.7055 support
Copper prices continued to fall and industrial metal prices fell as well. The market expects the Australia CPl, bad in the third quarter, which is negative for the Australian dollar. The Australian dollar broke through the resistance of 0.7100 last night but with the European closing, the short position increased and the Australian dollar fell against the US dollar. Tomorrow, Australia announced the import and export prices in the third quarter and the trade account for goods and services in September. The market is expected to grow faster than the previous value, and it is expected to boost the Australian dollar.
NZDUSD
0.6565/0.6580 resistance
0.6540/0.6525 support
New Zealand announced that the September construction permit fell below market expectations, and the New Zealand dollar fell from 0.6565 resistance. However, the shape of the head and shoulders has not been destroyed, and the trend is expected to rise further. It may believe that if the US job data is not as expected, the US dollar will fall, and the New Zealand dollar will still have a chance to go up to 0.6580. In the trend, you can pay attention to the development of the Australian dollar against the US dollar.
USD/CAD
1.3155/1.3170 resistance
1.3080/1.3065 support
US API crude oil inventories decreased from the previous value, oil prices rebounded at a low level, and the US dollar adjusted against the Canadian dollar. The market is watching the US ADP job data, while paying attention to Canada's August GDP, it is estimated that it may be bullish the Canadian dollars. If the short-term oil price trend rises, the outlook for the Canadian dollar is equally bullish, and the US dollar against the Canadian dollar may test the target at 1.3080 or 1.3065.
EUR/GBP
0.8950/0.8965 resistance
0.8905/0.8890 support
The trend of the GBPUSD downward, and the decline was greater than the euro. This afternoon, the euro zone announced a number of important data, the euro reaction may be larger, while paying attention to data performance and volatility of the EURGBP. Pay attention to the talks between Italy and the UK, and the trend of the EURGBP will change at any time.
EURCHF
1.1415/1.1430 resistance
1.1385/1.1370 support
After the EURCHF showed a double-top pattern, the trend showed an adjustment pattern, and the development of the right shoulder neckline remained at 1.1365. Currently in the neckline support consolidation, pay attention to the right shoulder above the 1.1415 and 1.1430 resistance. This afternoon, the euro zone announced a number of important data, the euro reaction may be larger, while paying attention to data performance. Pay attention to the negotiations between Italy and the UK, and the trend of the EURCHF is changing at any time.
XAUUSD
1224/1228 resistance
1218/1215 support
The US Dow and global stock markets have shaken and even affected Asian stock market performance, and the gold trend has followed. Remember that when the stock market fell, the price of gold rose. The US stock market rebounded last night and gold fell. The price of gold fell below 1230 and 1228 respectively, and the trend further fell. However, we must pay attention to the trend of global stock markets and grasp the changes in the trend of gold. The market is watching the US ADP job data tonight. If the result is less than market expectations, the US dollar and the US Dow will fall respectively, and gold will have a chance to rise.
US crude oil futures:
67.20/67.65 resistance
65.95/65.75 support
The United States officially imposed sanctions on Iran, and the price of oil should go higher. Although the Saudi oil country organization said it may increase production, oil prices fell. The US API crude oil inventories decreased, and it is expected that ElA crude oil inventories will decrease tonight, and the oil price is expected to be boosted in the short term. The recommendation is currently focused on $66 support. If the trend continues, the rebound target will focus on $68.
BTCUSD:
6580 / 6650 resistance
6260 /6060 support
After the US released the Beige Book report, the US dollar weakened, positive the bitcoin. The market, now,focused on US job data this week. As expectation the bitcoin is test the US6260 support and US6060 important support.
Hope you enjoy and have happy trade! 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.
Reminder: North America will implement winter time from this Sunday to March 10, 2019. The trading time and data release time will be one hour later than the summer time. attention please!
Personal opinions today:
The results of US ADP job data reported a total of 227,000, higher than market expectation of 189,000, and US labor costs increased quarter-to-quarter, surpassing market expectations. However, the US Chicago Purchasing Managers Index fell in October compared with market expectations and previous values, limiting the dollar's gains. The decline in gold and the yen, also the euro found support in the 1.1302 against the dollar. In addition, the media said that British Prime Minister Wen Cuishan said that with the EU on the UK's financial services after the Brexit, the British Brexit Minister said that the completion of the Brexit agreement before November 21, the pound rebounded from the low, the news is indirectly more euros.
In the afternoon and evening, the main focus is on UK data and the results of the Bank of England. The most important concern is the speech of the Bank of England, and there is no change in the future monetary policy stance. The market is hoping that the recent Brexit results will bring optimism to the central bank's prospects and maintain the central bank's plan to raise interest rates in the summer of 2019 to boost the pound.
Today's suggestion:
EURUSD
1.1305/1.1285 support
1.1355/1.1375 resistance
German retail sales fell, the euro zone CPl improved, but the euro continued to decline, the market continues to wait and see whether the Italian budget can be approved by the European Union, worried that the Italian Ministry of Finance can not reduce the deficit, bring the euro zone worry, the euro lacks momentum to rebound, there are Opportunities continue to test the low. At present, the euro has found support in the low of 1.1302 in mid-August, but still lacks a strong rebound reason. It is expected that the important resistance of 1.1355 and 1.1375 which is limited the EURUSD further go up.
GBPUSD
1.2865/1.2885 resistance
1.2770/1.2750 support
The market is concerned about the 20:00, the Bank of England interest rate decision tonight. Although the Brexit issue has brought good news, boosting the pound to rebound to above 1.28 level, but if the Bank of England can not express the interest rate hike, the short-term may become the main reason for the bad price. In addition, the market is watching the US jobless claims tonight and the US job report tomorrow, the pound may limit the increase, pay attention to the 1.2865 and 1.2885 resistance. If adjusted, 1.2770/1.2750 is the first phase of important support.
USDCHF
1.0080/1.0100 resistance
1.0035/1.0010 support
The weak euro is indirectly affecting the fall of the Swiss franc. Technically, the US dollar against the Swiss franc broke through the resistance of 1.0025 and continued to move upward. The US ADP job data is better than expected, and the outlook is for the US dollar to the US non-farm payrolls data for tomorrow night. If the USD has a chance to adjust against the Swiss franc, the first target is 1.0035 and 1.0010.
