ATFX Press Releases - 2018

[Kelly Yeung]

The US Federal Reserve’s monetary policy meeting record shows that the Fed maintains a gradual rate hike to boost the dollar. The market watched the Jackson Holes, Global Bank Central Bank Annual Meeting for three days to learn more about the global central bank's monetary policy, especially the speech of Fed Chairman Powell at the meeting. The market estimates that Powell may reveal the latest monetary policy implications of the Fed. In addition, the US President has repeatedly stated that he is not satisfied with the Fed’s interest rate hike, and the outside world has questioned the president’s impediment to the independence of the Fed and its influence on the dollar’s prestige. I look forward to Powell's clarification.

This week, there is a lack of important US economic data. The number of jobless claims and new home sales data, as well as the manufacturing and service purchasing managers' index, can be used as a reference for the US economy. If the data is better than market expectations, it can boost the dollar. Further confirmation of US economic data is more important to estimate the impact of US gross domestic product next week, and even affect the Fed's monetary policy decision.

Today's suggestion:

EURUSD
1.1585/1.1600 resistance
1.1545/1.1530 support
Yesterday, EURUSD once hit 1.1620. With the minutes of the Fed's FOMC monetary policy meeting, the Fed's monetary policy continued to raise interest rates gradually, which favored the US dollar. The euro's high level fell back, and it is now down to 1.1530. If the US economy and employment data are strong tonight, there is a chance to further test 1.1480.

GBPUSD
1.2905/1.2925 resistance
1.2850/1.2830 support
The Fed’s monetary policy continues to gradually increase interest rates, which is good for the US dollar. On the contrary, after the UK raised interest rates in early August, the short-term interest rate hike is low and the trend is weak. In addition, the trend of the euro has turned, and it is expected that the pound will follow the pace. Therefore, the trend of short-term pounds and the United States, continue to refer to the euro.

USDCHF
0.9830/0.9815 support
0.9885/0.9910 resistance
The Swiss franc continues to be dominated by the euro. The euro reversed its downward trend, driving the Swiss franc to follow the decline. Currently maintaining 0.9830 and 0.9815 support range, up to 0.9885 and 0.99 level.

USD/JPY
110.60/110.45 support
111.20/111.45 resistance
The Fed continued to raise interest rates gradually and the dollar rose. As the Nikkei index continued to rise, the dollar finally followed the gains against the yen. The current is testing 111.20 and the high of 111.45 two weeks ago.

AUDUSD
0.7305/0.7320 resistance
0.7270/0.7250 support
The market has already digested Australian data performance. The dollar strengthened and indirectly suppressed the Australian dollar. In addition, the Fed’s monetary policy meeting record showed a hawkish stance and supported a rate hike, after which the Australian dollar fell. Currently preparing to test 0.7250 support, but the US economic data must be in line with the growth momentum. The US data tonight is worth noting.

NZDUSD
0.6690/0.6705 resistance
0.6640/0.6620 support
The market has already digested the performance of New Zealand data yesterday. As the dollar strengthened, it indirectly suppressed the New Zealand dollar. In addition, the Fed’s monetary policy meeting record showed a hawkish stance and supported a rate hike, and the New Zealand dollar fell. Currently preparing to test 0.7250 support, but the US economic data must be in line with the growth momentum. The US data tonight is worth noting. In addition, New Zealand will announce the trade account tomorrow, and the market is waiting to see.

USD/CAD
1.3025/1.3000 support
1.3065/1.3080 resistance
Negotiations on North American trade agreements have progressed, crude oil inventories have decreased, and oil prices have rebounded. Both sides have a bullish Canadian dollar. The Fed’s monetary policy meeting record shows the hawkish position and supports raising interest rates to curb the Canadian dollar. Technically, pay attention to the ups and downs from 1.30 to 1.31. 1.2960 is a very important support. The US data tonight is also worth noting.

EUR/GBP
0.9000/0.9020 resistance
0.8960/0.8945 support
The euro is stronger than the pound and the euro is rising against the pound. Technically, the euro broke the 0.8965 against the pound, the trend has changed, and the trend may be upward. At present, we are paying attention to the next resistance target of 0.9020, but we must pay attention to the risk of reversal before the emergence of 0.90.

EURCHF
1.1395/1.1405 resistance
1.1360/1.1345 support
With the improvement of the Turkish currency crisis, the euro rebounded against the Swiss franc and rebounded. Technically, 1.1405 is the initial resistance. However, it must be noted that after the emergence of 1.14, the euro has a downside risk against the Swiss franc.

XAUUSD
1194/1196 resistance
1187/1185 support
The Fed’s monetary policy meeting record shows the hawkish stance and supports the pace of interest rate hikes. Progress in North American trade negotiations, market risk sentiment improved, negative for gold, have the opportunity to test 1192, and further develop to 1180 important support.

US crude oil futures:
66.75/66.35 support
68.35/68.75 resistance
The decline in crude oil inventories has spurred a rebound in oil prices. Following the early focus on maintaining $64 support, it is currently focusing on the important resistance above $69.

BTCUSD:
6567 / 6780 resistance
6070 / 5970 support
The market keeps expected bathe US fed hike in coming next month. It seems negative for the demand and interest in crypto currencies. Also, many restrictions for crypto currencies also negative to the crypto currencies trend will face downward. If the US data showed strong, crypto currencies could downward.

