Kelly Yeung
ATFX.com Representative
- Messages
- 835
Personal insight today:
The UK August retail sales quarterly adjustment better than market expectations. After the consumer price index and the retail price index rose sharply in August, The pound has risen for two consecutive days. After the pound broke through the 1.32 resistance, the dollar weakened again and challenged the key resistance of 1.33. The dollar weakened and fell, separating the two main reasons. The first ECB official said that the central bank will further consider stopping the long-term bond purchase plan, tightening the euro monetary policy, the euro will break away from the zero interest period, step into the interest rate hikes, and positive the euros. In addition, the market expects Sino-US trade friction to continue to entangle in the short-term, short-term US suspension for emerging market countries, emerging market currencies have rebounded, indirectly causing the euro to rebound. The rise in the euro means that the dollar has fallen. The dollar fell, commodity prices rose, and commodity currencies were equally good. Australia , New Zealand and the Canadian dollar continued to record an increase.
In addition, the number of initial jobless claims in the US fell slightly last night, but other economic indicators disappointed the market. Tonight, the US announced the manufacturing and service purchasing managers' index, or once again disappointed the market, affecting the performance of the dollar. Another focus tonight, Canada's August CPI and retail sales data. The market expects a digital increase, which may help the Canadian dollar exchange rate rise. Note that next week, the Fed will raise interest rates. Under the expectation of raising interest rates, the US dollar may be supported, and the US dollar still has a chance to rebound.
Today's suggestion:
EURUSD
1.1790/1.1815 resistance
1.1755/1.1740 support
The UK's important accounting data rose sharply in August, and emerging market currencies rebounded, boosting the euro. Two major factors occurred on the same day, and the euro rebounded by nearly a hundred points. The most important thing is mentioned above. After the European Central Bank ends its bond-buying program, it plans to tighten monetary policy and attract funds to abandon US Treasury bonds into European long-term government bonds and bills, so that the euro will appreciate. The euro is 1.18, and there may be resistance in the short term. But we must pay attention to whether the performance of the US economic data is progressing, otherwise the funds will still flow to the euro, pushing up EURUSD again. It is recommended to pay attention to the trading risks by change the trend.
GBPUSD
1.3285/1.3305 resistance
1.3225/1.3190 support
Yesterday, important data from the UK, which made the pound rise again. In addition, the rebound of emerging market currencies has contributed to the overall rise of European currencies, and short-term upswings are expected to continue. However, the EU-British talks with Brexit are still full of obstacles, and the unfavorable news has made the pound plunge at any time. It is recommended to pay attention to the trading risks by change the trend.
USDCHF
0.9620/0.9640 resistance
0.9570/0.9555 support
The rebound in emerging market currencies has caused the European currency to rebound as well. The Euro currency euro performance is expected to continue to lead the Swiss franc. If the US economic data improves or the emerging market currencies fall, the dollar may have an upward trend against the Swiss franc. It is recommended to pay attention to the trading risks by change the trend.
USD/JPY
112.75/112.90 resistance
112.25/112.05 support
The US Dow climbed, the Nikkei index broke through the resistance, and the USD/JPY also broke the 112.45 resistance. In July, the US dollar against the yen was at a high of 113.15. If the US Dow and the Nikkei index reversed in reverse, it is expected that the USD/JPY will have a downward trend, and 113.15 may not appear. It is recommended to pay attention to the trading risks by change the trend.
AUDUSD
0.7300/0.7320 resistance
0.7245/0.7220 support
Global risk sentiment eased, emerging market currencies rebounded, and funds flowed out of US debt, causing the dollar to fall and the Australian dollar to rise. The short-term trend may continue, but it is necessary to pay attention to the performance of the US economic data and the Fed's interest rate next week, which will reverse the performance of the Australian dollar at any time. It is recommended to pay attention to the trading risks by change the trend.
