ATFX Press Releases - 2018

[Kelly Yeung]

The Argentine economy has experienced a recession, the currency has fallen, and the emerging market crisis has once again been heard. Emerging market bonds have generally fallen, and capital flows to dollar assets to hedge, indirectly affecting the decline of European currencies. Last night, EURUSD saw a low of 1.1530, a pound of 1.2810, and USDCHF hatted 0.9765 high. Then, the British Parliament discussed the Brexit negotiations and made good comments. Euro and other European currencies rebounded. However, the next negotiation deadline between the United Kingdom and the European Union is November this year. There are still variables in the final agreement on whether the two sides can negotiate successfully. The market estimates that the euro zone and the UK will consider tightening monetary policy - raising interest rates in the middle of next year. European currencies are generally under pressure if they continue to lose in emerging market currencies.

In the short-term, this afternoon will refer to the Eurozone and UK Service Industry Purchasing Managers Index, but the most concerned is the monthly rate and annual value of the July retail sales data in the Eurozone. If the final result is better than expected, it is expected to stabilize the euro. In the evening, Canada and the United States announced the July trade account, and the two markets were more concerned about the US July trade account. Then at 22:00 pm, the Bank of Canada's interest rate decision. The market generally believes that interest rates remain unchanged but post-conference remarks are more concerned.

Today's suggestion:

EURUSD
1.1610/1.1625 resistance
1.1550/1.1540 support
The market believes that the US economy grew in the second quarter and beat the euro zone. In the afternoon, the euro zone announced the purchasing manager index and retail sales, the latter market is more important. The outstanding performance of retail sales has helped stimulate the euro zone economy. In any case, the emerging market currency and bond crisis and this week's US job data are expected to favour the US dollar, and the short-term is still a bearish euro. If the euro rebounds, it still needs to pay attention to downside risks.

GBPUSD
1.2875/1.2900 resistance
1.2835/1.2810 support
Earlier, British government was expected to arrange a new agreement with the EU to avoid "hard Brexit". But unfortunately there was other news that the UK and the EU negotiations are still in place, and the market outlook is still not optimistic. In the afternoon, the UK released the Purchasing Managers Index, but the data is only a reference value. In any case, the emerging market currency and bond crisis worries and this week's US employment data are expected to benefit the US dollar, and the short-term is still a bearish euro. If the pound rebounds, it still downside risks. Technically 1.2800 is a temporary reference support.

USDCHF
0.9720/0.9600 support
0.9775/0.9790 resistance
The Swiss franc is generally passive, and the euro's movement directly affects the Swiss franc. Emerging market anxiety is currently estimated, which is negative for European currencies. The market estimates that the US job market is improving, supporting interest rate hikes, and funds are turning to the US dollar. The euro fell, indirectly negative for the Swiss franc. On the contrary, the Swiss franc rose.

USD/JPY
111.30/111.15 support
111.70/111.85 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 the US job data is expected to improve, driving the dollar strong. However, the Nikkei index fell, which is a bearish dollar against the yen signal. Technically, there is no breakthrough in the resistance of 111.85 and 112.0, and the USD/JPY trend may be reversed to downward.

AUDUSD
0.7215/0.7225 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 bearish the Australian dollar. Yesterday, the Reserve Bank of Australia’s interest rate and after-meeting statement did not bring any surprises. The trend still in downtrend.

NZDUSD
0.6565/0.6580 resistance
0.6525/0.6505 support
The dollar is strong, bearish the New Zealand dollar. The Sino-US trade war not only affects China's economic prospects, but also affects Sino-Australia and Sino-New Zealand trade. Coupled with the Reserve Bank of Australia's interest rate and post-meeting statement yesterday, there was no surprise, and the monetary policy orientation was a pigeon. It is widely believed that the New Zealand Central Bank will follow after. Downtrend could be continued.

USD/CAD
1.3175/1.3215 resistance
1.3105/1.3080 support
The North American trade negotiations, the market worried about the economic prospects of Canada, bearish the Canadian dollar. Tonight , the Canada’s trade account and the central bank’s interest rate decision. If the two important data bring out any good news, it is expected to change the Canadian dollar's trend. If crude oil inventories continue to decrease, stimulating oil prices will also benefit the Canadian dollar.

EUR/GBP
0.9010/0.8990 support
0.9035/0.9055 resistance
The Brexit deal has not seen any significant progress, and the less negotiation time, the negative effects for the pound. After the euro broke the 0.8990 against the pound, the trend further rose. The technical trend is still rising. But the euro zone and the UK's economic performance and emerging market conditions, in case the trend reverses.

EURCHF
1.1300/1.1315 resistance
1.1265/1.1250 support
The Swiss consumer price index CPl was announced, and it is expected that the euro will have a chance to change against the Swiss franc. In the end, the euro rebounded from the low against the Swiss franc. The short-term euro against the Swiss franc has a chance to rise further, looking the resistance as target.

XAUUSD
1198/1200 resistance
1192/1190 support
After the US resumed normal trading yesterday, the gold trade returned to normal and the volatility widened. As US second-quarter GDP revision data rises, US inflation is expected to increase, and fundamental factors will curb gold. This week's US economic data, especially job data, is expected to be bullish dollar and bearish gold.

US crude oil futures:
69.15/68.90 support
70.40/70.85 resistance
The amount of APl and ElA crude oil inventories tomorrow morning and evening can be used as the third quarter crude oil demand indicator. If the inventory is greatly reduced, it will help the oil price rebound.

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.
Contact: 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 announces the appointment of Ahmed Fouad as Regional Head of Business Development for the Middle Eastfor the Middle East. He has more than a decade’s worth of experience in the financial markets.


Mr. Fouad worked for large-scale forex trading companies in Dubai includingGKFX, a prominent financial services companies as Head of Derivatives,and Mubasher Trade as an Active Sales Trader and Account Manager. He is experienced in building and maintaining relationships with financial institutions, as well as hiring, training, mentoring and managing sales teams.Having graduated from Edinburgh Business School with an MSC in financial management, and combined with certifications in FRM, CRM, and derivatives from Heriot-Watt University, Mr. Fouad’s joining the company represents without a doubt a serious additional asset to the firm for its Middle East and Africa operations.Mr. Fouad stated that “This position is fully in line with my experience and qualifications, and I intend to channel that alongside my consistency and dedication towards building a brighter future for ATFX.”