USD/JPY
113.15/113.35 resistance
112.60/112.40 support
Yesterday, the Bank of Japan interest rate decision and policy statement. Bank of Japan Governor Haruhiko Kuroda held a press conference to reaffirm that the monetary policy and the size of the bond purchase remain unchanged. The dollar has not changed much against the yen, but it has been boosted by the Japanese Nikkei and has driven the dollar to rise against the yen. Technically, Japan's Nikkei and the US and Japan rebounded at the bottom, breaking the neckline 21788 and 112.85 respectively, and the US and Japan once touched the resistance of 113.35. The market is currently watching the performance of the job data released by the United States in the next two days. It is expected that the USD/JPY will enter the adjustment. The support level can be supported by 112.60 and 112.40. The important USD/JPY trend continues to be affected by the stock market performance, so please pay attention.
AUDUSD
0.7125/0.7145 resistance
0.7100/0.7085 support
Australia announced that the import and export prices in the third quarter and the September trade in goods and services increased respectively, and were expected to boost the Australian dollar compared with market expectations and previous values. The market waits for US job data and other data from Australia to be announced tomorrow. It is expected that the Australian dollar will strengthen than the US dollar, paying attention to the resistance of 0.7125 and 0.7145.
NZDUSD
0.6565/0.6580 resistance
0.6530/0.6515 support
As the Australian dollar rose against the US dollar, the New Zealand dollar rose indirectly against the US dollar. Technically, the head and shoulders bottom pattern remains unchanged, first focusing on 0.6565 resistance and 0.6515 support. It is expected that the New Zealand dollar against the US dollar will continue to follow the development of the Australian dollar against the US dollar.
USD/CAD
1.3170/1.3190 resistance
1.3080/1.3065 support
Canada's GDP in August fell compared with the previous value, and crude oil prices fell, which was bad for the Canadian dollar. If the oil price continues to fall, the bearish Canadian dollar will technically test resistance at 1.3170 and 1.3190. The short-term most important concern is the resistance of 1.3220.
EUR/GBP
0.8855/0.8885 resistance
0.8805/0.8780 support
The Brexit negotiations provided good news, EUR/GBP fell sharply . At present, the adjustment has been made, and the golden ratio of 50% has fallen below, and the lower support target of 0.8805 is below. The Bank of England is meeting interest rates tonight, the market is watching monetary policy orientation, and it affects the trend of the pound.
EURCHF
1.1415/1.1430 resistance
1.1385/1.1370 support
After the EURCHF showed a double-top pattern, the trend showed an adjustment, and the developing the right shoulder with the neckline at 1.1365. Currently in the neckline support consolidation, pay attention to the right shoulder above the 1.1415 and 1.1430 resistance. In the afternoon, Switzerland announced inflation data, which is expected to cause the Swiss franc to rise and the euro to fall against the Swiss franc.
XAUUSD :
1220/1223 resistance
1213/1210 support
The US stock market keeps going uptrend last night and the gold continued to fall. After the Dow closed, it fell slightly, and then the price of gold rose, and the trend and pace were close. Pay attention to the trend of global stock markets and grasp the changes in the trend of gold. Before the market waits for US job data, the gold trend may be affected by the strong dollar, limiting the resistance below 1220 and 1223. Technically, 1213 is the adjustment support. If there is no further fall below 1210, the trend still has a chance to rebound, and the resistance was 1220 and 1223.
US crude oil futures:
65.40/65.85 resistance
64.45/64.05 support
The United States officially imposed sanctions on Iran for a ready soon. The news is bullish the crude oil prices. However, the Saudi is planning for increase production and the crude oil price increase is limited, the market reaction was keeping the oil price fall. At present, the market is waiting the US job data released, and crude oil prices may fall near the support level in mid-August. The record was USD63.90.
BTCUSD:
6580 / 6650 resistance
6260 /6060 support
After all the US released economic indicators, the US dollar probably go weakened, it maybe positive the bitcoin. The market, now,focused on US job data on Friday night. As expectation the bitcoin was test the US6260 support and US6060 important support. It could be after the US job data and tests the support success, the bitcoin will rebound and going to reach the recommended resistance.
Hope you enjoy and have happy trade! 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.
Reminder: North America will implement winter time from this Sunday to March 10, 2019. The trading time and data release time will be one hour later than the summer time. attention please!
Personal opinions today:
A few days ago, the US private sector announced ADP farm employment reported reached 227,000 better than last month, revised figures of 218,000 and market expectations of 189,000, and US labor costs rose quarter-to-quarter, better than market expectations. It is expected that the number of job data in October announced by the US Department of Labor will increase to nearly 210,000 to 230,000. If the actual result meets the range or beats the number, it will help boost the dollar. However, it is necessary to pay attention to the unemployment rate and the average wage announced at the same time. Because the unemployment rate is falling and the average wage is rising, the strength of the dollar can be extended. Otherwise, the strength of the dollar will be temporary.
At present, the EU has reached an agreement on the financial services after the Brexit. The Brexit Minister said that the Brexit Agreement will be completed by November 21, and the US and Europe and the United States will rebound from the low level. The news will support the Euro, causing the US dollar to fall, stimulating other currencies against the US dollar. The price of gold has risen. Therefore, the performance of the US employment report tonight will be the key. ,
Today's suggestion:
EURUSD
1.1425/1.1460 resistance
1.1365/1.1330 support
US dollar adjustment, the market waits tonight the US Labor Department announced the employment market report. However, the euro continues to be approved by the European Union for the passage of the Italian budget, which will bring worry to the euro zone. The euro will rebound further and may lack motivation. Unless the US job data performance disappoints the market, the euro can break through the resistance. At present, the euro has found support in the mid-August low of 1.1302. The double bottom rebounded and broke through the resistance of 1.1355 and 1.1375. The 20-day moving average reference resistance is 1.1460, which is worthy of attention!
GBPUSD
1.3005/1.3040 resistance
1.2950/1.2925 support
Last night, the Bank of England decided to remain interest rates. After the good news came from the Brexit issue, the Bank of England’s monetary policy kept tightening forecasting, its policy orientation and boosted the pound. In addition, the market's Brexit negotiations continued to reach the goal, and the pound rebounded to 1.30. The market is watching the US job report for October tonight, limiting the gains of the pound, and the 20-day flat-average average stops at 1.3040. In general, if the US job data performance disappoints the market, the pound can break through the resistance.