NZDUSD
0.6700/0.6720 resistance
0.6650/0.6635 support
New Zealand's second-quarter GDP growth was better than expected, boosting the New Zealand dollar. Coupled with the easing of global risk sentiment and the rebound of emerging market currencies, the dollar has fallen, indirectly causing the New Zealand dollar to rise. The short-term trend may continue, but it is necessary to pay attention to the performance of the US economic data and the Fed's interest rate next week, which will reverse the performance of the New Zealand dollar at any time. It is recommended to pay attention to the trading risks by change the trend.
USD/CAD
1.2880/1.2865 support
1.2930/1.2945 resistance
Negotiations between the United States and Canada on the North American trade agreement continue, and it is expected that the agreement will be completed this week, the rising in oil prices that was one of the reasons for the positive Canadian dollar. However, the current trade negotiations between Canada and the United States in North America are still full of variables. If the negotiations encounter obstacles, they will short-term negative Canadian dollars.
EUR/GBP
0.8870/0.8860 support
0.8895/0.8905 resistance
The overall EURGBP is still holding 0.8870 important support, and the UK's important data has been improved recently, boosting the pound. In addition, the Brexit negotiations were unclear, 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 Brexit negotiations were unclear and ended up with a bearish EURCHF. At present, the EURCHF that crosses rate currency pair‘s trend, the most important is the prospect of Brexit negotiations.
XAUUSD
1211/1213 resistance
1204/1202 support
Emerging market currencies rebounded, funds flowed out of US debt, and the dollar fell, causing gold to rebound. But pay attention to the fundamental factors, before the Fed raises interest rates, investors hold gold interest rates up and 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 sell high, buy low. But also recommended to pay attention to the trading risks by change the trend.
US crude oil futures:
69.75/69.50 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. In addition, as the demand for crude oil increases at the end of each year, it is expected that the oil price will be upward. The US president urged the OPEC to reduce the oil prices. Under the earlier production reduction agreement, it is believed that it is impossible to increase production and cut the oil prices. But also recommended to pay attention to the trading risks by change the trend.
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.q
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.
The UK August retail sales quarterly adjustment better than market expectations. After the consumer price index and the retail price index rose sharply in August, The pound has risen for two consecutive days. After the pound broke through the 1.32 resistance, the dollar weakened again and challenged the key resistance of 1.33. The dollar weakened and fell, separating the two main reasons. The first ECB official said that the central bank will further consider stopping the long-term bond purchase plan, tightening the euro monetary policy, the euro will break away from the zero interest period, step into the interest rate hikes, and positive the euros. In addition, the market expects Sino-US trade friction to continue to entangle in the short-term, short-term US suspension for emerging market countries, emerging market currencies have rebounded, indirectly causing the euro to rebound. The rise in the euro means that the dollar has fallen. The dollar fell, commodity prices rose, and commodity currencies were equally good. Australia , New Zealand and the Canadian dollar continued to record an increase.
In addition, the number of initial jobless claims in the US fell slightly last night, but other economic indicators disappointed the market. Tonight, the US announced the manufacturing and service purchasing managers' index, or once again disappointed the market, affecting the performance of the dollar. Another focus tonight, Canada's August CPI and retail sales data. The market expects a digital increase, which may help the Canadian dollar exchange rate rise. Note that next week, the Fed will raise interest rates. Under the expectation of raising interest rates, the US dollar may be supported, and the US dollar still has a chance to rebound.
Today's suggestion:
EURUSD
1.1790/1.1815 resistance
1.1755/1.1740 support
The UK's important accounting data rose sharply in August, and emerging market currencies rebounded, boosting the euro. Two major factors occurred on the same day, and the euro rebounded by nearly a hundred points. The most important thing is mentioned above. After the European Central Bank ends its bond-buying program, it plans to tighten monetary policy and attract funds to abandon US Treasury bonds into European long-term government bonds and bills, so that the euro will appreciate. The euro is 1.18, and there may be resistance in the short term. But we must pay attention to whether the performance of the US economic data is progressing, otherwise the funds will still flow to the euro, pushing up EURUSD again. It is recommended to pay attention to the trading risks by change the trend.