ATFX believes that Mr. Fouad’s insights into the needs of local traders and his experience with managing clients would be crucial to tailoring the company’s services in the Middle East and hence expand the company’s influence in the region.He is deeply grateful for the invaluable support from Mr. Ryan Tsui, CEO of ATFX, UAE. “His tireless efforts have certainly aided me in getting acquainted, and the reflection of those efforts will be visible when applying my vast knowledge.” He also added that “given ATFX’s culture, I’m confident we’ll be able to deliver the best and safest client services, and fully in line with the regulator’s requirements.”


ATFX received its license to offer trading services in the Middle East from the Abu Dhabi Global Market (ADGM) earlier in April and is now regulated by the FSRA (Financial Services Regulatory Authority).


Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA)

Financial Services Permission Number: 170006

 

[Kelly Yeung]

The United Kingdom and Germany have good news from Brexit. The British side has produced good news, but Germany’s response is not the case. The depreciation of emerging market currencies has slowly spread, and emerging markets have fallen to a one-year low in multinational currencies. The news has spurred emerging market crises. Emerging market currencies have depreciated and bonds have generally fallen. But in fact, in 2008 and 2011, when the US and European debt crises were respectively, the US dollar and the European currency depreciated, interest rates fell, and market capital flowed to high-interest emerging market currencies. At present, the performance of the US dollar has strengthened, interest rates have risen, and emerging market currencies and funds have reversed, and they have turned to the US dollar, forming a downturn in emerging market currencies. As long as the emerging market bonds are still stable, The chances of a European currencies and emerging market currencies crash are not big deal.

In the short-term, the number of ADP private positions in the US tonight, and non-farm payroll is one of the focus of the market this week. The number of private positions in ADP will help predict the number of non-farm payroll tomorrow night. At the same time, the increase or decrease in positions will help predict inflation and consumption prospects. If the data grows, the dollar is bullish. In addition, the US industrial orders in July tonight are worthy of attention and hinder the dollar. In addition, a new step of trade war between China and the United States is at any time, and the market tension in the Asia-Pacific region may hit the Asia-Pacific stock market and the Asia-Pacific region. When the renminbi is most directly affected, the market waits and sees.

Today's suggestion:

EURUSD
1.1665/1.1680 resistance
1.1620/1.1595 support
The United Kingdom and the EU's Brexit negotiations have not reached a consensus, and the European currency has followed. Short-term positive news factors stimulated the euro to rise. However, things have not been implemented, there are variables in the Brexit negotiations, and the euro is under pressure. And the most important thing today is the US employment data, ADP announced. If the data is better than expected, the dollar will reappear strongly and the euro will be negative.

GBPUSD
1.2935/1.2950 resistance
1.2885/1.2870 support
The United Kingdom and the EU's Brexit negotiations have not reached a consensus, and the European currency has followed. Short-term positive news factors have stimulated the pound to rise, and last night saw a high of 1.2980. However, things have not been implemented, there are variables in the Brexit negotiations, and the pound is under pressure. And the most important thing today is the US employment data, ADP announced. If the data is better than expected, the dollar will reappear strongly.

USDCHF
0.9680/0.9660 support
0.9735/0.9750 resistance
The market estimates that the US job market is improving, supporting interest rate hikes, and funds are turning to the US dollar. The euro fell, indirectly negative for the Swiss franc. Keep in mind that the trend of Europe and the United States dollar comes to leads the Swiss franc.

USD/JPY
111.20/111.05 support
111.55/111.70 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 the US employment data is expected to improve, driving the dollar strong. A new step of trade war between China and the United States may occur this week, and the Nikkei index has fallen, which is a bearish dollar-yen signal. Technically, there is no breakthrough in the resistance of 111.80 and 112.00, and the USD/JPY trend has a chance to go down.

AUDUSD
0.7215/0.7230 resistance
0.7170/0.7155 support
The Sino-US trade war not only affects China's economic prospects, but also affects China-Australia trade prospects, and sentiment leads to negative Australian dollar. Earlier, the Reserve Bank of Australia’s interest rate meeting and the post-meeting statement stated that the monetary policy orientation made the Australian dollar weak. If the situation has not improved, AUDUSD suppose downward.

NZDUSD
0.6620/0.6640 resistance
0.6565/0.6550 support
The dollar is strong and contains the New Zealand dollar. In addition, the Sino-US trade war not only affects China's economic prospects, but also affects New Zealand's export trade, and sentiment leads to a negative New Zealand dollar. A few days ago, the Reserve Bank of Australia raised interest rates and after the meeting stated that the monetary policy orientation will affect New Zealand monetary policy and the New Zealand dollar. At present, the US dollar and the Sino-US trade war are in a negative trend. If it is not improved, New Zealand suppose downward.

USD/CAD
1.3175/1.3215 resistance
1.3105/1.3080 support
North American trade talks restarted, Canada's trade accounts and inflation are improving, Canada's economic prospects are expected to improve, the central bank expects to gradually raise interest rates, and policies such as the Federal Reserve Board and the Canadian dollar are supported. The market is watching the US release ADP data tonight. Technically, the USDCAD are expected to turn down, and it is recommended to pay attention.

EUR/GBP
0.9040/0.9055 resistance
0.8990/0.8970 support
The Brexit deal has not seen any significant progress, and the less negotiation time, the bearish pounds. But pay attention to the euro zone and the UK's economic performance and emerging market conditions, in case the trend reverses.

EURCHF
1.1300/1.1315 resistance
1.1265/1.1250 support
It is expected that the trend of the EURCHF will change. The euro has turned downwards against the Swiss franc. The short-term EURCHF has a chance to rise further, but must focus on the possibility of reversal.

XAUUSD
1201/1204 resistance
1194/1191 support
The market is waiting the US ADP and tomorrow's US non-farm payroll, taking the opportunity to adjust the price of gold, which is expected to be an important resistance. If the overall job market improves, the downside of gold will increase, and the target support will refer to 1191 and 1188 USD.

US crude oil futures:
68.15/67.70 support
70.00/70.35 resistance
The APl crude oil inventories drop but lower than market expectations, and oil prices were downward. There will be another ElA crude oil inventory data tonight. In addition, this week's important job data also affects crude oil demand expectations. The increase job data will help the oil price rise.

BTCUSD:
6575/6800 resistance
6220 / 6050 support
Couple days before mentioned, 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. Today and Friday, two US job data report as very important which included ADP private sector job number and US non farm payroll job report. These job data seems growth strengthen, affected the demand of crypto currencies. The bitcoin started to downward and other crypto currencies could be followed. It the job data is not strong, it could be help the bitcoin rebound.