USDCHF
1.0045/1.0080 resistance
1.0005/0.9980 support
The euro has strengthened and indirectly supports the rebound of the Swiss franc. Technically, the US dollar was adjusted to 1.0005 against the Swiss franc, with a 10-day moving average support. If the euro rises further or the US employment data shows disappointing market, the Swiss franc can only test the 0.99 level.
USD/JPY
113.00/113.20 resistance
112.60/112.40 support
At present, the market is waiting to see the performance of job data in the United States. The USD/JPY has entered an adjustment, and the support level continues to support 112.60 and 112.40. The important USD/JPY trend continues to be affected by the stock market performance, so please pay attention. If the US non-farm payrolls data and other employment data are weak, the stock market falls, and the dollar is against the yen.
AUDUSD
0.7225/0.7245 resistance
0.7160/0.7140 support
The dollar fell, industrial metals rebounded, boosting the Australian dollar, and the market continued to wait and see the performance of US job data tonight. If the US non-farm payrolls data and other employment data are weak, the US dollar continues to fall, and the Australian dollar has a chance to test the resistance at 0.7245.
NZDUSD
0.6655/0.6690 resistance
0.6610/0.6580 support
The dollar fell, industrial metal prices rose, the Australian dollar rose against the dollar, and the New Zealand dollar also indirectly rose against the dollar. Technically, the head and shoulders pattern of the New Zealand hourly chart completely broke the resistance of the neckline, and looked at the 100-day average line resistance. It was believe that the gains are temporarily slowing down and there is an opportunity to adjust for support. It is recommended to pay attention to the development of the New Zealand dollar against the US dollar.
USD/CAD
1.3130/1.3160 resistance
1.3075/1.3055 support
Although international crude oil prices continued to fall, the negative Canadian dollar. However, before the US employment data was released, oil prices developed separately from the Canadian dollar. At present, when the market waits to see the performance of the US job data tonight, it is technically concerned with the support level of 1.3055 for the 20-day moving average.
EUR/GBP
0.8760/0.8745 support
0.8790/0.8805 resistance
The Brexit negotiations provided good news, the pound rebounded strongly, compared with the euro, but the gain was less than the pound, the euro continued to fall against the pound. Watch the performance of US employment data tonight and the adjustment of the pound. Technically, the euro is expected to have a chance to test the 0.88 level against the pound and test the resistance above.
EURCHF
1.1440/1.1455 resistance
1.1405/1.1390 support
The trend of the euro against the Swiss franc has changed. The price of the euro against the Swiss franc has fallen below the 10 and 20-hour moving averages. The trend is likely to fall, which deserves attention.
XAUUSD :
1236/1239 resistance
1222/1220 support
Gold rebounded before the market waited for US job data. Technically, 1236 and 1239 are adjustment to resistances. If the overall US job data is weak tonight, gold has a chance to explore resistance. On the contrary, support will be tested. And pay special attention to the performance of the US Dow.
US crude oil futures:
65.40/65.85 resistance
63.15/62.85 support
The current market is waiting to see the US job data released, crude oil prices may drop to support in August and fell below. If the US job data is released tonight, the oil price has the opportunity to adjust the decline and maybe rebound.
BTCUSD:
6580 / 6650 resistance
6260 /6060 support
After all the US released economic indicators, the US dollar probably go weakened, it maybe positive the bitcoin. The market, now,focused on US job data on Friday night. As expectation the bitcoin was test the US6260 support and US6060 important support. It could be after the US job data and tests the support success, the bitcoin will rebound and going to reach the recommended resistance.
Hope you enjoy and have happy trade! 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.
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: 1st Floor, 32 Cornhill, London EC3V 3SG, United Kingdom. Company No. 09827091
The US midterm election officially began counting the votes. The result was announced at noon as soon as possible. At the latest, it was officially announced at 7:00 tonight. Of course, the market is more concerned about the situation of the two parties in the vote, because the support rate of the two parties will be the decisive factor, and at the same time affecting the ability of US President. It may drives the market fluctuation. At present, the United States Senate and House of Representatives have higher Republican members, and the Democratic Party must strive for more than 23 seats before it can become a advantage for the current presidential leadership and the Republican Party. In the face of US political uncertainty, market risk appetite rose, the dollar faced downside risks, and the dollar fell against major currencies. However, the quarterly performance of US companies was better than market expectations, the stock market rebounded and gold fell. During the midterm elections, the market has fluctuated rapidly and must pay attention to risks.
The market is waiting for the US mid-term elections, the market also looking for the UK October home price index, the German construction industry purchasing managers index in October and the euro zone retail sales in September. The above data is currently expected to grow, with a bullish European currency. But at the same time pay attention to the US midterm elections, if the Republican Party has a higher proportion, it is expected to stimulate the dollar rebound.
Today's suggestion:
EURUSD
1.1495/1.1535 resistance
1.1425/1.1400 support
The key to the vote of the US midterm elections lies in the proportion of Republican and Democratic parties. If the Democrats parties succeed, it may have a negative dollar effect. In the afternoon, European trading hours, as well as Eurozone data are worthy of attention. Technically, the euro continued to explore the technical rebound against the dollar. The EURUSD once hit a rebound of 50% of the 1.1460, looking forward to 61.8% of the 1.1495. Subordinate support is 1.1425 for 38.2% of the rebound. During the midterm elections in US, the market has fluctuated rapidly and must pay attention.
GBPUSD
1.3170/1.3235 resistance
1.3080/1.3045 support
The progress of the Brexit negotiations in the UK has brought the market awkwardly and the bullish pound. The US midterm election began to count the votes, the democratic party situation dominated, and the dollar fell. In the face of US political uncertainty, the trend of the pound is more volatile. Technically, GBPUSD continues to develop in the rebound. 1.3045 is 61.8% support for the rebound, currently breaking 73.6%, 1.3105, and looking forward to 1.3170 resistance. During the mid-term election in US, the market is volatile and must pay attention.