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.
wechat: ATFX_China

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

 

[Kelly Yeung]

The Fed’s monetary policy meeting record kept a gradual rate hike and the funds were inclined to the US dollar. Market Watching Tonight, Federal Reserve Chairman Paul Powell gave a speech at Jackson Holes Global Central Bank Annual Meeting to learn more about the Fed's monetary policy. The market estimates that Powell may reveal the latest monetary policy implications of the Fed. In addition, whether the central bank’s annual meeting will talk about the impact of the US on the global trade war and its response plan are worthy of attention.
At 14:00 this afternoon, Germany's second quarter GDP and 20:30 in the evening, US July durable goods orders were concerned by the market. The market expects German data to remain flat at 2.3%. The US durable goods orders in July are expected to fall.
Today's suggestion:
EURUSD
1.1530/1.1510 support
1.1585/1.1600 resistance
The Fed’s monetary policy meeting record showed a gradual rate hike, boosting the dollar, and the euro weakened. Reached the target 1.1530. If Germany's second-quarter GDP growth in the afternoon is better than expected, it may re-energize the euro. In addition, the US durable goods orders in July fell as expected. It will likely affect the US second-quarter GDP revision forecast next Wednesday, affecting the changes in the US dollar and indirectly affecting the euro. At present, according to the data performance calculation, it may be bullish euro.
GBPUSD
1.2795/1.2775 support
1.2855/1.2875 resistance
The Fed’s monetary policy continued to gradually increase interest rates, boosting the dollar, and the pound fell. The technical adjustment wave has reached 50%, 1.2795. There is no important data released in the UK, and it is expected that the trend of the pound will refer to the euro. The US durable goods orders for July tonight, the market is expected to fall. It will likely affect the US second-quarter GDP revision forecast next Wednesday, affecting the changes in the US dollar and indirectly affecting the trend of the pound.
USDCHF
0.9875/0.9890 resistance
0.9820/0.9805 support
The Swiss franc continues to be dominated by the euro. The euro fell, indirectly curbing the rise of the Swiss franc. Currently maintaining a resistance of 0.9875 and 0.9890. If Germany's second-quarter GDP growth in the afternoon is better than expected, it may re-energize the euro. Or tonight, US durable goods orders in July are not performing well, and the US dollar is falling, which is expected to boost the Swiss franc.
USD/JPY
111.45/111.65 resistance
110.90/110.75 support
The dollar followed the yen's gains against the yen. Has challenged 111.45 resistance, also high two weeks ago. However, it is estimated that the US economic data will weaken, and the US stock market has the opportunity to expand the decline. USDJPY could be downtrend.
Australian dollar against the dollar
0.7235/0.7220 support
0.7265/0.7280 resistance
The minutes of the Fed’s monetary policy meeting showed that the hawkish position fell. Currently under the 0.7250 support. But tonight the US economic data may be poor, it has the opportunity to boost the Australian dollar.
NZDUSD
0.6630/0.6615 support
0.6660/0.6675 resistance
The minutes of the Fed’s monetary policy meeting showed that the hawkish position of the New Zealand dollar fell. This morning, the New Zealand trade account deficit expanded, but exports also increased significantly, offsetting the negative factors. But tonight the US economic data may be poor, it has the opportunity to boost the New Zealand dollar.
USD/CAD
1.3105/1.3125 resistance
1.3055/1.3035 support
The market digested the good news of the North American trade agreement. The minutes of the Fed’s monetary policy meeting showed that the hawkish position and support for interest rate hikes dragged the Canadian dollar down by a hundred points. Technically, pay attention to the ups and downs from 1.30 to 1.31. If the US economic data may be poor tonight, the dollar will have a chance to boost the Canadian dollar. USD/CAD may test 1.3055 or 1.3035.
EUR/GBP
0.9020/0.9040 resistance
0.8980/0.8960 support
The euro is stronger than the pound and the euro is rising against the pound. At present, the resistance target has reached 0.9020, but it must be noted that the trend may be reversed.
EURCHF
1.1395/1.1405 resistance
1.1370/1.1355 support
Technically, 1.1405 is the initial resistance. However, attention must be paid to the resistance above 1.14, while the current EUR/CHF has a downside risk.
XAUUSD
1183/1180 support
1191/1193 resistance
The market has already digested the Fed’s monetary policy hawkish stance and the pace of interest rate hikes. In the short-term elimination of the bearish gold factor, the gold trend may change. 1180 important support is not broken, bad US data, there is an opportunity to boost gold.
US crude oil futures:
68.75/69.05 resistance
67.75/67.40 support
The decline in crude oil inventories has spurred a rebound in oil prices. Short-term focus on maintaining the support of $67, looking forward to resistance of $69. If it breaks $67, the trend may change to downward and the target is $65.
BTCUSD:
6667 / 6780 resistance
6220 / 6070 support
The market keeps expected bathe US fed hike in coming next month. It seems negative for the demand and interest in crypto currencies. Also, many restrictions for crypto currencies. It is negative for the crypto currencies. The trend will downward. If the US data showed strong, crypto currencies could downward. The market is looking the US durable order data is bad, the bitcoin rebound. If the data fair, it could be negative the bitcoin and downward.

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.
wechat: ATFX_China

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

 

[Kelly Yeung]

Federal Reserve Chairman Powell further established the Fed's monetary policy in a speech at the Jackson Hole Global Bank Central Bank's annual meeting on last Friday. However, Powell revealed that the Fed’s monetary policy rate hike conditions must increase inflation rate by more than 2%. He reiterated that the current level of US economic inflation has not exceeded this range, suggesting that the Fed may not raise interest rates next month, that is, the market dollar fell, driving the major currency against the US dollar. Even the price of gold broke through $1,200 resistance.


Today's attention to the data is mainly at 16:00 pm, Germany's lFO business climate index in August. The market expects German data to rise from last month, it helps the euro rise. And the pound and the Swiss franc may benefit, a lot of European currencies. It must be borne in mind that this week's important economic data is the US second quarter real GDP correction on Wednesday. If it meets the 4% growth, it will benefit the US dollar. Therefore, it is possible to face the adjustment risk by chasing the major currencies against the US dollar and gold.


Today's suggestion:


EURUSD

1.1625/1.1610 support

1.1660/1.1675 resistance

Last Friday, Germany’s second-quarter GDP was flat compared with the previous month and also supported the euro. In addition, US durable goods orders in July were dropped larger than market expectations. The comments of the Fed’s chairman further dragged down the dollar and boosted the euro. But today, as the news is digested by the Asian and European markets, there may be adjustment EURUSD after the Germany’s data.


GBPUSD

1.2835/1.2815 support

1.2885/1.2905 resistance

Last Friday, Germany's second-quarter GDP was flat compared with the previous month, and it also supported the euro, while supporting the pound. In addition, US durable goods orders in July were dropped larger than market expectations. The comments of the Fed’s chairman further dragged down the dollar and boosted the pound. But today, it may be digested by the Asian and European markets with the above news. At the beginning of the night, there may be adjustment opportunities for pound.