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]

After the August ADP data last night, it should pay attention to the non-farm payrolls and average hourly wages in August tonight. At present, the number of non-farm payroll and unemployment rate in August is not the focus of the market. The average hourly wage in August is the most important. If the result is better than expected, the dollar will reappear strongly and will be negative for the euro.

Today's suggestion:

EURUSD
1.1650/1.1670 resistance
1.1615/1.1595 support
There is no consensus between the UK and the EU on the Brexit negotiations, and the European currency has repeated. Short-term employment data in the US is not as good as expected, stimulating the euro to rise. After the August ADP data in the United States, the number of non-farm payroll and average wage hourly wages were immediately followed. Today, the number of non-farm payroll and unemployment rate is not the focus of the market. The average hourly wage in August is the most important. If the result is better than expected, the dollar will reappear strongly and will be negative for the euro.

GBPUSD
1.2935/1.2950 resistance
1.2885/1.2870 support
The UK and the EU's Brexit negotiations have formed a close trend in the euro and the pound, which has led to the reversal of the overall European currency. Short-term positive news factors have stimulated the pound to rise, and recently seen 1.2980. However, there are currently no conditions for the implementation of the Brexit negotiations. There are many negative variables in the matter, which puts the pound in the US. Tonight, the market focus is on the average salary in August in the United States. If the result is better than expected, the dollar will reappear strongly and will be negative for the euro.

USDCHF
0.9680/0.9660 support
0.9735/0.9750 resistance
The trend in EURUSD directly affects the USDCHF. The current market is worried about emerging markets, and the European currency is bearish. The Swiss franc may be downward. In addition, the market expects the US job market to improve and will support the Fed to raise interest rates. In any case, if the euro falls, negative the Swiss franc indirectly. US job data and US dollar performance tonight will affect the Swiss franc trend. Please pay attention.

USD/JPY
110.20/110.05 support
111.05/111.20 resistance
The US Dow fell, European stock markets also fell, and the Nikkei was difficult to avoid falling risks. The dollar fell against the yen. In addition, the market estimates that this weekend, the US president will announce a new round of China's import tariff policy to deepen the trade conflict. The stock market in the Asia-Pacific region, the Nikkei index can not be avoided, is also a bearish dollar against the yen signal. As early as possible, there is no breakthrough in the technical resistance of 111.80 and 112.00, and the USD/JPY trend has a chance to go down. At present, pay attention to 110.20 as the first support, if you keep the 110.0 important support , next first the target as 111.20.

AUDUSD
0.7215/0.7230 resistance
0.7170/0.7155 support
The Sino-US trade war has also affected China-Australia trade and global trade, and negative sentiment has led to a bearish Australian dollar. In addition, the Reserve Bank of Australia’s interest rate meeting and the post-meeting statement earlier stated that the monetary policy orientation was negative for the Australian dollar. If the Sino-US trade war is intensified again on weekends, it will also be negative for AUDUSD.

NZDUSD
0.6600/0.6620 resistance
0.6565/0.6550 support
The Sino-US trade war also affected New Zealand’s trade, and the negative sentiment led to the same decline in the negative New Zealand dollar. In addition, the future of the New Zealand Federal Reserve Bank's monetary policy orientation is negative for the New Zealand dollar. If the Sino-US trade war is intensified again on weekends, it will also be negative for New York.

USD/CAD
1.3165/1.3185 resistance
1.3105/1.3080 support
North American trade negotiations have restarted, and current progress has improved or eased the prospects for Canada. And the Bank of Canada said it is gradually raising interest rates, the policy is like the Federal Reserve, bullish Canadian dollar. In addition, the US ADP data and other US economic data performance, not expected, the US dollar adjustment, technically, the USDCAD are expected to decline, it is recommended to continue to pay attention to the downward trend.

EUR/GBP
0.9040/0.9055 resistance
0.8990/0.8970 support
The Brexit negotiation has not seen any significant progress, and solved in short time, which is negative for pounds. The EURGBP 0.8990 and 0.8970 as short-term support, if the GBPUSD fell more than EURUSD, the EURGBP could be further up.

EURUSD
1.1260/1.1280 resistance
1.1185/1.1150 support
From the past to the present, the euro has gradually turned downward against the Swiss franc. The short-term euro against the Swiss franc has not rebounded, and continues to develop along the moving average line, which is expected to continue. But technically, we must also pay attention to the possibility of reversal, to do risk management as well.

XAUUSD
1204/1207 resistance
1194/1191 support
The US non-farm payrolls data tonight will have an organic volatility in gold prices. Gold prices, mainly 1204 and 1207 are reference for resistance. If the overall US job market and wages improve significantly, gold will have the opportunity to increase the downside risk to the target support level with reference to 1191 and 1188 US dollars. Otherwise, if the employed population and wages are flat or lower, the chances of rising gold prices will be higher.

US crude oil futures:
66.65/66.00 support
68.35/68.855 resistance
The US important job market report was unveiled tonight, and data performance affected crude oil demand expectations. If the number of employed people increases, and then with the increase in wages, it will help the oil price rise. On the contrary, oil prices may fall further.

BTCUSD:
6400 / 6250 support
6575/6800 resistance
The US job data report as very important which included ADP private sector job number and US non farm payroll job report. These job data seems growth strengthen, affected the demand of crypto currencies. However, the ADP private sector job data was under expectations. It means if the non farm payroll and wages are flat or lower, the chances of rising bitcoin prices will be higher.

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]

Before the US announced the API and ElA crude oil inventory report, the market once worried that the global trade war caused the crude oil consumption to fall, the inventory volume rose, and the oil price was under pressure yesterday. However, due to the US sanctions against Iran to restrict crude oil exports and the impact of the US storm, crude oil supply was tight and oil prices rebounded, once approaching $70. In the morning, the US API stocks were significantly reduced, which is good for oil prices. Benefiting from the rebound in oil prices, the US wholesale sales win value and Apple Computer is about to release new products, the US Dow rebounded. But before the US Dow rebounded last night, it had fallen and saw a low in the month. The price of gold rose, with a high of $1,199 and silver with $14. As the US Dow rebounded, gold adjusted to fall and silver's rally stopped.