USDCHF
1.0030/1.0055 resistance
0.9980/09949 support
During the midterm elections, the market has fluctuated rapidly and must pay attention to risks. If EURUSD keeps strong, indirect positive for Swiss francs. Technically, the USD/CHF maximum resistance of 1.0085 must be concerned. If the euro rises further, the Swiss franc can only test 0.9980 support. In the face of the political uncertainty of the US midterm elections, it is recommended to pay attention to trading risks.
USD/JPY
113.60/113.80 resistance
112.90/112.65 support
During the midterm elections of the US president, the market has fluctuated rapidly and must pay attention to risks. If the US political uncertainty factors affect the performance of the stock market, it will indirectly affect the decline of the US dollar against the yen. The above resistance and support levels are for reference only.
AUDUSD
0.7235/0.7255 resistance
0.7180/0.7160 support
During the midterm elections in US, the market has fluctuated rapidly and must pay attention to risks. The Australian dollar has recently touched the 0.7256 resistance against the US dollar in the near future, forming a double-top pattern in the short term, with a neckline of 0.7180. If the dollar strengthens, the Australian dollar has a chance to test support.
NZDUSD
0.6760/0.6785 resistance
0.6705/0.6670 support
New Zealand’s job data performance in the third quarter has improved significantly, boosting the New Zealand dollar. The US midterm election has entered the counting period, and the market is volatile and pays attention to risks. After the New Zealand dollar rose against the US dollar, it gradually fell back. The target market is repeated and is expected to be supported by 0.6760, 0.6785 resistance and 0.6705 and 0.6670.
USD/CAD
1.3155/1.3175 resistance
1.3085/1.3065 support
The US API announced a significant increase in crude oil inventories, which caused oil prices to fall and failed to boost the Canadian dollar. But more importantly, the US midterm election has entered the counting period, the market is volatile, and the market is concerned that the situation of the two parties brings the dollar rather than the Canadian itself. In the short term, you can refer to the resistance and support levels suggested above.
EUR/GBP
0.8700/0.8680 support
0.8750/0.8770 resistance
The euro continued to fall against the pound. The market waits for the outcome of the EU finance ministers meeting and the Brexit negotiations, and believes that the advantages of the pound. If EURUSD continue to hold strong, the euro has a chance to fall against the pound.
EURCHF
1.1470/1.1485 resistance
1.1440/1.1425 support
The euro maintained strengthened, boosted the EURCHF. Technically, the euro has continued to rise against the Swiss franc. Reference resistance is 1.1470 and 1.1485. If it falls below the 1.1440 and 1.1425 support areas, the trend will likely fall.
XAUUSD :
1232/1235 resistance
1223/1220 support
The uncertainty of the US midterm elections and the impact of stock market downturns, gold has the opportunity to test 1236 or 1239 resistance, the view remains unchanged. Technically, 1236 and 1239 are large adjustment zone resistances. If the US election the republicans loses seats in the midterm elections, the risk appetite rises, and gold has the opportunity to explore 1239 important resistance. On the contrary, it will support the downside and have the opportunity to test $1222 and $1220. The US midterm election has entered the counting period, the market is volatile, we must be paid attention when trading.
US crude oil futures:
62.45/62.65 resistance
61.15/60.85 support
After the crude oil price broke the August low support of 63.90, the trend was further go down . Affected by the sharp increase in crude oil inventories, crude oil prices have fallen, found the supported areas of 61.80 and 61.15. ElA crude oil inventory report is to be reported tonight. If the inventory does not increase significantly, crude oil prices are expected to rebound. In addition, during the mid-term election, the crude oil market has also fluctuated rapidly, we must be paid attention when trading.
BTCUSD:
6580 / 6615 resistance
6320 /6195 support
In the mid-term election, the political uncertainty and the risk of stock market. Crypto currencies may think as a safeguard, the bitcoin has the opportunity to go up. In this morning, the price of bitcoin had reached US6544. Now may keep watching the election result and find out the trend of the bitcoin. Technically, 6615 as the rebound level 38.2%.
Hope you enjoy and have happy trade! 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.
The US presidential midterm election ended, the seats were redistributed, and the Republican Party led by Trump stabilized the Senate seat and did not affect the ability of US President Trump to govern. The market responded well, the US stock market rose, and the US dollar finally got support and rebounded with the Dow. Once again prove that the normality of the investment market is the truth of "seeing the weather after the storm."
The next step in the market will be to watch the Fed meeting on interest rates. At 3 am Beijing time on Friday, the Fed will announce its monetary policy orientation. Most investors believe that the Fed will raise interest rates by 0.25% when it raises interest rates in December. It is hoped that this meeting will find further clear answers, and in the short term, Europe and other countries are not ready to raise interest rates. It is estimated that the US dollar will be supported. Flow to the dollar. If gold and silver are expected to rise in the US dollar interest rate, bearish sentiment is expected to heat up, and the stock market and oil prices will have downside risks. Please pay attention!
Today's suggestion:
EURUSD
1.1455/1.1470 resistance
1.1395/1.1375 support
During the US presidential midterm elections, the euro had risen and once challenged the resistance of 1.1495. In the final US presidential election, the Republican Party has guaranteed more seats and the dollar rebounded. On the eve of the Fed’s interest rate decision, the US dollar is strong and bearish against the euro. Technically, you can refer to 1.1455 and 1.1470 resistance and 1.1375 support. If it falls below 1.1375 support, the first target is set at 1.1355.
GBPUSD
1.3155/1.3170 resistance
1.3105/1.3085 support
The British Prime Minister submitted the Brexit plan as soon as possible this week to resolve the Irish border issue. He is looking forward to the acceptance of the EU Brexit Committee and is currently bullish. Technically, GBP continues to develop in the rebound. 1.3173 was 85.2%% resistance to the rebound, and failed to break through yesterday. If the adjustment is stabilized on the support of 1.3085, it is expected that the pound will once again explore the resistance. However, it is necessary to pay attention to the situation of the Brexit negotiations, and whether it can cope with the rising conditions of the GBP, otherwise there will be great downside risks.