USDCHF

0.9820/0.9810 support

0.9845/0.9860 resistance

The basic principle remains the same, and the Swiss franc continues to be dominated by the euro. If the euro falls, it will indirectly curb the Swiss franc's gains. Currently the USDCHF maintaining the target of 0.9875 and 0.9890 resistance.


USD/JPY

111.45/111.65 resistance

110.90/110.75 support

The dollar rose against the yen following the Nikkei. Once challenged 111.45 resistance, technically it was a high number in recent months. However, note that the key resistance of 111.45 or 111.65 is not broken, and the dollar may adjust to fall against the yen.


AUDUSD

0.7345/0.7360 resistance

0.7305/0.7290 support

US durable goods orders in July were much worse than market expectations. The comments of the Fed’s chairman further dragged down the dollar and boosted Australia and the United States. But today, with the above news being digested by the Asian and European markets, AUDUSD may have opportunities for adjustment at night.


NZDUSD

0.6705/0.6715 resistance

0.6670/0.6655 support

New Zealand’s trade account deficit widened last week, but exports have increased sharply, offsetting negative factors. Finally, with the analysis, under the US economic data slip, the negative dollar, boosting the New Zealand dollar. Today, as the news is being digested by the Asian and European markets, US trading hours may have opportunities to adjust.


USD/CAD

1.3005/1.2985 support

1.3055/1.3075 resistance

US economic data is weak, Fed policy may have a negative dollar and oil prices, to boost the Canadian dollar, USDCAD test 1.3035 support and broke. However, oil prices may end their gains and the Canadian dollar may be adjusted. USDCAD has the opportunity to rebound to 1.3055 or 1.3075 last resistance.


EUR/GBP

0.9060/0.9075 resistance

0.9025/0.9005 support

The euro is stronger than the pound and the euro is rising against the pound. At present, the resistance target has reached 0.9020, and it is necessary to pay attention to the possibility of reversal.


EURCHF

1.1445/1.1465 resistance

1.1370/1.1355 support

Technically, the initial resistance of 1.1405 has archived. However, it must be noted that the resistance above 1.14 is heavy, and the euro has a downside risk against the Swiss franc, which deserves attention.


XAUUSD

1208/1211 resistance

1201/1198 support

The weak US economy data and the comments of the Fed’s chairman dragged the dollar and boosted gold. The market is waiting to see the results of US GDP data on Wednesday, and gold may adjust in the short term. At present, the important support is 1198. If the support is not broken in US1201 and US1198 respectively, the trend is still upward.


US crude oil futures:

68.85/69.05 resistance

67.95/67.60 support

Last week, crude oil inventories fell, and the Fed chairman’s remarks stimulated the rebound in oil prices. After reaching the target resistance of $69, the oil price has adjusted. Adjustment targets may be under $67. Only short-term target support is supported at 67.95 and 67.60.


BTCUSD:

6780 / 6875resistance

6320 / 6170 support

The US durable order data is bad, the bitcoin rebound Moreover, the Fed chairman’s remarks stimulated the rebound in crypto currencies. Now may test higher resistance.


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.
wechat: ATFX_China

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

 

[Kelly Yeung]

The risk aversion retreat and Fed Chairman Powell’s dovish speech last Friday, the dollar’s demand fell, driving the main currency against the dollar, and the price of gold continued to be above $1,200. To ease the risk aversion, mainly in the North American trade negotiations, the United States and Mexico trade agreement. Immediately, US President Trump and the Canadian Prime Minister will restart negotiations. The market is expected to reach an agreement between the two sides to improve relations between the two countries and stimulate trade between the two countries. Risk aversion has cooled, trade wars have improved, and bullish oil prices have been supported.
Today's suggestion:
EURUSD
1.1710/1.1725 resistance
1.1655/1.1640 support
The comments of the Federal Reserve Chairman dragged down the US dollar. Last night, the United States and Mexico made achievements in the North American trade negotiations, and safe-haven funds flowed out of the US dollar to boost the euro. However, the market is waiting to see if the US GDP will reach the 4% growth forecast tomorrow night, and even continue to the US employment data next week. Therefore, if EURUSD rise to 1.17 level, there may be an adjustment decline. The first target support is 1.1640.
GBPUSD
1.2905/1.2925 resistance
1.2835/1.2815 support
Earlier comments by the Fed’s chairman further dragged down the dollar and boosted the pound. The cooling of the trade war will help the funds return to the European currency and support the pound. However, the market is waiting to see if the US GDP will reach the 4% growth forecast tomorrow night, and even continue to the US employment data next week. In addition, the Brexit is still without any results, and it is always dragging down the pound. Therefore, pay attention to the fact that if the pound is up to 1.29, there may be a downward adjustment. The first target support is 1.2815.
USDCHF
0.9800/0.9780 support
0.9845/0.9860 resistance
The basic principle remains the same, and the Swiss franc continues to be dominated by the euro. If the euro falls, it will indirectly curb the Swiss franc's gains. Currently still maintaining the target of 0.9875 and 0.9890 resistance.
USD/JPY
111.45/111.65 resistance
110.90/110.75 support
The dollar rose against the yen following the Nikkei. Will once again challenge the resistance of 111.45, technically many highs in the past month. Therefore, pay attention to the key resistance of 111.45 and 111.65. If not broken, the dollar may adjust to fall against the yen.
Australian dollar against the dollar
0.7345/0.7360 resistance
0.7305/0.7290 support
Last week, US durable goods orders in July were much worse than market expectations. The comments of the Fed’s chairman further dragged down the dollar and boosted Australia and the United States. However, the Australian Foreign Minister resigned or influenced the Australian dollar. And importantly, the market is waiting to see if the US GDP will reach 4% growth forecast tomorrow, and the short-term Australian dollar is bearish .
NZDUSD
0.6705/0.6715 resistance
0.6670/0.6655 support
New Zealand’s trade account deficit widened last week, but exports have increased sharply, offsetting negative factors. In the end, the US economic data turned worse, and the dollar was negative, boosting the New Zealand dollar. The market is waiting to see if the US GDP will reach the 4% growth forecast tomorrow night, and the short-term New Zealand dollar will bearish.
USD/CAD
1.2965/1.2945 support
1.3025/1.3045 resistance
US economic data is weak, Fed policy may have a negative dollar, plus oil prices, respectively, to boost the Canadian dollar, the dollar against the Canadian dollar not only test 1.3035 support, and then reopened with the North American trade negotiations, pushing up the Canadian dollar. If the oil price may end the increase, the Canadian dollar may be adjusted.
EUR/GBP
0.9075/0.9090 resistance
0.9025/0.9005 support
The euro is stronger than the pound and the euro is rising against the pound. At present, another resistance has been touched, and it is necessary to pay attention to the possibility of reversal.
EURCHF
1.1455/1.1470 resistance
1.1370/1.1355 support
Technically, the initial resistance of 1.1405 has arrived. However, it must be noted that the resistance above 1.14 is heavy, and the euro has a downside risk against the Swiss franc, which deserves attention.
XAUUSD
1211/1213 resistance
1206/1204 support
The weak US economy and the comments of the Fed’s chairman dragged the dollar and boosted gold. The market is waiting to see the results of US GDP data on Wednesday. It is expected that there will be a lot of resistance above $1211, and the downside risk will be carefully adjusted.
US crude oil futures:
69.20/69.45 resistance
67.95/67.60 support
The trade war has cooled down and there is an opportunity to increase demand. The Fed chairman’s remarks stimulated the rebound in oil prices. Currently looking at the target resistance of 69.20 US dollars or above, pay attention to the adjustment of oil prices. Adjustment targets may be under $67. Only short-term target support is supported at 67.95 and 67.60.
BTCUSD:
6875/7000 resistance
6320 / 6170 support
The US durable order data is bad, the bitcoin rebound Moreover, the Fed chairman’s remarks stimulated the rebound in crypto currencies. Now may reach higher resistance.