This afternoon, Spain, Italy and the euro zone respectively released data. It is worth paying attention to Spain's August consumer price index CPl and the euro zone's industrial production in July. In the evening, the US production price index PPl in August, the market also expects a bullish dollar. If the result is better than expected, it is expected that the European currency will have a good chance to be short on gold and silver. The most important thing is that after the start of the US market, at 12am and 2am at Beijing time, there are respectively Fed governors' speeches and the Fed's Beige Book on Economic Status. If the Fed governor and the Fed report positively and consolidate the US monetary policy tightening expectations, it is expected to benefit more dollars. Whether the Dow's trend can break through the resistance in the past two weeks, it depends on whether there will be surprises for Apple's new products tonight, which will drive the performance of the Asian stock market tomorrow.

Today's suggestion:

EURUSD
1.1615/1.1630 resistance
1.1565/1.1550 support
The EU and the Brexit negotiations have gradually dawned. The British government said that the latest agreement on Brexit is being actively prepared. It will be completed in about six to eight weeks in the next two months, which will ease the tension between the EU and the UK and help Europe and the United States. Only the EU central bank will raise interest rates tomorrow night, expect interest rates to remain unchanged, and the US economic data is good, to contain EURUSD. Currently technically 1.1630 and 1.1655 are important resistance references. Coupled with the ECB's interest rate decision, the trend in EURUSD still has the opportunity to test the low position.

GBPUSD
1.3040/1.3055 resistance
1.2975/1.2955 support
The UK and the EU Brexit negotiations are expected to achieve a win-win result, and the pound will once again challenge the high position. However, as analyzed in the past two days, it is estimated that under the negotiations between the United Kingdom and the European Union, the volatility of the pound is still repeated. It can be oscillated in the range of 1.28-1.31, although the main lows of the pound are supported. However, the UK job data was not as expected, and finally the pound was high and yesterday was expected to reverse after the high of 1.3080, then GBPUSD fell back to the initial target of 1.2975 and 1.2955 support. Expected short-term trend, the pound high is still downward. In addition, the Fed's Beige Book may affect the trend of the US dollar, which deserves attention.

USDCHF
0.9730/0.9720 support
0.9760/0.9775 resistance
The Fed’s interest rate hike is expected to be clearer, the dollar rebounds, and the overall negative Swiss franc. Fortunately, the news of the Brexit negotiations in the UK was positive, and EURUSD rebounded, once saw a low support of 0.9720. Before the European Central Bank's interest rate is expected, the USDCHF trend may still be able to explore the resistance target. In addition, the Fed's Beige Book may affect the trend of the US dollar, which deserves attention.

USD/JPY
111.65/111.75 resistance
111.10/110.95 support
The US dollar index rebounded, the Nikkei index rose, and the dollar followed the yen, seeing 111.63. It is currently estimated that the Bank of Japan policy has not affected the yen's trend, and the Fed's monetary policy will drive the dollar to rise against the yen. But the short-term fluctuations are mainly due to changes in the stock market. In addition, the Fed's Beige Book may affect the trend of the US dollar, which deserves attention.

AUDUSD
0.7110/0.7125 resistance
0.7080/0.7065 support
In the past two months, the Sino-US trade war has affected the export trade between China and Australia, and the most important is to crack down on Australian minerals and resources. In addition, the Reserve Bank of Australia's monetary policy remains relaxed, and there is no intention to tighten. The investment intention of AUDUSD is declining. On the other hand, the US employment data growth is strong, looking forward to the Fed's Beige Book brings good information, positive for the US dollar, bearish AUDUSD.

NZDUSD
0.6535/0.6545 resistance
0.6505/0.6490 support
The Australian dollar fell, negative for the New Zealand dollar. In addition, the New Zealand Federal Reserve Bank's monetary policy orientation is consistent with the Bank of Australia, maintaining a loose monetary policy orientation and a negative for the New Zealand dollar. It is currently estimated that New Zealand will follow the pace of AUDUSD. In addition, the announcement of the Fed's Beige Book is likely to affect the movement of the US dollar, which deserves attention.

USD/CAD
1.3095/1.3125 resistance
1.3045/1.3020 support
The United States and Canada have made slight progress in the North American trade agreement, which is good for the Canadian dollar. In addition, the crude oil price rebounded significantly, and eventually the Canadian dollar rebounded, changing the recent upward trend of the USDCAD. In addition, the Fed's Beige Book may affect the trend of the US dollar, which deserves attention.

EUR/GBP
0.8915/0.8935 resistance
0.8890/0.8870 support
The Brexit in the UK and EU have seen progress, the pound has rebounded and the euro has continued to decline against the pound. However, tomorrow's European Central Bank meeting on interest rates, the market is expected to be negative in EURUSD, the euro may start to change its trend against the pound, waiting for a low rebound.

EURCHF
1.1315/1.1335 resistance
1.1280/1.1260 support
With the European Central Bank meeting interest rates tomorrow night, the market estimates that monetary policy will remain unchanged, and the euro will have a chance to bearish, EURCHF up.

XAUUSD
1197/1199 resistance
1191/1189 support
XAUUSD fluctuated sharply last night, once seeing $1,188 and then seeing $1,199. On the eve of the release of the Fed's Beige Book, the market worried about the Fed raising interest rates. However, with the fall of the US Dow, XAUUSD once soared. The fundamentals are still positive for the dollar, which represents a high price of gold, such as $1,200 before the important resistance, and XAUUSD is still bearish.

US crude oil futures:
70.35/70.75 resistance
68.65/68.00 support
As mentioned above, Iran is sanctioned by the United States and restricted by crude oil exports. The US storm has affected the tight supply of crude oil. The US API crude oil inventories have been significantly reduced and the US EIA stocks are expected to decrease, and the short-term positive oil prices. But pay attention to 71.20 US dollars and 72 US dollars for short-term important resistance. If there is no breakthrough, or chase high, in order to prevent the trade war from escalating, leading to a slowdown in crude oil demand, the price could be dropped.

BTCUSD:
6475/6600 resistance
6080 / 5950 support
The US job data seems growth strengthen, attracting US Fed fund rate go up, demand of crypto currencies drop . The Fed's Beige Book may affect the trend of the US dollar, which deserves attention before tomorrow morning at 2am. If it seems the US interest rate will be futures increase, the bitcoin and other crypto currencies demand could be dropped, the price and the value of all crypto currencies also could be dropped .