GBPUSD
1.3285/1.3305 resistance
1.3225/1.3190 support
Yesterday, important data from the UK, which made the pound rise again. In addition, the rebound of emerging market currencies has contributed to the overall rise of European currencies, and short-term upswings are expected to continue. However, the EU-British talks with Brexit are still full of obstacles, and the unfavorable news has made the pound plunge at any time. It is recommended to pay attention to the trading risks by change the trend.
USDCHF
0.9620/0.9640 resistance
0.9570/0.9555 support
The rebound in emerging market currencies has caused the European currency to rebound as well. The Euro currency euro performance is expected to continue to lead the Swiss franc. If the US economic data improves or the emerging market currencies fall, the dollar may have an upward trend against the Swiss franc. It is recommended to pay attention to the trading risks by change the trend.
USD/JPY
112.75/112.90 resistance
112.25/112.05 support
The US Dow climbed, the Nikkei index broke through the resistance, and the USD/JPY also broke the 112.45 resistance. In July, the US dollar against the yen was at a high of 113.15. If the US Dow and the Nikkei index reversed in reverse, it is expected that the USD/JPY will have a downward trend, and 113.15 may not appear. It is recommended to pay attention to the trading risks by change the trend.
AUDUSD
0.7300/0.7320 resistance
0.7245/0.7220 support
Global risk sentiment eased, emerging market currencies rebounded, and funds flowed out of US debt, causing the dollar to fall and the Australian dollar to rise. The short-term trend may continue, but it is necessary to pay attention to the performance of the US economic data and the Fed's interest rate next week, which will reverse the performance of the Australian dollar at any time. It is recommended to pay attention to the trading risks by change the trend.
NZDUSD
0.6700/0.6720 resistance
0.6650/0.6635 support
New Zealand's second-quarter GDP growth was better than expected, boosting the New Zealand dollar. Coupled with the easing of global risk sentiment and the rebound of emerging market currencies, the dollar has fallen, indirectly causing the New Zealand dollar to rise. The short-term trend may continue, but it is necessary to pay attention to the performance of the US economic data and the Fed's interest rate next week, which will reverse the performance of the New Zealand dollar at any time. It is recommended to pay attention to the trading risks by change the trend.
USD/CAD
1.2880/1.2865 support
1.2930/1.2945 resistance
Negotiations between the United States and Canada on the North American trade agreement continue, and it is expected that the agreement will be completed this week, the rising in oil prices that was one of the reasons for the positive Canadian dollar. However, the current trade negotiations between Canada and the United States in North America are still full of variables. If the negotiations encounter obstacles, they will short-term negative Canadian dollars.
EUR/GBP
0.8870/0.8860 support
0.8895/0.8905 resistance
The overall EURGBP is still holding 0.8870 important support, and the UK's important data has been improved recently, boosting the pound. In addition, the Brexit negotiations were unclear, 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 Brexit negotiations were unclear and ended up with a bearish EURCHF. At present, the EURCHF that crosses rate currency pair‘s trend, the most important is the prospect of Brexit negotiations.
XAUUSD
1211/1213 resistance
1204/1202 support
Emerging market currencies rebounded, funds flowed out of US debt, and the dollar fell, causing gold to rebound. But pay attention to the fundamental factors, before the Fed raises interest rates, investors hold gold interest rates up and 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 sell high, buy low. But also recommended to pay attention to the trading risks by change the trend.
US crude oil futures:
69.75/69.50 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. In addition, as the demand for crude oil increases at the end of each year, it is expected that the oil price will be upward. The US president urged the OPEC to reduce the oil prices. Under the earlier production reduction agreement, it is believed that it is impossible to increase production and cut the oil prices. But also recommended to pay attention to the trading risks by change the trend.
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.q
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.