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.
wechat: ATFX_China

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

 

[Kelly Yeung]

ATFX Market Outlook, 2018 Aug 29

The North American trade agreement reached an agreement to ease trade tensions in North America, ease the risk aversion, change the dollar's gains, and flow funds into high-risk assets. Global stock markets generally rose. As the US consumer confidence index rose last night, the Fed identified the new Fed governor. It is generally believed that the Fed will raise interest rates next month and the dollar will rise at a low level. The euro was adjusted from 1.1735 to below 1.17, while the price of gold was adjusted from $1212 to $1,200.

Today, the market pays attention to the German consumer confidence index for September at 14:00, and if the result is better than expected, it will help the short-term bullish euro. Subsequently, the second quarter GDP results of France were only used as reference data. In the evening, Canada’s second quarter current account and the US second quarter real GDP correction figures, the market is watching. In particular, the actual GDP revision figures for the second quarter of the United States are the most concerned by the market. If GDP is less than 4% growth, it may make the market rise to the dollar and bearish the dollar. On the contrary, the growth rate is even higher than the previous value, which is expected to boost the US dollar. It can also stimulate other economic data outlooks in the market, and bullish US dollars.

Today's suggestion:

EURUSD
1.1715/1.1730 resistance
1.1655/1.1640 support
Earlier bad news on the dollar boosted the euro. But the market is waiting to see if the US second-quarter GDP revision can reach the 4% growth forecast. Therefore, as estimated yesterday, if the United States and Europe rise to 1.17 level, there may be adjustments and declines. If the US second-quarter GDP revision exceeds market expectations, the European and American callback opportunities will increase, and the initial target will support 1.1640.

GBPUSD
1.2905/1.2925 resistance
1.2835/1.2815 support
Earlier bad news on the dollar, the rise of European currencies, boosting the pound. However, the market mainly waits to see whether the US second-quarter GDP revision can reach the 4% growth expectation. In addition, the US consumer confidence index rises, and the UK Finance Minister, Carney , has no intention to stay in the post and other negative news about Brexit deal. If the bad news continues to hinder the pound, the target will look at 1.2815 or below.

USDCHF
0.9760/0.9745 support
0.9845/0.9860 resistance
The basic principle remains unchanged for the time being, and the Swiss franc continues to follow the development of the euro. However, it is worth paying attention to the Swiss Investment Confidence Index and the Economic Status Index. The result has the opportunity to influence the trend of the US and Switzerland. Of course, after the data announcement, the trend of Swiss franc is still dominated by the euro.

USD/JPY
111.45/111.65 resistance
110.95/110.80 support
The market risk aversion sentiment cooled, funds flowed to stock market assets, the Nikkei index rose, and the bullish dollar rose against the yen. The expected target once again challenges the 111.45 resistance. If the US GDP is better than expected, the USDJPY has the opportunity to break the key resistance of 111.45 and 111.65.

AUDUSD
0.7350/0.7360 resistance
0.7320/0.7300 support
The dollar fell yesterday and the Australian dollar hit a high of 0.7360. With the US economic data and changes in the Fed’s board of directors, the dollar rebounded. If the US second-quarter GDP revision announced tonight exceeds market expectations, AUDUSD has the opportunity to test 0.7320 or 0.7300.

NZDUSD
0.6715/0.6725 resistance
0.6690/0.6675 support
The market is watching the US release of the second quarter GDP revision tonight, and the short-term New Zealand dollar has adjustment opportunities. If the result is in line with expectations or above, it will be more bullish dollars, and the negative dollar.

USD/CAD
1.2915/1.2895 support
1.2965/1.2985 resistance
The United States and Canada reopened the North American trade negotiations, and the news was for the Canadian dollar. Canada's second quarter current account results tonight may affect the Canadian dollar. In addition, if there is no further increase in oil prices, or a correction, there is a chance to bear the Canadian dollar.

EURGBP
0.9095/0.9120 resistance
0.9075/0.9055 support
The Brexit deal is unclear, and the Bank of England governor said he did not intend to stay and crack down on the pound. The euro is still stronger than the pound, and the euro is rising against the pound. Continue to touch another resistance. However, in the past two years, the euro has rebounded after hitting 0.91 against the pound, so technically, we must pay attention to the possibility of reversal.

EURCHF
1.1430/1.1445 resistance
1.1370/1.1355 support
Earlier revealed that there is a downside risk in the trend of the euro against the Swiss franc, which deserves attention. As the Swiss franc rose more than the euro, the euro fell against the Swiss franc. It is worth paying attention to the Swiss Investment Confidence Index and the Economic Status Index. As a result, there is an opportunity to influence the trend of the Swiss franc, which will affect the trend of the EURCHF.