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]

Last night, the one of US Fed’s governor speech and the US Fed’s Beige Book on Economic Status to forecast US Fed’s monetary policy. First, the Fed governor said that although it continues to support the gradual rate hike, it is estimated that the current inflationary pressure in the United States is moderate, and the inflation rate and the current interest rate level have not matched the interest rate hike. In addition, the Fed’s Beige Book report showed that the economy that the United States production and wages are only modest growth, and worried about the negative economic impact of the trade war in near future. To put it simply, the current US monetary policy should not be excessive and too fast growth. These views are consistent with the assessment and outlook of the Fed Chairman before in the beginning of the month. The statement is expected to be negative for the US dollar, and is more likely to affect the Fed’s monetary policy decision before FOMC meeting in the end of the month. Then the US dollar has fallen against major currencies last night, and gold and silver rebounded from low levels. Also the US oil and UK oil prices fell from high levels. In addition, the United States offered to negotiate trade tariff policy negotiations with China, and released a plan of good faith negotiation to Canada. The short-term positive of the two currencies, the China renminbi and the Canadian dollar, also benefits it to the global stock market sharply rebound.

Tonight, the market focus on the Bank of England and the European Central Bank's interest rate decision, announced at 7 and 7:45 respectively. The market generally expects the central banks of the two countries to keep interest rates unchanged, but the statement after the meeting is the most important. If the central bank governor speaks, he tends to consider that the monetary policy will be tightened in the future, which means that the pace of interest rate hikes will accelerate, and the European currency will be more profitable. However, maintaining a loose monetary policy for a period of time is a negative for European currencies. At present, the economic pace and the trade war continue, It means the central bank takes any attitude in monetary policy that will change the EURUSD and GBPUSD direction.

Also the market focus on US important data tonight. August CPl and actual income is the key and change the USD. If the number of jobless claims increases more than expected, CPl and actual income will fall, which will be negative for the dollar. Please pay attention on above data tonight.

Today's suggestion:
EURUSD
1.1645/1.1660 resistance
1.1585/1.1570 support
The EU and UK Brexit negotiations have gradually dawned, easing the tension between the EU and the UK, and benefiting EURUSD. In addition, the Fed's economic report reflects that has no interest rate hike, bearish US dollar, EURUSD reached 1.1630 and testing 1.1655 important resistance. But tonight the European Central Bank has interest rates decision, and the interest rate is expected to remain unchanged. Negative for EURUSD. But after the European Central Bank’s interest rate decision and US data release tonight, the trend in EURUSD may turn stronger. Keep watching tonight and coming few days.
GBPUSD
1.3060/1.3085 resistance
1.3005/1.2980 support
The UK and the EU's Brexit negotiations are expected to achieve results, and the consensus will be reached in two weeks at the earliest. However, the Bank of England has a interest rate decision , and GBPUSD bearishness. Technically, the GBPUSD between 1.28-1.31 ranging, it has been oscillating for a long time, it has a chance to reverse, and it may be lower at 1.29 level has begun to rebound.
USDCHF
0.9715/0.9730 support
0.9660/0.9645 resistance
The Fed is expected to raise interest rates in the market, but the Fed’s governor and economic reports were not the case. The dollar has fallen and the Swiss franc has risen. The Fed's Beige Book may affect the movement of the US dollar for some time. The USDCHF may further low and reaching the recent low of 0.9645.
USD/JPY
111.45/111.65 resistance
111.10/110.95 support
A statement from the Fed's Beige Book affects the US dollar trend and the yen has supported. By technically, 111.65 is an important short-term resistance. If the stock market continues to rise sharply, the USD/JPY may be able to break through the resistance. Otherwise USDJPY may be returning to the 110 level.
AUDUSD
0.7170/0.7155 support
0.7230/0.7245 resistance
In the past two months, the Sino-US trade war has affected the performance of the Australian dollar, and the Fed’s interest rate hike is expected to be negative for the Australian dollar. However, as the analysis pointed out yesterday, the Fed’s Beige Book brought up any changes, and finally the bearish dollar information appeared. In addition, the United States took the initiative to negotiate trade agreements with the Chinese government, and AUDUSD rebounded sharply. If there is no negative news in the short term, the Australian dollar is expected to continue to rise. The short-term important resistance is 0.7245 and the upper resistance is 0.7280 for reference.
NZDUSD
0.6545/0.6530 support
0.6575/0.6590 resistance
As analyzed yesterday, the Fed’s Beige Book announcement may affect the trend of the US dollar. In addition, the United States took the initiative to discuss trade agreements with the Chinese government, improve Asia-Pacific trade relations, and boost the New Zealand dollar. The short-term New Zealand dollar trend continues to follow the pace of the Australian dollar.
USD/CAD
1.3015/1.3035 resistance
1.2975/1.2960 support
The United States and Canada are making good progress in the North American trade agreement, easing the prospects of the Canadian economy and benefiting the Canadian dollar. In addition, crude oil prices continue to be high, with a bullish Canadian dollar. In addition, the Fed's Beige Book affected and weakening of the US dollar, which is also the bullish Canadian dollar. Technically, short-term focus on 1.2975 and 1.2960 support.
EURGBP
0.8915/0.8905 support
0.8950/0.8960 resistance
The European Central Bank’s interest rate meeting is just around the corner, and the euro is rising against the pound and continues to rebound from the recent low. But tonight, the Bank of England is in front of the European Central Bank, and the current situation is the same. It is expected that the euro will rise and fall against the pound to see who has better monetary policy.
EURCHF
1.1315/1.1335 resistance
1.1280/1.1260 support
Tonight, the European Central Bank will raise interest rates. The market estimates that monetary policy will remain unchanged. If the euro is negative, there will be an opportunity to continue to bear the EURCHF.
XAUUSD
1207/1209 resistance
1201/1198 support
After the release of the Fed's Beige Book, the market worried that the Fed's rate hike may be suspended and gold soared. Tonight's US data is again concerned. If the jobless claims, CPl and actual income are good for the dollar, XAUUSD may test to lower. First target as $1201 and next is $1,198.
US crude oil futures:
70.65/71.05 resistance
69.45/69.00 support
Iran crude oil export restrictions, one seriously storming attack US eastern area, affecting the tight supply of crude oil. Recently, the US API and the US EIA crude oil inventories have been significantly reduced, and the short-term positive oil price. Trade wars have reduced oil demand and improved demand for crude oil. However, after the current adjustment to the level of 69 US dollars, there may be a rebound opportunity.
BTCUSD:
6475/6600 resistance
6080 / 5950 support
The US job data seems growth strengthen, but US Fed economy reported the market is not growing up so fast, interest rates maybe remain at this level. This expectation maybe change the demand of crypto currencies higher. Also this Fed's Beige Book may affect the trend of the US dollar, the bitcoin and other crypto currencies demand could be change, the price could be up .
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]

Mr. Ergin Erdemir, a market professional for over 7 years, who has held senior positions in prominent financial companies, is set to join ATFX’s (UK) senior management team as the Head of Marketing Management.

