Personal opinions today:

 

The Dow continued to rise, and the Japanese Nikkei index also rose yesterday. The Fed officials said that US interest rates may remain at current levels for longer periods of time. Moreover, the risk sentiment has warmed up. The gold has support and the price remained at a high level. Crude oil prices were supported by a decline in crude oil inventories, but still failed to break through the $53 resistance.

 

European Central Bank President Mario Draghi said that the euro zone faces Sino-US trade war and British Brexit uncertainty, the European economy may face challenges, and the economic recovery may be longer than expected, the European Central Bank could not raise interest rates in 2019, bearish in euro. Germany's 2018 GDP fell and CPl was flat. The market expects that the Eurozone will announce a slowdown in CPI today, which is also the reason for the negative euro.

 

Today's suggestion:

 

EURUSD 

1.1425/1.1440 resistance

1.1370/1.1355 support

In the afternoon, the euro zone announced inflation data, CPl. If the result is better than expected or flat, it will stabilize the euro and the euro will have a chance to hit 1.14. Technically, 1.1440 assuming that as an important resistance and 1.1355 support as important as well.

 

GBPUSD

1.2905/1.2925 resistance

1.2825/1.2800 support

Although the UK has been approved by the European Union, it can delay the Brexit time to next year, and it will be a bullish pound. However, the British Prime Minister is facing political risks and it is estimated that there is still downside risk in the pound. Technically, the pound is subject to the resistance range of 1.2905 to 1.2925. It is recommended to pay attention to adjusting the downside risk, with 1.2800 as the first important support.

 

USDCHF 

0.9845/0.9820 support

0.9905/0.9925 resistance

The euro fell and the Swiss franc also following. Technically, the US dollar against the Swiss franc broke the 0.9790 resistance level, extending beyond the 0.9850, may be to test the previous high of 0.9925. In the afternoon, the euro zone announced the inflation data CPl. If the data is not as good as the market expected, there is a chance of negative for the Swiss franc as well. Conversely, the data in line or higher than expectations, and the US dollar against the Swiss franc had a chance to fall back to 0.9850 support.

 

USD/JPY

109.15/109.30 resistance

108.40/108.25 support

USD/JPY was affected by the performance of global stock markets. Yesterday, the US Dow and the Nikkei index rose, driving the USDJPY to challenge 109.18. If the stock market performance continues to improve, the dollar against the yen will have a chance to break through the resistance of 109.30. But the US initial jobless claims may be negative for the dollar against the yen. In addition, Japan will announce core inflation CPl tomorrow morning. If the data falls, it may be negative for the yen, causing the dollar to rise against the yen.

 

AUDUSD 

0.7185/0.7205 resistance

0.7125/0.7100 support

Sino-US trade negotiations, the two sides expressed some uncertainties, the Australian dollar affected. In addition, the euro fell, causing the dollar to rise, and the Australian dollar is further under downward pressure. Technically, if the Australian dollar stays above 0.7145, the Australian dollar can still perform well, but if it falls below 0.7145, it must pay attention to further adjust the risk to 0.7100 important support.

 

NZDUSD 

0.6785/0.6810 resistance

0.6730/0.6705 support

The dollar rose as the euro fell. The trend of the New Zealand dollar against the US dollar also followed the decline of the Australian dollar against the US dollar. A few days ago, here we expected that the New Zealand dollar has the opportunity to adjust. It is recommended to continue to pay attention to the US dollar and Australian dollar trend reference without the current New Zealand data reference.

 

USD/CAD

1.3235/1.3215 support

1.3285/1.3305 resistance

Crude oil prices have recently risen between $50 and $52, and the Canadian dollar has not changed much. But Canada will release inflation data tomorrow night, and the Canadian dollar performance may follow the data outlook. Now may refer to 1.3235 support and 1.3285 resistance, waiting for a breakthrough.

 

EUR/GBP

0.8880/0.8900 resistance

0.8830/0.8810 support

Eurozone data and monetary policy, the euro fell against the pound against the euro. In the European trading hours in the afternoon, pay attention to the performance of the Eurozone inflation data CPl, and suggest that you pay more attention to trading risks.

 

EURCHF 

1.1295/1.1305 resistance

1.1260/1.1250 support

The European Central Bank’s comments have caused confidence in the euro’s investment to fall. In the afternoon, the euro zone announced inflation data CPl. If the performance is weak, the euro may fall and the euro may fall against the Swiss franc. Technically, focus on short-term support at 1.1260 and 1.1250.

 

XAUUSD 

1297/1299 resistance

1289/1287 support

The Brexit agreement was rejected. Although the Brexit time was extended by the EU, the incident remains unresolved, increasing market risk and supporting the price of gold. Coupled with the slowdown in US economic data, the Fed hinted that the pace of interest rate hikes will also support gold. Technically, gold prices still have the opportunity to test $1,300, but the US announced the number of weekly jobless claims tonight. If the data is in line with or better than expected, gold has a chance to adjust the decline. Short-term 1287 is an important support reference.

 

US crude oil futures:

52.15/52.40 resistance

51.10/50.70 support

US crude oil inventories continued to decline, but the decline was less than expected, limited the rise in crude oil prices. Yesterday, US crude oil prices only rose to the expected resistance of $52.40. In addition, the European economy lacks momentum, and the Sino-US trade war remains unclear. It is expected that crude oil prices will continue to be blocked before $53 and have the opportunity to test $50.70.

 

US Dow Jones Industrial Index Futures US30

24135/24280 resistance

23760/23640 support

The Fed is likely to suspend interest rate hikes, which is good for the investment climate. At present, the US corporate's performance announcement period, the market concerned the performance of the US business environment, bringing stock market volatility at any time, suggesting that investment must pay attention to risk tolerance.

 

BTCUSD:

3450 / 3360  support

3950 / 4050 resistance 

The Fed is likely to suspend interest rate hikes, which is good for the investment climate in crypto currencies. Because it seems USD weakness. However the market transfer funds to stock markets and the dollar going strong since the euro fell, which is negative for crypto market. Technically, the bitcoin price maybe testing 3450 support.

 

Enjoy trading!  

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

 

Information provided by AT Global Market, 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

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