XAUUSD
1206/1208 resistance
1202/1200 support
Last night, the US consumer confidence index rose. The new Fed governor generally believed that he supported the hawkish position, the dollar rebounded, and the price of gold fell. In addition, the market is watching the results of the US second quarter GDP revision data tonight. If yesterday is expected to have more than $1211 in resistance, carefully adjust the downside risk. After the gold price adjustment, it is concerned about continuity. If the US economic data shows market expectations, it will be negative for gold.

US crude oil futures:
68.85/69.05 resistance
67.95/67.60 support
The trade war has cooled down and there is an opportunity to increase demand. The Fed chairman’s remarks stimulated the rebound in oil prices, but the news has faded. Therefore, the oil price has adjusted. The current target is below $67. Just a short-term target support at 67.95 and 67.60.

BTCUSD:
7075/7200 resistance
6920 / 6770 support
The Fed chairman’s remarks stimulated the rebound in crypto currencies. The bitcoin keeps reach higher resistance. However, the US GDP maybe reach growth and the interest rate trends to increase. It could be affected the demand of crypto currencies. 7075 and 7200 these two resistance, which is very important. If not breakthrough, the bitcoin will fall and other crypto currencies could be followed.

Enjoy and happy trade ! The content is for reference only. Please do ensure that you understand the risk. Wish Happy trading!

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.
wechat: ATFX_China

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

 

[Kelly Yeung]

The US second-quarter GDP revision figure was 4.2%, better than the previous figures released at the beginning of the month. The market expectation was 4.1%, and the US dollar was supporting before the announcement. Unfortunately, US home sales in July fell, only negative 0.7%. The existing home sales index also fell, negative for the dollar, and the European currency rose. In addition, the main reason for accelerating the rise of the European currency is that the British government has indicated that the UK and the EU have made new progress in Brexit. I believe that before the deadline of March next year, the agreement will be successfully removed. The news boosted the pound to reach a three-week high, see the 1.30 level.

Today the market is concerned about the German employment report for August and the UK consumer credit and M4 money supply in July. From the analysis of relevant data recently and recently, it is estimated that the above data is bullish. If the result is better than expected, it will help short-term bullish euros and pounds. The most important thing is to pay attention to the important data of the Eurozone and Germany in the evening and evening. Special attention is paid to the German consumer price index CPl in the evening, and the US July price index is more noteworthy. Earlier, the Fed chairman said that if inflation exceeds 2%, interest rate hikes will be considered. The data will show relevant information tonight, and pay attention to the changes in the dollar. If the US July price index and personal income and expenditure are important indicators tonight. The rise in US prices will help to increase the dollar, while strengthening the Fed’s interest rate hikes to further increase the dollar. Tips: Pay attention to the risk of trading at night.

Today's suggestion:

EURUSD
1.1715/1.1730 resistance
1.1655/1.1640 support
In the evening, Germany's August consumer price index CPl results, will reflect the situation of the euro zone August consumer price index CPl. If the price of the euro zone rises, it will help the euro. Another important news in the evening was the US July price index and personal income and expenditure. If US prices rise, it will help to positive the dollar, while strengthening the Fed’s interest rate hike.

GBPUSD
1.3075/1.3090 resistance
1.2975/1.2960 support
In the next two days, the UK announced a number of important economic data, the market is concerned. In the short term, the results of the German consumer price index CPl in the evening will reflect the status of the consumer price index CPl in the euro zone in the evening. If the price of the euro zone rises, it will indirectly help positive the pounds. Another important news in the evening was the US July price index and personal income and expenditure. If US prices rise, it will help to increase the dollar, while strengthening the Fed’s interest rate hike.

USDCHF
0.9700/0.9685 support
0.9745/0.9760 resistance
The trend of the euro generally develops with the Swiss franc. There is currently no Swiss economic data, the Eurozone and US economic data will guide the development of the Swiss Franc. The US July price index and personal income and expenditure are important indicators tonight. If the US price rises, it will help to bullish the US dollar, and at the same time strengthen the Fed’s interest rate hike, it may be negative for the Swiss franc.

USDJPY
111.80/112.00 resistance
111.35/111.20 support
Japan's July retail sales growth, coupled with US GDP better than expected, capital flows to stock market assets, the Nikkei index rose, keeping the dollar rising against the yen. After breaking through the expected target of 111.45, the next step will be to look at 112 resistance. The US July price index and personal income and expenditure are important indicators tonight. If the US price rises, it will help to increase the US dollar, and at the same time strengthen the Fed’s interest rate hike, it may be negative for the yen.

AUDUSD
0.7305/0.7315 resistance
0.7270/0.7255 support
The US second-quarter GDP revision exceeded market expectations. Under the bullish dollar, the Australian dollar fell. New Zealand's economic data was weak this morning, which was indirectly negative for the Australian dollar. The US July price index and personal income and expenditure are important indicators tonight. If US prices rise, it will help to increase the US dollar, while strengthening the Fed’s interest rate hike, it may be negative for the Australian dollar.

NZDUSD
0.6675/0.6690 resistance
0.6640/0.6625 support
The US second-quarter GDP revision exceeded market expectations. Under the bullish dollar, the New Zealand dollar fell. New Zealand's economic data was weak this morning, which was indirectly negative for the Australian dollar. The US July price index and personal income and expenditure are important indicators tonight. If the US price rises, it will help to increase the US dollar, and at the same time strengthen the Fed’s interest rate hike, it may be negative for the New Zealand dollar.

USD/CAD
1.2915/1.2895 support
1.2965/1.2985 resistance
The North American trade negotiations reopen, and the news is bullish CAD. If Canada's GDP in June falls as expected, it is likely to be negative for the Canadian dollar. However, oil price performance will bring about changes in the Canadian dollar. In addition, the US July price index and personal income and expenditure are important indicators tonight. If US prices rise, it will help bullish dollars, and at the same time strengthen the Fed’s interest rate hike, it may be negative for the Canadian dollar.

EUR/GBP
0.9005/0.9030 resistance
0.8960/0.8940 support
Last night, the Brexit treatment plan was progressing, and bullish British pound. Changing the recent euro trend, the pound strengthened. Technically, EUR/GBP hit a 0.91, the trend was successfully reversed, if the trend further extended and could be test 0.8900 important support.