Mr. Ergin Erdemir will run the UK and Europe marketing side of the rapidly growing FCA regulated global Forex business. ATFX provide traders with the award-winning trading platform Metatrader 4 where they can trade across various instruments securely with competitive spreads and exceptional customer service.

Mr. Richard Craddock, CEO of ATFX (UK) states, “Having Ergin join us is a great coup for the London operation and another step forward for ATFX as we continue our European strategy. Ergin’s knowledge and guidance will be a great asset to the burgeoning sales team here.”

He is passionate about what ATFX is doing as an FCA regulated Forex brokerage, providing their customers a transparent and secure trading environment with flexible trading opportunities.

Ergin loves growing businesses, and has a track record of doing this successfully as a founder whilst managing marketing consulting projects in different sectors and more recently at FX Brokers and Technology companies.

At the moment Ergin oversees the UK and Europe marketing strategies at ATFX to roll out their service in the UK, Europe and other regions. He said “the best parts of my day are working with each of our team members to provide the best service for our customers”.

“88% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.”

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

 

[Kelly Yeung]

Last night's the market focus was on the Bank of England and the European Central Bank, and the market generally expected the central banks to keep interest rates unchanged, but the statement after the meeting was the most important. Finally, the ECB president’s remarks produced the greatest repercussions. The central bank plans to reduce the bond purchase plan and said that it will stop buying bonds next month. It will end the European Central Bank’s debt-buying stimulus plan for many years, and it is inclined to consider tightening the currency in the second half of the year. The policy has stimulated the rise of EURUSD, and supporting other European currencies have also risen. According to the European Central Bank's monetary policy strategy, long-term European currencies, especially EURUSD , will have a greater chance of strengthening.
In addition, the number of US unemployment benefit applicants recorded an improvement last night. In August, CPl fell slightly, but actual income rose. The above data can be calculated tonight, US August retail sales, industrial production, July commercial inventory and September University of Michigan consumer confidence index may be good, bullish dollars.

Today's suggestion:
EURUSD
1.1705/1.1730 resistance
1.1675/1.1655 support
After the European Central Bank’s interest rate decision last night, it mentioned the cancellation of the bond purchase plan and expects to tighten monetary policy in the second half of next year, stepping up the pace of interest rate hikes. EURUSD broke through the technical resistance of 1.1630 and 1.1655. It is also in line with yesterday's analysis and outlook. The European Central Bank has interest rates and expects interest rates to remain unchanged. It can believe that the interest rate will be curbed before the interest rate rises. After the European Central Bank’s interest rate and US data were released, the trend in Europe and the United States may turn stronger. If the EURUSD adjustments are made in the short term, 1.1655 and 1.1645 are important support and 1.1730 is an important short-term resistance.
GBPUSD
1.3130/1.3150 resistance
1.3065/1.3045 support
The good news of the UK's talks with the European Union, and the European Central Bank's monetary policy will be tightened. Although the Bank of England’s interest rate was raised last night, all central bank officials agreed to keep interest rates unchanged, but maintain a wait-and-see attitude in the second half of next year to support the pound’s 1.30 level. As expected in the near-term analysis, technically, the pound has been oscillating in the range of 1.28-1.31 for a long time. The outlook for the UK economy has improved, and the trend of the pound has a chance to reverse. It is expected to be good. If the future of the pound may fall below the 1.29 level, it is expected to regain support and move to a higher level in the future. Short-term attention to 1.3130 and 1.3150 resistance, and pay attention to adjust to 1.3065 and 1.3045 support.
USDCHF
0.9645/0.9620 support
0.9680/0.9700 resistance
The Fed's Beige Book has weakened the US dollar, and the European Central Bank's monetary policy orientation has tightened. EURUSD have risen, and the USDCHF has tried to approach the recent low of 0.9645. It is expected to continue testing 0.9645/0.9620 support, and the short-term trend may adjust the rebound.
USD/JPY
112.05/112.25 resistance
111.65/111.45 support
The United States and Canada's North American trade agreement, with China on tariffs and trade negotiations, improved the investment climate, global stock markets rose sharply, the dollar against the yen to rise, seen 112 levels. Now that US retail sales, industrial production and consumer confidence if all better than expected, and the stock market is rising, it is possible to further push up the USD/JPY. The important resistance will be referenced to 112.55 and 112.80. However, if the stock market dropped, the USD/JPY is expected to support 111.65 and 111.45. Technically, if the dollar breaks through 111.85 against the yen, the trend may weaken.
AUDUSD
0.7200/0.7225 resistance
0.7165/0.7145 support
Sino-US trade is again planning negotiations, Sino-US relations have improved, and AUDUSD have rebounded sharply. However, the important resistance of 0.7245 is still no breakthrough, and it is technically adjusted. Next week, the Reserve Bank of Australia announced the interest rate record. The market remains on the sidelines. It is expected that the short-term AUDUSD will fluctuate, waiting for the monetary policy orientation.
NZDUSD
0.6580/0.6590 resistance
0.6550/0.6530 support
Yesterday's analysis pointed out that the United States took the initiative to discuss trade agreements with the Chinese government, improve Asia-Pacific trade relations, and boost the New Zealand dollar. The short-term New Zealand dollar trend continues to follow the pace of the Australian dollar. Technically, NZDUSD resistance 0.6590, before the breakthrough or may adjust the test support first.
USD/CAD
1.3015/1.3030 resistance
1.2980/1.2960 support
The market is watching the US and Canada progress on the North American trade agreement, and the Canadian dollar fluctuates in a narrow range. In addition, the crude oil price trend stopped rising, affecting the performance of the Canadian dollar. Technically, short-term focus on 1.2975 and 1.2960 support.
EUR/GBP
0.8915/0.8905 support
0.8935/0.8950 resistance
The ECB's interest rate meeting and the Bank of England's interest rate in front of the European Central Bank, the same situation, the EUR/GBP in the volatility, waiting for a breakthrough.
EURCHF
1.1315/1.1335 resistance
1.1280/1.1260 support
The European Central Bank has interest rates, the market estimates that monetary policy remains unchanged, and the euro and Swiss francs are in line. The EURCHF is on the volatility, waiting for a breakthrough.
XAUUSD
1207/1209 resistance
1201/1198 support
After the release of the Fed's Beige Book, the market worried that the Fed's rate hike may be suspended. In addition, the European and British central banks kept interest rates unchanged, and European interest rates remained low, once again causing gold to soar. But don't forget that US data such as the jobless claims, CPl and real income are both positive for the US dollar, and also support the Fed to raise interest rates. Gold continues to be test lower. Temporary resistance reference 1207 and 1209, the next support target of $ 1,198 or below.
US crude oil futures:
68.45/68.00 support
69.65/69.95 resistance
Iran crude oil export restrictions, the United States is seriously storming, affecting the tight supply of crude oil. Earlier factors such as the US API and the US EIA crude oil inventories decreased significantly, and the oil price was positive in the short term. Trade wars have reduced oil demand and improved demand for crude oil. However, after the current adjustment to below US$69, oil prices are likely to rebound.
BTCUSD:
6475/6600 resistance
6340 / 6150 support
The US job data seems growth strengthen, but US Fed economy reported the market is not growing up so fast, interest rates maybe remain at this level. This expectation maybe change the demand of crypto currencies higher. Also this Fed's Beige Book may affect the trend of the US dollar, the bitcoin and other crypto currencies demand could be change, the price could be up .