US dollar against Swiss franc
1.0005/0.9985 support
1.0035/1.0050 resistance
During the US presidential midterm elections, Europe and the United States strengthened, and indirectly benefited the Swiss franc. Technically, the US dollar has seen 0.9952 against the Swiss franc. If the euro can rebound, the dollar will be able to test 0.9985 support against the Swiss franc. But facing
USD/JPY
113.80/114.00 resistance
113.45/113.25 support
The Fed’s interest rate decision, under the strong dollar, is believed to still see more US dollar against the yen, and the 114 level opportunity will increase. But we must pay attention to the performance of the US Dow and the Japanese Nikkei. If the stock market falls, it will cause the dollar to fall against the yen.
AUDUSD
0.7280/0.7300 resistance
0.7255/0.7240 support
Sino-US trade relations have eased, making Sino-Australian trade cooperation better, and the Australian dollar has been on the US dollar. However, the Fed’s interest rate is imminent, the US dollar has a chance to strengthen, and the Australian dollar may adjust first, and then test the support below.
NZDUSD
0.6785/0.6800 resistance
0.6740/0.6720 support
Sino-US trade relations eased, making China-Australia trade cooperation better, the New Zealand economy accepting benefits, and the New Zealand dollar against the US dollar. However, the Fed’s interest rate is imminent, the US dollar has a chance to strengthen, and the New Zealand dollar may adjust first, and then test the support below.
USD/CAD
1.3155/1.3175 resistance
1.3105/1.3085 support
US crude oil inventories have increased sharply, causing oil prices to fall. The Fed’s interest rate cuts have made investors cautious and observe. Oil prices are low and fail to boost the Canadian dollar. If the oil price rebounds, positives Canadian dollar, the USDCAD is expected to test 1.3085 support. Short-term 1.3155 and 1.3175 are reference for resistance.
EUR/GBP
0.8720/0.8740 resistance
0.8695/0.8675 support
The euro continued to fall against the pound. The market waits for the outcome of the EU finance ministers meeting and the Brexit negotiations. If EURUSD continue to hold strong, the euro still has a chance to fall against the pound. 0.8720 and 0.8740 are short-term resistance respectively. If the rebound breaks through the resistance, the trend has the opportunity to go up.
EURCHF
1.1470/1.1485 resistance
1.1440/1.1425 support
The euro's strong performance led the euro to rise against the Swiss franc. At present, the market is waiting for the Fed interest rates decision and keep the range fluctuating. Technically, refer to the resistance of 1.1470 and 1.1485. If it falls below the 1.1440 and 1.1425 support areas, the trend will likely fall.
XAUUSD :
1231/1233 resistance
1222/1220 support
In the US mid-term election, the Republican Party led by the president Trump succeeded in maintaining interest rates in the Senate. After the gold touched the resistance of 1236, it adjusted and the target was down to 1222 and 1220 dollars. It is expected that gold will continue to test lower support before the Fed's interest rate decision.
US crude oil futures:
61.35/61.15 support
62.45/62.65 resistance
Crude oil prices have fallen, and US crude oil futures have technically further supported areas of 61.80 and 61.15. It is expected that crude oil prices will continue to fall below the low level before the Fed's interest rate decision. After the Fed’s interest rate decision, it is expected to eliminate market worries and bring the price rebound.
BTCUSD:
6580 / 6615 resistance
6320 /6195 support
After the US mid-term election, the political uncertainty and the risk of stock market. Crypto currencies may think as a safeguard, the bitcoin has the opportunity to go up. The price of bitcoin had chance to reach US6544. Now may keep watching the election result and find out the trend of the bitcoin. Technically, 6615 as the rebound level 38.2%.
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.
The Fed’s interest rate meeting kept interest rates unchanged, but the Fed’s monetary policy orientation is tightened. It is expected that the Federal Reserve will raise interest rates by 0.25% on the 19th of next month. Investors increased their investment in dollar assets and the dollar rose. On the other hand, the European Commission expressed dissatisfaction with Italy's fiscal deficit, worried about the overall economic burden of the euro zone, and the euro fell, indirectly affecting the pound. The rise in the US dollar interest rate is expected to drive down the price of gold and silver. The bearish sentiment is expected to continue, and the oil price is also facing downside risks. Please pay attention!
At 17:30 pm, the performance of the third quarter GDP, industrial output and commodity trade accounts in the UK is noteworthy. Any data is positive, and it is more profitable than the US dollar.
At 21:30 and 23:00 in the evening, keep watching the US PPI in October, the wholesale sales in September and the initial value of the University of Michigan consumer confidence index in November. These all data could affected the dollar trend and the performance of the US Dow. Gold, silver and oil prices.
Today's suggestion:
EURUSD
1.1375/1.1390 resistance
1.1350/1.1335 support
Although the Fed’s interest rate decision remains unchanged, the policy orientation is biased. It is expected that the Fed will raise interest rates next month, making the US dollar strong and bearish against the euro. Technically, EURUSD have adjusted from 1.1498, and have returned to the low of November 5, and can refer to the resistance of 1.1375 and 1.1390. As likely recommendation yesterday, EURUSD fell below 1.1375 and 1.1355. Now if following the downward, 1.1315 and 1.1300 become a key support areas.
GBPUSD
1.3085/1.3105 resistance
1.3000/1.2975 support
The Fed’s interest rate decision shows that the monetary policy is biased toward the eagle. It is expected that the Fed will raise interest rates next month, making the dollar strong and bearish. Technically, after the pound has ended its rebound, the adjustment target of 1.3085 has exceeded and the downside risk has increased. Pay attention to the performance of important economic data in the UK in this afternoon, and whether the results can change the bearish sentiment.
USDCHF
1.0035/1.0015 support
1.0080/1.0095 resistance
The Fed’s interest rate decision shows that the monetary policy is biased towards the eagle. It is expected that the Fed will raise interest rates next month, making the US dollar strong and bearish the Swiss franc. Technically, the US dollar against the Swiss franc once again looked at resistance at 1.0080 or 1.0095. Under the expectation that the US dollar trend remains strong, the USDCHF has limited adjustment and the trend continues to rise.
USD/JPY
114.00/114.15 resistance
113.60/113.45 support
After the Fed’s interest rate decision, the monetary policy orientation made the US dollar strong, and the USD/JPY once tested 114. However, the interest rate hike is expected to cause the US Dow and Japan's Nikkei to fall, which will cause the dollar to fall against the yen. It is recommended to keep an eye on stock market performance and how it will affect the dollar against the yen.