EURCHF
1.1380/1.1395 resistance
1.1330/1.1315 support
Earlier said that the euro against the Swiss franc trend may be reversed, it is recommended to pay attention. As the Swiss franc rose more than the euro, the bearish euro against the Swiss franc. Technically, the euro is expected to extend its downward trend against the Swiss franc.

XAUUSD
1207/1210 resistance
1202/1200 support
US second-quarter GDP revision data rose, but unfortunately existing home sales disappointed the market, the dollar fell, and gold rebounded. The US July price index and personal income and expenditure are important indicators tonight. If US prices rise, it will help more dollars, while strengthening the Fed’s interest rate hike, it may be negative for gold.

US crude oil futures:
69.65/69.95 resistance
67.95/67.60 support
US ElA crude oil inventories fell sharply, stimulating the rebound in oil prices to over $69. Technically, there is a negative point in the price of oil above $69. If the oil price is adjusted, the target price below the oil price is $67 or less. Only short-term target support is supported at 67.95 and 67.60. The US July price index and personal income and expenditure are important indicators tonight. If US prices rise and strengthen the Fed’s interest rate hike, it may be negative for oil prices.

BTCUSD:
7075/7200 resistance
6920 / 6770 support
The Fed chairman’s remarks stimulated the rebound in crypto currencies. The bitcoin keeps reach higher resistance. However, the US GDP record high and the interest rate trends to increase. It could be affected the demand of crypto currencies. 7075 and 7200 as two important resistance, which is very important. If not breakthrough, the bitcoin will turn downward and other crypto currencies could be followed. Tonight, the US price index and personal income and expenditure are important indicators. If US prices rise and strengthen the Fed’s interest rate hike, it may be negative for bitcoin.

Enjoy and happy trade ! The content is for reference only. Please do ensure that you understand the risk. Wish Happy trading!

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.
wechat: ATFX_China

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

 

[Kelly Yeung]

Today, the US Labor Day holiday, the US stock market is closed for one day. US markets, foreign exchange, metals and energy transactions closed ahead of schedule. Please attention!
International rating agencies said last week that they intend to lower the Italian sovereign rating, and the current Italian sovereign rating is above the junk level. If it is downgraded, increasing the risk of Italian bonds, the interest rate needs to be raised, affecting Italy's debt issuance and repayment of debt costs. In theory, the negative development of the Italian state indirectly affects the euro and the euro. At the same time, other European currencies.
Looking back on last Wednesday, the US second-quarter GDP revision is the best value. The market expects US employment data to improve this week compared to last month. It is expected to have an opportunity to grow, and it is expected that the Fed will raise interest rates by 0.25% on September 27. Overall economic performance, bullish dollar. However, the interest rate hike is negative for the stock market and global stock markets, and the stock market adjustment will continue. But the US stock market is closed tonight, and there is no US economic data. Therefore, it is estimated that it is difficult to reflect today.
In the afternoon, Bank of Japan Governor Haruhiko Kuroda hosted the event and gave a speech. The market is concerned about the speech of the Bank of Japan Governor and will release the position of Japan's monetary policy. In addition, in the afternoon, Germany, the United Kingdom and the euro zone respectively announced the August manufacturing purchasing managers index PMl, the recommendations are worthy of reference. If it wins expectations, it is expected to boost the euro. The Reserve Bank of Australia’s interest rate decision tomorrow, the market generally believes that interest rates remain unchanged. The main focus is on the Reserve Bank of Australia's monetary policy statement, which is particularly important for future economic assessments and expected future monetary policy.
Today's suggestion:
EURUSD
1.1610/1.1628 resistance
1.1565/1.1550 support
The US economy grew in the second quarter, and the euro zone remained in place. The Italian economy is slowing, and the market is worried that Italy is dragging down economic growth in the euro zone. All of the above are still negative for the euro. This week's US job data is expected to dominate the dollar. If the US job data is stronger than market expected, it will be bearish the euro.
GBPUSD
1.2945/1.2960 resistance
1.2875/1.2860 support
The UK is expected to arrange a new agreement with the EU to avoid "hard Brexit" without agreement. But unfortunately there are other news that the UK is negotiating with the EU to maintain the protection of the UK economy. The news made the market believe that the negotiations between the UK and the EU are still in place, even failing, and the price is good.
USDCHF
0.9690/0.9675 support
0.9735/0.9750 resistance
The trend of the euro generally develops with the Swiss franc. At present, the US economy has grown in the second quarter, and the Eurozone is still in place. The Italian economy is slowing, and the market is worried that Italy is dragging down economic growth in the euro zone. All of the above are still negative for the euro indirect negative Swiss franc. This week's US job data is expected to dominate the dollar. If the US job data is stronger than market expected, the dollar will rise against the Swiss franc.
USD/JPY
110.85/110.70 support
111.30/111.45 resistance
The short-term global stock market performance has repeatedly triggered the same trend of the US dollar against the yen. However, the medium and long-term line mainly depends on the performance of the US dollar. This week, we can use the US job data to predict the trend of the dollar. If the US job data is strong, it is bad for the yen.
Australian dollar against the dollar
0.7185/0.7205 resistance
0.7150/0.7135 support
If the United States finally implements a new policy to combat the Chinese economy and simultaneously crack down on Australian exports, it will continue to bearish the Australian dollar. So the Australian dollar is still on the downside. But you must pay attention to any good news and change the downward trend of the Australian dollar.
NZDUSD
0.6605/0.6620 resistance
0.6575/0.6555 support
If the United States finally implements a new policy to combat the Chinese economy and simultaneously crack down on New Zealand exports, it will be bad for the New Zealand dollar. Therefore, the Australian dollar is still in the downward trend recently, and the New Zealand dollar remains in a downward trend. But we must pay attention to any good news and change the downward trend of the Australian dollar and the New Zealand dollar.
USD/CAD
1.2975/1.2955 support
1.3025/1.3045 resistance
Earlier, the United States agreed that Canada would reopen North American trade negotiations, with a bullish Canadian dollar. But in the end, the Canadian government did not accept the negotiation plan, which disappointed the market and was bad for the Canadian dollar. It is expected that there will not improve the relationship. The Canadian dollar is still bearish.
EUR/GBP
0.8975/0.8990 resistance
0.8940/0.8920 support
The Brexit treatment programme has not seen any progress, and the less negotiation time, the bad news for pounds. Note that the direction of the EURGBP has changed. After a chance to break through 0.8990, the trend has further up.
EURCHF
1.1270/1.1300 resistance
1.1230/1.1215 support
With the release of the consumer price index CPl in Switzerland tomorrow, Italy's bad news affects the euro. It is expected that the trend of the EURCHF, it will be change and let EURCHF rebound from the lower. But whether the trend has changed is still being observed.
XAUUSD
1202/1204 resistance
1196/1194 support
US second-quarter GDP revision data is rising, and US inflation is expected to increase, curbing gold's rise. This week's US economic data, especially job data, is expected to positive US dollars, while strengthening the Fed's interest rate hike, will have the opportunity to further negative gold.
US crude oil futures:
69.80/70.05 resistance
68.95/68.60 support
Sino-US trade wars may increase further, or may affect crude oil demand. However, with the end of the third quarter economic quarter, the increase in demand for crude oil begins in the fourth quarter of each year and is expected to support oil prices. If the short-term crude oil price is adjusted, the underlying support will exist. It is expected that crude oil prices will rise in the fourth quarter. Challenge $75 to $80. However, on the eve of the Fed’s interest rate decision, it could be negative for oil demand and the price. Technically, you can still pay attention to the adjustment of oil prices.
BTCUSD:
7475/7740 resistance
7020 / 6870 support
The Fed chairman’s remarks stimulated the rebound in crypto currencies. The bitcoin keeps reach higher resistance. However, the US GDP record high and the interest rate trends to increase. Coming Wednesday and Friday, US job data as very important. If finally the job data growth strengthen, It could be affected the demand of crypto currencies. The bitcoin started to downward and other crypto currencies could be followed.
Enjoy and happy trade ! The content is for reference only. Please do ensure that you understand the risk. Wish Happy trading!