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]

Last night, the US president Trump officially announced that it plans to implement the import of goods worth 200 billion U.S. dollars on the 24th of this month, next Monday, and impose a 10% additional tariff. The tariff will be raised to 25% by the end of the year. . Fortunately, the list of tariffed products added to the plan has excluded major consumer goods, electronic products and other goods that mainly affect domestic consumption and inflation, which has reduced the risk of economic recession in the United States. The impact on China's main production and export to US goods is also low, and China's economic risks are also lower than expected. After US President Trump announced the addition of a tariff plan, US government officials immediately pointed out that they would remain open to China and continue consultations, but there was no details of the consultation. China has not responded. It is believed that China will implement a $60 billion anti-tariff measures in response this week. At the same time, the United States has imposed a new round of tariff-adding measures. It is expected that trade negotiations between China and the United States may be difficult to start at the end of the month, and the global investment climate will continue to be severe. Personally believe that the global stock market continues to be under pressure, the strength of the US dollar will slow down, and the future will be negative for the US dollar.
In terms of data, the Eurozone announced the consumer price index CPl in August yesterday, which satisfied the market. At 15:00 this afternoon, ECB President Mario Draghi will speak at the event, and the market expects the president to disclose more euro monetary policy and boost the euro. Canadian economic data last night was not as expected, negative for the Canadian dollar. Tonight's Canadian data is expected to be worse than the previous one, which is expected to be further negative for the Canadian dollar.
Today's suggestion:
EURUSD
1.1695/1.1715 resistance
1.1645/1.1625 support
Yesterday, the Eurozone's CPl in August met market expectations, and finally the bullish euro was tested above the target high resistance, and the high was seen at 1.1697. At 15:00 this afternoon, ECB President Mario Draghi will speak at the event, and the market expects the president to disclose more euro monetary policy and boost the euro. However, this event has always been speeched and informally represents the central bank's monetary policy. It is expected that the euro will have a limited upward.
GBPUSD
1.3170/1.3190 resistance
1.3105/1.3090 support
Between the United Kingdom and the EU on Brexit are progressing well, and the positive news for pound. Yesterday, the Eurozone's CPl performed well in August, and the euro rose, pushing up the pound. However, if there is no other factor to stimulate today, it is expected that GBPUSD may adjust the reference support.
USDCHF
0.9650/0.9670 resistance
0.9615/0.9600 support
As expected yesterday, EURUSD rose, the dollar against the Swiss franc to test, 0.9645 near the recent low, continue to test 0.9615 support. Since there is no important data to support the strength of the European currency today, it is expected that the short-term USD/CHF trend may adjust to rebound and test resistance at 0.9650 or above.
USD/JPY
111.95/112.15 resistance
111.55/111.35 support
The Sino-US trade war has escalated, slamming investment sentiment, if global stock markets fall. The US Dow fell, and the homeopathic index fell, indicating that the dollar fell against the yen. For example, yesterday, the USDJPY has been tested to support 111.85 and 111.65 respectively, and finally see 111.65 for short-term support. But It is believe that the stock market has a chance to move further downwards, and the dollar may fall deeper against the yen.
AUDUSD
0.7175/0.7190 resistance
0.7135/0.7115 support
The Sino-US trade war has once again escalated, which is bad for the Australian dollar. Although the Reserve Bank of Australia announced the interest rate record today, indicating that Australia's economy is growing moderately and the job market is positive, global trade tensions pose real risks to the economic outlook, and the economic downside risks are expected to be negative in the Australian dollar as well.
NZDUSD
0.6580/0.6595 resistance
0.6550/0.6535 support
The short-term New Zealand dollar trend continues to follow the pace of the Australian dollar. In addition, Sino-US trade upgrades, and the New Zealand dollar. The Reserve Bank of Australia announced the interest rate record, the monetary policy orientation is still pigeons, and the negative New Zealand dollar, it is expected that NZDUSD will continue to adjust the test support.
USD/CAD
1.3070/1.3085 resistance
1.3020/1.3005 support
The United States and Canada have good progress in the North American trade agreement. Unfortunately, the Canadian data performance last night disappointed the market and the negative Canadian dollar. There are still Canadian economic data tonight, the market is expected to be weak, and the Canadian dollar is negative. If oil prices fall, it may be further negative for the Canadian dollar.
EUR/GBP
0.8875/0.8860 support
0.8905/0.8920 resistance
Yesterday's outlook, the EURGBP focused on 0.8870 important support, after hitting important support yesterday, EURGBP rebounded. The most important aspect of the trend is the development of the euro. If EURUSD fall, the euro will fall further against the pound.
EURCHF
1.1255/1.1270 resistance
1.1230/1.1210 support
The EURCHF tested 1.1230 support yesterday. Now 1.1210 as the important support by technically. However, if it falls below 1.1210, the trend may be further tested at 1.1185.
XAUUSD
1201/1204 resistance
1194/1191 support
The basic factors have the opportunity to further downward of the gold trend. It is expected that the gold at US1,200 or a bit higher will have resistance on the eve of the announcement of the Fed’s interest rate decision on the morning of September 27. Short-term volatility can refer to the resistance of 1204, down to 1191 or 1188 US dollars.
US crude oil futures:
68.45/68.00 support
69.25/69.55 resistance
Earlier restrictions on crude oil exports in Iran, affected the tight supply of crude oil. Now, the Sino-US trade war has increased the risk of slowing global trade, and even increased the demand for crude oil, which is negative for oil prices. On Wednesday, US API and US EIA crude oil inventory data can obtain evidence. Currently, the market and investors all waiting the inventory report of oil prices, which is expected to fluctuate within the expected target range in short term.
BTCUSD:
6605/6720 resistance
6150 /6060 support
The US Fed economy reported showed the economy growing up is not so fast, interest rates maybe remain at this level. This expectation maybe increased the demand of crypto currencies higher. Also last updated Fed's Beige Book shown the trend of US economy as not growing so fast, it could be supported the bitcoin and other crypto currencies demand. By technically, most of investors assumed the bitcoin support at US6000. It maybe good for reference.
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]