AUDUSD
0.7255/0.7270 resistance
0.7215/0.7200 support
The Fed’s interest rate monetary policy orientation tightened, the US dollar strengthened, the Australian dollar adjusted against the US dollar, and the support below was down. Technically, after the Australian dollar has doubled against the US dollar, there is a chance to test 0.7215 and 0.7200 support. The important support for reference is 0.7180.
NZDUSD
0.6770/0.6790 resistance
0.6725/0.6705 support
The Fed’s interest rate monetary policy orientation tightened, the US dollar strengthened, the Australian dollar adjusted against the US dollar, and the support below was down. Short-term resistance of 0.6770 and 0.6790 is worth noting. If there is no reason to break the resistance, there is a chance to test 0.6725 and 0.6705 support.
USD/CAD
1.3190/1.3220 resistance
1.3130/1.3100 support
The Fed’s interest rate monetary policy orientation has tightened and the US dollar has strengthened. At the same time, tightening monetary policy affects consumption and production power, which will increase crude oil inventories and cause oil prices to fall, which is bad for the Canadian dollar. In the short-term USD/CAD, 1.3155 and 1.3175, the resistance level has broken through and it is expected to continue to look forward to 1.32. If the oil price can rebound, it is expected to increase the Canadian dollar.
EUR/GBP
0.8695/0.8675 support
0.8720/0.8740 resistance
The EURGBP remained flat in the 0.8695/0.8675 support. The European Commission is not satisfied with the Italian deficit and may affect the euro. If EURUSD continue to strengthen against the pound, the euro still has a chance to fall against the pound. 0.8720 and 0.8740 are short-term resistance respectively. If rebound and breaks through the resistance, the trend has the opportunity to go up.
EURCHF
1.1440/1.1460 resistance
1.1420/1.1405 support
Technically, the euro is in the adjustment phase of the Swiss franc, and the reference resistance is lowered to the resistance of 1.1440 and 1.1460. After the price has fallen below 1.1440, the support below can refer to 1.1405.
XAUUSD
1224/1227 resistance
1218/1215 support
The Fed’s interest rate monetary policy orientation has tightened, and the US dollar has strengthened. Gold is facing adjustment risks and has reached the expected target of 1222 and US$1220. In coming next month before the FOMC meeting, it is expected that the Fed’s monetary policy stance will allow gold to continue to explore the 1212 support below the dollar or lower.
US crude oil futures:
60.35/60.15 support
61.45/61.65 resistance
After the Fed’s interest rate decision, the market expected monetary policy to tighten, affecting crude oil demand, and US crude oil prices fell further, falling below the 61.80 and 61.15 support areas. It is currently expected that the supply of crude oil will eliminate market worries and reduce the chances of rebound in crude oil prices.
BTCUSD:
6580 / 6615 resistance
6320 /6195 support
After the US mid-term election, the political still have uncertainty and higher risk in stock market. Crypto currencies may think as a safeguard, the bitcoin has the opportunity to go up. The price of bitcoin had chance to reach US6544 and test the technically resistance US6615.
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.
There are no special issues in the market today. The market focus may be on the opening of the Asia-Pacific Economic and Trade Organization Summit and Chinese Premier Li Keqiang attending the 21st China-ASEAN Leaders' Meeting and the 13th East Asia Summit. It may believe that the summits and publications will have the opportunity to bring good news, inspire the market, and benefit the Asia Pacific stock market and currency.
The market waits on the eve of the German and Eurozone GDP performance on Wednesday, Germany will announce October CPl data tomorrow, the current market is expected to be flat compared with last month, but it is still expected to boost the euro. Tomorrow, the UK announced the unemployment rate and the number of unemployment benefit applicants in October. The market now ma expects the pound to maintain a downward trend.
This week, special attention was paid to the speech of Fed Chairman Powell on Thursday and European Central Bank President Draghi on Friday. The performance of important economic data in Europe and the United State.
Today's suggestion:
EURUSD
1.1375/1.1390 resistance
1.1320/1.1305 support
The euro zone lacks any good news, and the European Union are weak after the Fed considers interest rate hikes next month. Technically, the euro still has a chance to test 1.1275 support against the US dollar. If it is stimulated by good news or will be supported by important data in the Eurozone in the next two days, positive the Euro, EURUSD are expected to test the reference resistance above, such as 1.1375. However, there is still a chance to explore important support levels in the short term, such as 1.1305.
GBPUSD
1.3040/1.3065 resistance
1.2975/1.2950 support
The Fed’s interest rate decision shows that the monetary policy is biased towards the hikes. It is expected that the Fed will raise interest rates next month, making the dollar strong. The UK faces many obstacles in the face of Brexit, and it is bad for the pound. Tomorrow, the UK announced employment data for October. Technically, after the pound has ended its rebound, it has continued to adjust its downward trend. The 1.2950 is a short-term important support reference.
USDCHF
1.0065/1.0050 support
1.0085/1.0105 resistance
The Fed’s interest rate decision shows that the monetary policy is biased towards the hikes. It is expected that the Fed will raise interest rates next month, making the US dollar strong and bearish the Swiss franc. Technically, the US dollar against the Swiss franc is expected to follow the weakness of Europe and the United States, looking forward to the resistance zone of 1.0080 or 1.0095. Under the expectation that the US dollar trend remains strong, the USD/Swiss franc has limited adjustment and the trend continues to rise. However, we must pay attention to the expected data and results of the Eurozone in the next two days. Looking for boost the European currency and drive the Swiss franc to rise.
USD/JPY
114.00/114.15 resistance
113.60/113.45 support
After the Fed’s interest rate decision last week, the monetary policy orientation made the dollar strong, and the dollar against the yen had 114. However, the interest rate hike is expected to cause the US Dow and the Japanese Nikkei index to fall, which will cause the dollar to fall against the yen. It is recommended to keep an eye on stock market performance and how it will affect the dollar against the yen.