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

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

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

 

[Kelly Yeung]

ATFX proudly announced its sponsorship of the Duke of Edinburgh cup earlier this month, in line with the company’s commitment to the future leaders within its communities.


The Duke of Edinburgh Cup was established to support the Duke of Edinburgh International Award and young people all around the world. Founded by HRH Prince Philip, the Duke of Edinburgh in 2001, it is an annual worldwide series of golf tournaments run by the International Golf for Youth (IGFY), culminating in a World Finals Event held each year in the United Kingdom. The tournament is used as a vehicle to raise money for charities supporting children and young people in need, improving their lives.

The DoE Cup qualifying competitions were held onAugust 30 in countries selected by the organising committee, with the World Final being held in the UK. Mr. Ryan Tsui, CEO of ATFX (UAE), lead a team from ATFX to be at the event. ATFX has qualified forthe World Final in the UK and is optimistic its highly skilled golf players can match ATFX’s professional service in delivering great results. The world final will be held in Buckinghamshire Golf Club from 30th September to 4th October, and a Black Tie dinner and award ceremony will be held in the Windsor Castle.

Mr. Ryan Tsui, CEO of ATFX (UAE) and the leader of the ATFX Golf team stated that“We have identified that golf and trading have many similarities as both take place in challenging and constantly changing environments. Management of your emotions, a positive temperament and the ability to make clear and strategic decisions separate the best golfers and traders from the pack. We hope that our unique promotion strategies will impart fresh knowledge in a novel and relevant manner to our clients.”


ATFX’s sponsorship of The Duke of Edinburgh Cup is representative of the company’s values, and it is headquartered in London with offices around the world. Furthermore, it also sponsored some of the iconic London Black Taxi’s last year in what was a very successful campaign. This time, it is ATFX’s honor to be able to sponsor the DoE Cup and maintain a high level of service, in true British style.


Helping those in need is addressed by charity events the likes of which are held by The DoE Cup, enabling them to help talented young people and give them access to resources that would normally be out of their reach. ATFX has always felt a responsibility towards society and strives to give back to the communities they operate in. In the past year, the financial company has helped people both young and old in various counties, as well as the environment. ATFX hopes to partner with such charities, letting its clients know that it isn’t just a broker that sells FX and CFD products, but also to inspire a culture of caring for each other, and challenging ourselves each and every day.

Legal: ATFX is a co-brand shared by a number of different entities globally including the FCA-regulated AT Global Markets (UK) Limited in the United Kingdom, ATFX Global Markets (CY) Limited in Cyprus, AT Capital Markets Limited in the United Arab Emirates, and AT Global Markets Limited registered in Financial Services Authority (FSA) in Saint Vincent and the Grenadines.

 

[Kelly Yeung]

Following the successful launch of its Vietnamese website, ATFX has launched a new Korean language website for the convenience of Korean traders. The company’s website is now available in fourteen different languages.

The financial brokerage said that the launch of a dedicated website that delivers product information and content of specific relevance to its fast-growing Korean clients’ base was necessary to meet the needs of local traders. ATFX’s Korean clients may now access the advanced features and informative sections of the intuitive website in their native language, including but not limited to:

· Trading instruments: Investors get access to dozens of CFD financial instruments including Forex, precious metals, oil, and indices. All the instruments can be executed on one platform, and include:

• Forex majors like EUR/USD, USD/JPY, GBP/USD, as well as more than 30 currency pairs
• Precious metals’ gold and silver
• Crude products such as WTI
• Eleven of the most popular global stock indices

· Account types: A variety of live trading accounts, each designed to suit your investment needs

· Advanced trading tools and promotions

· Easy and fast deposit/withdrawal options

ATFX has been committed to serving the needs of Southeast Asian traders and through the launch of its Southeast Asian local language offering, it is further solidifying its position to becoming the leading online global trading company in the market.

ATFX aims to provide the best-in-class products and services for traders in Southeast Asia. From its user-friendly online trading platform to its multilingual customer support offered by skilled and experienced professionals. We take pride in providing a safe and easy trading environment, along with prompt help in the language that local traders are most comfortable in.

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.