Yesterday, the Bank of Japan’s interest rate decision and policy statement remain unchanged , USDJPY also maintains in narrowing level. But USDJPY almost focus on the performance of global stock markets. Such the Dow continues to climb, reaches the previous high level of 26,650 points, and the stock market in Asia has followed the pace. However, the Nikkei index did not see a significant breakthrough the previous high of 24,177 points. The USD/JPY rally was curbed. Next Thursday, the Fed announced interest rate decisions, and the market generally expects the Fed to raise interest rates by 0.25%. It is expected to increase downward on global stock markets before raising interest rates. If the dollar rises, there is a chance to bearish European currencies, commodity currencies and commodity prices, but it is only a modest decline. It is recommended to avoid low-end pursuit of the US dollar in the short term.
In addition, yesterday the UK announced that the consumer price index and the retail price index rose sharply in August. It is expected that the UK will announce retail sales in August this afternoon, and there is a chance to improve it. It is expected to be more profitable. But technically, 1.32 or above maintains great resistance. In addition, there are negative factors in the Brexit negotiations between the UK and the EU, which may cause the pound to fall. Another focus of the market, the number of US initial jobless claims, the September Philadelphia Fed manufacturing index and August existing home sales data. If the data results in a positive for the dollar, the pound and other major currencies will have a chance to fall against the dollar. Gold and silver prices could be go down, but oil prices have a chance to rise.
Today's suggestion:
EURUSD
1.1700/1.1715 resistance
1.1655/1.1640 support
Yesterday, the UK's CPl and retail sales price index rose sharply in August, surpassing market expectations. The euro benefited from the rise of the pound. However, the resistance of EURUSD at 1.1715 cannot be broken, and the technical impact on the euro may fall or may develop another decline. In terms of fundamentals, it is estimated that the improvement in the performance of the US economic data, the obstacles between the EU and the UK, and the impact of the Fed’s interest rate hike next week are implying the possibility of a downward trend in the short-term development of EURUSD.
GBPUSD
1.3175/1.3195 resistance
1.3115/1.3090 support
The current view has not changed, paying attention to the high risk of catching the pound. If the Brexit negotiations uncertain, the pound will fall below the 1.31 level.
USDCHF
0.9690/0.9700 resistance
0.9650/0.9640 support
As expected yesterday, the short-term USD against the Swiss franc may adjust to rebound. The US dollar against the Swiss franc once challenged 0.9699, which is in line with the expected reference resistance limit of this analysis. The European currency is expected to be weak, and the US dollar has a chance to move up against the Swiss franc and may break through 0.9700.
USD/JPY
112.25/112.40 resistance
111.75/111.60 support
The US Dow closed higher before the market closed, and the Nikkei index fluctuated at a high level. The USD/JPY could not break the 112.45 resistance. If the US Dow and the Nikkei index reversed, it is expected that the USD/JPY will have a downward trend.
AUDUSD
0.7260/0.7275 resistance
0.7215/0.7200 support
The Sino-US trade war has not affected China's export of consumer goods and high-end technology industries for the time being. It represents that Australia's resource exports have not spread, which is good for Australia's economic development. The copper prices up, boosted the Australian dollar. But the performance of US economic data tonight may affect the Australian dollar. At the same time, keep in mind the Fed's interest rate next week. If the US dollar turns stronger, it will be negative for the Australian dollar.
NZDUSD
0.6580/0.6595 resistance
0.6550/0.6535 support
New Zealand's second-quarter GDP growth was better than expected, boosting the New Zealand dollar. But the performance of US economic data tonight may affect the New Zealand dollar. At the same time, keep in mind the Fed’s interest rate next week. If the dollar turns stronger, it will be negative for the New Zealand dollar.
USD/CAD
1.2910/1.2900 support
1.2970/1.3005 resistance
Negotiations between the United States and Canada on the North American trade agreement have broken down. It was once negative for the Canadian dollar, but the oil price rose and the Canadian dollar turned stronger. Canada and the United States North America trade negotiations have more negative factors, expected short-term negative Canadian dollar.
EUR/GBP
0.8870/0.8860 support
0.8895/0.8905 resistance
The overall euro against the pound defensive 0.8870 important support, yesterday, the UK's good data, boosting the pound, but the Brexit negotiations uncertainty, and finally the euro rebounded against the pound. The current trend of the euro against the pound, the most important is the prospect of Brexit negotiations.
EURCHF
1.1280/1.1260 support
1.1320/1.1335 resistance
The euro has swept down to 1.1220 against the Swiss franc, but the Brexit negotiations are unclear and bearish on the euro, eventually the euro has risen sharply against the Swiss franc. At present, the euro against the Swiss franc crosses the trend, the most important is the prospect of Brexit negotiations.
XAUUSD
1206/1208 resistance
1199/1197 support
The fundamental factors remain unchanged. The Federal Reserve will raise interest rates before the end of the month. Investors holding gold interest rates have the opportunity to make gold prices fall. It is expected that the medium-term trend will fluctuate on the eve of the announcement of the Fed's interest rate on the morning of September 27, and maintain high sell, low buy.
US crude oil futures:
69.45/69.00 support
71.55/71.95 resistance
US crude oil inventories increased, but Iran was sanctioned by the United States, restricting crude oil exports until the end of the year, the supply of crude oil was tight, and oil prices climbed. At the end of the year, demand for crude oil continued to increase, which is expected to increase oil prices.
BTCUSD:
6605/6720 resistance
6150 /6060 support
The US Fed economy reported showed the economy growing up is not so fast, interest rates maybe remain at this level. This expectation maybe increased the demand for cryptocurrencies higher. It could be supported the bitcoin and other cryptocurrencies demand. By technically, most of the investors assumed the bitcoin support at US6000. It may be good for reference.
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

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