AUDUSD
0.7255/0.7270 resistance
0.7215/0.7200 support
The APEC meeting has the opportunity to propose new proposals and new strategic cooperation, which will help promote economic development in the Asia-Pacific region and enhance market expectations. After the Fed’s interest rate monetary policy, the US dollar strengthened and the Australian dollar adjusted. If the APEC meeting's comments boost morale, the Australian dollar is expected to rise.
NZDUSD
0.6770/0.6790 resistance
0.6725/0.6705 support
As the Fed’s monetary policy seems tightens, the US dollar strengthens and the New Zealand dollar adjusts against the US dollar. Short-term resistance of 0.6770 is worth noting. If there is no resistance to break the uptrend, there is a chance to test 0.6725 and 0.6705 support. However, it is necessary to pay attention to the opportunity of the APEC meeting, which will help promote economic development in the Asia-Pacific region. If the Australian dollar or the renminbi rises, it is believed that the New Zealand dollar will simultaneously follow.
USD/CAD
1.3190/1.3220 resistance
1.3130/1.3100 support
The US Federal Reserve’s monetary policy seen tightened and the US dollar has strengthened. The market estimates that crude oil inventories will continue to increase, causing oil prices to fall, which is negative for the Canadian dollar. In the short-term USD/CAD, 1.3155 and 1.3175, the resistance level has broken through and it is expected to continue to look forward to 1.32. If oil prices can rebound suddenly, it is expected to change the weak trend.
EUR/GBP
0.8695/0.8680 support
0.8740/0.8755 resistance
The euro against the pound in the 0.8695/0.8675 support level temporarily received support, looking forward to 0.8740 first resistance. The European Commission is dissatisfied with the Italian deficit and may affect the euro's decline. The euro still has a chance to fall against the pound. 0.8720 and 0.8740 are short-term resistance respectively. If the rebound breaks through the resistance, the trend has the opportunity to go up.
EURCHF
1.1425/1.1435 resistance
1.1415/1.1405 support
The European Commission is dissatisfied with the Italian deficit and may affect the euro's decline. The euro still has a chance to fall against the Swiss franc. Technically, the euro is in the adjustment phase of the Swiss franc, and the reference resistance is lowered to 1.1425 and 1.1435 resistance. The support below can be referenced to 1.1405.
XAUUSD
1222/1224 resistance
1218/1215 support
Last Friday, the Fed’s monetary policy orientation tightened, the US dollar strengthened, and gold faced adjustment risks, which have reached the expected target of 1222 and 1,220 dollars. It is expected that the Fed’s monetary policy stance will allow gold to continue to explore the support below. Technically, there is still a downside risk in the gold trend. If the adjustment wave is 73.6% and 85.2%, respectively, the support level of 1218 or 1215. The next important support could be US1212. However, if gold rebounds and breaks through US1224, the trend may reverse, or it may look up to $1227.
US crude oil futures:
60.35/60.65 resistance
59.80/59.05 support
After the Fed’s interest rate decision, the market expects monetary policy to tighten, affecting production and consumption confidence, and falling demand for crude oil. OPEC failed to reach a reduction in production, resulting in an increase in crude oil inventories, which is also a bearish oil price. At present, we still hold and wait attitude, paying attention to the important support of 59.80 and 59.05.
BTCUSD:
6425 / 6500 resistance
6320 /6195 support
After the Fed’s interest rate decision, the market expects monetary policy to tighten, the demand of crypto currencies changed. Some capital and fund moved to bonds and debt markets to get higher returns and safety fund . Probably the trend may keep until the end of this year or next FOMC meeting in mid-December. Crypto currencies investors may have to concern.
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.
Fed officials expect that the US economy will continue to recover, and the performance of the job market and wages are expected to maintain growth, driving inflation, indicating that it is expected to maintain a gradual rate hike. The rise in interest rates led to a decline in consumer power and corporate earnings, and the US Dow fell. The US Dow closed down last night and continued to close. The futures market continued to decline this morning. FTSE China A50 futures and Japan's Nikkei index also fell, and the dollar fell against the yen.
The market is waiting the Germany's October CPl and UK job data in October. At 18:00 in the evening, the market focus on the ZEW economic sentiment index for Germany and the Eurozone in November as a forecast for tomorrow's European inflation data. In any case, the market focus will be on the growth forecast of the CPI in October and the US retail sales data in October after the release of the US, and the strength of the US dollar is expected to continue until the results are announced.
Later, this week, the Federal Reserve Chairman of the Board of Governors Powell and the European Central Bank President Mario Draghi spoke on Thursday, so keep watching the important economic data of Europe and the United States in the next two days.
EURUSD
1.1250/1.1275 resistance
1.1205/1.1180 support
Under the US CPl and retail sales growth forecast in October, the US dollar is strong. The Italian budget has worried the market, and the European Commission has threatened the Italian government to ignore the revision of the budget and may impose economic sanctions on it, which is bad for the euro. Technically, the euro fell below 1.1275 against the dollar. Without good news or strong performance in the euro area, the short-term euro still has the opportunity to test important support levels, such as 1.1205 or below.
GBPUSD
1.2910/1.2935 resistance
1.2815/1.2790 support
Fed officials said that the monetary policy orientation is biased, and the Fed is expected to raise interest rates next month, making the dollar strong. On this side of the United Kingdom, there are many obstacles in the face of the Brexit issue. Today, the UK announced October employment data, and tomorrow's inflation data including October CPl and retail sales are more worthy of attention. The market is expected that the pound will temporarily stabilize and stabilize today. Technically, the GBP has continued to adjust downwards. The adjustment wave is close to 73.6%, and 1.2815 is the short-term important support. If GBP break through the 1.2910 and 1.2935 reference resistance, the trend is expected to change.
USDCHF
1.0085/1.0065 support
1.0115/1.0135 resistance
The Fed's interest rate decision shows that the monetary policy is biased toward the hike. It is expected that the Fed will raise interest rates next month, and the US CPl and retail sales growth forecasts in October will make the US dollar strong and bearish the Swiss franc. Technically, the US dollar against the Swiss franc follows the weak pace of EUR, looking up the resistance zone above. Under the expectation that the US dollar trend remains strong, the USD/Swiss franc has limited adjustment and the trend continues to rise. However, it is necessary to pay attention to the important data results of the Eurozone, whether it can boost the European currency and drive the Swiss franc to rise.