 

[Kelly Yeung]

Today the US market is back to normal after the holiday yesterday. The basic factors, it means fundamental will continue to dominate. In Europe, the international rating agency said last week that it intends to lower Italy's sovereign rating. The market is worried that emerging markets will be treated the same, and many emerging market countries have fallen. Fortunately, there is no panic, but it is necessary to guard against the spread of risks and indirectly affect the risk of falling all European currencies.

In addition, the market is concerned whether the Fed can raise interest rates by 0.25% in September as estimated by the market. From last week, the US second-quarter GDP revision value was better than the initial value, reaching 4.2% growth. The market estimates that on Thursday night, the US ADP non-farm employment increased in August, but the market forecast is still conservative, estimated to be lower than last month. As long as the results are better than expected, even higher than the previous value, the market will calculate Friday night, the US Department of Labor announced the overall non-farm payrolls in August, the unemployment rate and the average wage improvement, will help to expect inflation to heat up, and look forward to September The Fed raised interest rates by 0.25%, with a bullish dollar.

At noon today, the Australian Federal Reserve Bank held interest rates, and the market expects interest rates to remain unchanged. But the statement in the meeting is more important. European economic data in the afternoon and the performance of the US economic data. If the European data does not improve, and the US economy is outstanding, the strength of the US dollar will continue.

Today's suggestion:

EURUSD
1.1615/1.1625 resistance
1.1560/1.1550 support
The market believes that the US economy grew in the second quarter and beat the euro zone. Italy's tax cuts and increased state spending have led to rating agencies' negative ratings for Italy. The market is worried about dragging down the euro rating, bad sentiment and affecting the euro. Regardless of whether the future Italian plan can successfully stimulate the economy, the most important thing is that this week's US employment data is expected to dominate the dollar. If the market still expects strong US employment data, it will be negative for the euro in the short term.

GBPUSD
1.2875/1.2900 resistance
1.2825/1.2800 support
Earlier, UK government arrange a new agreement with the EU to avoid "hard Brexit" without agreement. But unfortunately, it is said that the negotiations between the UK and the EU are still in place or even fail. Negative emotions are once again negative for the pound. If there is no any good news to boost the pound, it could estimated 1.2800 is a next temporary support, and the opportunity to break down.

USDCHF
0.9690/0.9680 support
0.9735/0.9750 resistance
The trend of the euro generally develops with the Swiss franc. The market turned from the US economy growth performance in the second quarter, and the funds turned to the US dollar. Under the current bearish euro and the Swiss franc. This week's US job data is expected to support the dollar. If the US job data is strong, it is expected that the dollar will rise against the Swiss franc.

USD/JPY
110.90/110.75 support
111.30/111.45 resistance
The short-term global stock market performance has repeatedly triggered the same trend of the US dollar against the yen. However, the medium and long-term line mainly depends on the performance of the US dollar. This week, the market estimates that US job data is expected to improve, leading the dollar's strength. If the US job data is strong, it will continue to be negative for the yen.

AUDUSD
0.7225/0.7240 resistance
0.7170/0.7155 support
The dollar is strong, curbing the Australian dollar. The Sino-US trade war has affected China's economic prospects and affected Sino-Australian trade, which is bad for the Australian dollar. At noon, the Reserve Bank of Australia has a interest rate decision. The most important thing is the meeting statement and the update monetary policy direction.

NZDUSD
0.6605/0.6620 resistance
0.6575/0.6555 support
New Zealand's recent economic data is weak, affecting the performance of the New Zealand dollar. Sino-US trade and emerging market crises are likely to worsen, while the Fed’s interest rate hikes are increasing, and the New Zealand dollar is negative. In addition, if the United States finally implements a new policy to combat the Chinese economy and simultaneously crack down on New Zealand exports, it will be bad for the New Zealand dollar. In addition, the Australian dollar trend often affects the New Zealand dollar. The Reserve Bank of Australia announces the interest rates decision at noon today. The market waits for the monetary policy direction.

USD/CAD
1.3075/1.3060 support
1.3155/1.3175 resistance
Earlier, the United States agreed that Canada would reopen North American trade negotiations, with a bullish Canadian dollar. But in the end, the Canadian government did not accept the negotiation plan, which disappointed the market and was bad for the Canadian dollar. The basic factors in Canada are negative, even the oil price trend may not driven the Canadian dollar.

EUR/GBP
0.9010/0.8990 support
0.9055/0.9075 resistance
Yesterday, this analysis suggested that due to the lack of any progress in the Brexit treatment plan, the less negotiation time, the bad news for pound. EURGBP break through 0.8990, the trend will rise further. After the euro breaks the suggested resistance, next targets are 0.9055 and 0.9075 respectively.

EURCHF
1.1270/1.1300 resistance
1.1240/1.1230 support
With the release of the Swiss consumer price index CPl today, it is expected that the trend of the euro against the Swiss franc will change. It is possible that the EURCHF rebounded from the low against , if the Swiss data is better than expected.

XAUUSD
1202/1204 resistance
1196/1194 support
Yesterday as the US holiday, the gold market was closed ahead of schedule, and the price of gold was narrow range. Today's trading is back to normal, and the volatility has a chance to widen. As US second-quarter GDP revision data rises, US inflation is expected to increase, and fundamental factors will negatively harm the gold. This week's US economic data, especially job data, is expected to be bearish the gold price.

US crude oil futures:
69.65/69.20 support
70.40/70.85 resistance
Sino-US trade wars may increase further, or may affect crude oil demand. However, with the end of the third quarter economic quarter, the increase in demand for crude oil begins in the fourth quarter of each year and is expected to support oil prices. If the short-term crude oil price is adjusted, I believe the price below will still be supported. Crude oil prices are expected to rise in the fourth quarter, challenging $75 to $80. The number of APl and ElA crude oil inventories on Thursday can be used as an indicator. If the inventories is greatly reduced, it will support the oil price rise.

BTCUSD:
7475/7740 resistance
7020 / 6870 support
The Fed chairman’s remarks stimulated the rebound in crypto currencies. The bitcoin keeps reach higher resistance. However, the US GDP record high and the interest rate trends to increase. Coming Thursday and Friday, two US job data report as very important which included ADP private sector job number and US labour department non farm payroll job report. If finally these job data growth strengthen, It could be affected the demand of crypto currencies. The bitcoin started to downward and other crypto currencies could be followed.

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