USD/JPY
113.80/114.00 resistance
113.45/113.25 support
The dollar fell against the yen as the US Dow and the Japanese Nikkei index fell. It is recommended to keep an eye on stock market performance. If the stock market continues to fall, it will affect the dollar's decline against the yen.
AUDUSD
0.7180/0.7200 resistance
0.7150/0.7135 support
The launch of the APEC meeting will help promote economic development in the Asia-Pacific region and enhance market expectations. However, Fed officials said that the monetary policy orientation has tightened. Under the US CPl and retail sales growth forecast in October, the US dollar strengthened, and the Australian dollar continued to test support, and broke the important support of 0.7180. Technically, after the Australian dollar hit a double top, the important support level of 0.7180 fail the support. If the 0.7200 resistance does not break, the AUD’s trend is keeping weak.
NZDUSD
0.6725/0.6745 resistance
0.6680/0.6660 support
With the tightening of the Fed's monetary policy orientation, the US dollar strengthened in the October CPl and retail sales growth forecast, the New Zealand dollar fell below the support level against the US dollar, and tested the 0.6725 and 0.6705 support again this morning. Next step may be to test 0.6680 and 0.6660 support.
USD/CAD
1.3265/1.3280 resistance
1.3190/1.3170 support
The US Federal Reserve’s monetary policy orientation has tightened, and the US dollar has strengthened under the US CPl and retail sales growth forecasts for October. The oil price fell, making it even more bearish for the Canadian dollar. After the dollar broke the 1.3155 and 1.3175 resistance levels against the Canadian dollar, it has entered the 1.32 level. If the oil price suddenly rebounds, it is expected Canadian dollar go strong.
EUR/GBP
0.8700/0.8680 support
0.8740/0.8755 resistance
The euro against the pound in the 0.8695/0.8675 support level temporarily received support, looking forward to 0.8740 first resistance. The European Commission is dissatisfied with the Italian deficit and affects the euro. There is an opportunity for the euro to rebound against the pound. 0.8700 is short-term support. If the rebound breaks through the resistance of 0.8755, the trend has the opportunity to develop upward. Pay close attention to the performance of the euro zone in the next two days, can change the downward trend of the euro against the pound.
EURCHF
1.1355/1.1370 resistance
1.1315/1.1300 support
The European Commission is dissatisfied with the Italian deficit and affects the weakening of the euro. The euro still has a chance to fall against the Swiss franc. Technically, the euro has continued to fall against the Swiss franc. If there is no breakthrough in the resistance of 1.1355 and 1.1370, the downward trend is expected to continue. Pay close attention to the performance of the euro zone in the next two days, can change the downward trend of the euro against the Swiss franc.
XAUUSD
1206/1209 resistance
1202/1199 support
Federal Reserve officials said that the monetary policy orientation has tightened, interest rates have risen, and gold has been downward. The dollar is strengthening and gold is facing downside risks. However, the stock market continued to fall, and the risky funds flowed into gold at any time, causing the price of gold to rebound. Technically, there is still downside risk in the gold trend, and 1212 is a very important short-term resistance. If the stock market continues to fall, the resistance on the gold breaks, the trend may be reversed, and may be expected to reach 1218 and 1221 US dollars. It is recommended to pay close attention to the stock market trend shortly before the US CPl and retail sales data are released in October.
US crude oil futures:
60.35/60.65 resistance
58.75/58.45 support
After the Fed’s interest rate decision and Fed officials said that monetary policy is gradually tightening, affecting the global economy, production and consumption confidence, so that crude oil demand fell. OPEC failed to reach a cut production, resulting in an increase in crude oil inventories, which is also a bearish oil price. At present, it still holds and see attitude. After the important support of 59.05, it is worth noting the important support of 58.75 and 58.45. It is expected that the level of 58 US dollars has returned to normal levels, and the decline in oil prices may be limited.
BTCUSD:
6325 / 6380 resistance
6195 / 6045 support
After the Fed’s interest rate decision, the market expects monetary policy to tighten, the demand of crypto currencies changed. Some capital and fund moved to bonds and debt markets to get higher returns and safety fund . Probably the trend may keep until the end of this year or next FOMC meeting in mid-December. Crypto currencies investors may have to concern， the trend will keep going downward.
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.
ATFX continues to pursue an agenda that helps traders worldwide develop their knowledge of the financial markets. It attracted significant media attention in Taiwan, and in the latest interview in Smart Magazine Taiwan Mr. Jeff Hsu, Managing Director of ATFX (Southeast Asia) and Ms. Jade Chen, General Manager of ATFX (Taiwan), explained the latest moves of the company. Mr. Hsu said, “The prospect of Taiwan’s businesses remains optimistic,” he explained, “ATFX has continued its principled commitment of educating its investors by conducting a series of seminars in Asia.” Trader education is the main topic this year, with the online trading company looking to provide a holistic service which includes its trading platform, along with a team of skilled and experienced professionals, allowing clients to gain access to comprehensive trading services.
In November, ATFX participated in International FinanceWord Forum, which hosted an event in the country on the 10th to the 11th of November at W Hotel Taipei. This B2B expo was organized by FinanceWord, and was held with over a massive 2,000 in attendance, making it a famous and significant financial B2B expo in Asia.
In addition, the company has been nominated to receive the “Best Trader Education Service Provider” at the forum. This award means plenty to ATFX, giving it confidence and a positive attitude in its well preparedness to handle the educational aspect of the business.
Mr. Justin Lee, one of the team’s experts, was invited by the organizer to be its forum speaker whose discussion was titled “The Effective Way to Trade the Forex Market”. Over 500 hundred were in attendance for the speech, with its purpose to educate traders not just on the fundamentals of trading the financial markets and its instruments, but sharing his knowledge on how to use various trading strategies and risk tools effectively.
In terms of future seminars, ATFX is committed to continue its path of attending events and holding regular seminars throughout the remainder of 2018.
Legal: ATFX is a trading name of AT Global Markets Limited (ATGM, registration number 224226 IBC 2017). ATGM is an International Business Company in Saint Vincent and the Grenadines. Registered address is: The Financial Services Centre, Stoney Ground, Kingstown, St. Vincent & the Grenadines.
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