Personal opinions today:

Market worries continued to heat up. The US Dow fell on the second day and closed lower. The Dow fell for two trading days and fell by more than 1,300 points. The investment market is tense, paying attention to the upcoming US presidential midterm elections in November. The market is worried about political changes, stock market capital outflows, safe-haven funds are transferred to the bond market, and US bond yields are rising. Coupled with the US consumer price index fell in August compared to August, the US economic confidence weakened, the stock market and the dollar fell simultaneously. The slowdown in US inflation has affected the dollar's decline. The major currencies have generally risen against the dollar, which has further spurred the surge in gold. The economy slowed down, oil prices were downward, and oil prices once fell below $71.

Australia, August home loan license fell more than market expectations, but the dollar fell, temporarily supporting the Australian dollar. In the afternoon, Germany announced the industrial output and CPl of the Eurozone. The German CPl was more watched by the market. If the monthly rate and annual rate are better than last month, it will help the euro. Conversely, if the performance of the data falls, it will be negative for the euro and may affect the performance of other European currencies.

In the evening, the United States announced the Import and Export Price Index and the University of Michigan Consumer Confidence Index. Due to market concerns, data performance has the opportunity to affect the performance of the US Dow and the Nasdaq, while affecting the dollar's movement, which deserves attention.

Today's suggestion:

EURUSD

1.1615/1.1640 resistance

1.1575/1.1555 support

US inflation data has slowed down, with the dollar falling last night and the euro rebounding. The market is concerned about the release of German CPI data for September in the afternoon. If the data is better than expected, it will be bullish for the euro. But may be affected by the US consumer price index at night, the data results may affect the performance of the euro.

GBPUSD

1.3250/1.3270 resistance

1.3175/1.3155 support

The performance of US inflation data slowed down. The US dollar fell last night, and the pound followed the trend and rose. There is no UK data released today. The market is concerned about the release of German September CPI data in the afternoon. If the data is better than expected, it will be more euros. I believe that the pound also has a chance to benefit. However, it may be affected by the results of the US Consumer Confidence Index data at night, which may affect the performance of the pound.

USDCHF

0.9915/0.9930 resistance

0.9855/0.9835 support

The dollar fell and the euro rose, indirectly boosting the Swiss franc. If the euro continues to rise against the dollar, the Lido Swiss Franc. The market is concerned about the release of German September CPI data in the afternoon. If the data is better than expected, bullish the Swiss franc as well. It is worth noting that the results of the US Consumer Confidence Index data at night may affect the performance of the US dollar, and the US dollar fluctuates against the Swiss franc.

USD/JPY

112.40/112.55 resistance

111.85/111.70 support

The US Dow fell, the Nikkei index continued to fall, and risk aversion caused the dollar to fall against the yen. It is currently recommended to continue to pay attention to stock market performance, against the trend of the dollar against the yen. It is worth noting that the results of the US Consumer Confidence Index data at night affect the performance of the USD/JPY.

AUDUSD

0.7135/0.7155 resistance

0.7085/0.7065 support

Australia economic indicators data was not good, Australia home loan license fell in August, the magnitude is greater than market expectations, bearish Australian dollar. It is worth noting that the results of the US Consumer Confidence Index data at night may affect the performance of the US dollar and affect the trend of the Australian dollar against the US dollar.

NZDUSD

0.6540/0.6555 resistance

0.6475/0.6460 support

Australia economic indicators data was not good, Australia home loan license fell in August, the magnitude is greater than market expectations, bearish New Zealand dollar as well. If the New Zealand dollar is dragged down by the Australian dollar, the New Zealand dollar has the opportunity to test support. It is worth noting that the results of the US Consumer Confidence Index data at night may affect the performance of the US dollar and affect the performance of the New Zealand dollar against the US dollar.

USD/CAD

1.3075/1.3090 resistance

1.3025/1.3000 support

The fall in oil prices is expected to affect Canadian crude oil export earnings, causing the Canadian dollar to fall. But the dollar fell, which boosted the Canadian dollar. In addition, the US crude oil inventories increased sharply, the oil price trend is unclear, the US dollar against the Canadian dollar has the opportunity to test the 1.31 level. In addition, it is worth noting that the US consumer confidence index data at the end of the results, the dollar performance may affect the Canadian dollar trend.

EUR/GBP

0.8775/0.8790 resistance

0.8740/0.8625 support

The dollar fell, boosting the euro, rising more than the pound, and the euro rose against the pound. Technically, the euro tested against the pound at 0.8775 and 0.8790. In the afternoon, Germany announced the September CPl data, if the data boosted the euro against the dollar, the bullish euro against the pound.

EURCHF

1.1485/1.1500 resistance

1.1460/1.1445 support

The dollar fell, the euro rebounded and the euro rose against the Swiss franc. In the afternoon, Germany announced the September CPl data. If the data boosts the euro against the US dollar, the bullish the euro against the Swiss franc.

XAUUSD

1222/1125 resistance

1215/1212 support

The US stock market fell, boosting gold. Coupled with the lower-than-expected impact of the US consumer price index, gold has soared. If the US data performance is not satisfactory tonight, it is expected to boost XAUUSD again. However, Asian stock markets rebounded this morning, and XAUUSD adjustments fell. It is worth noting that stock market performance and against the XAUUSD.

US crude oil futures:

71.75/72.05 resistance

70.75/70.45 support

Uncertainty in US politics and Sino-US trade and a sharp increase in crude oil inventories have caused oil prices to fall. But pay attention to seasonal demand to increase future demand, crude oil prices may rebound.

BTCUSD:

6330 / 6450 resistance

5980 /5860 support

US 10 year treasury bond yield keeps 7 year record high, capital funds transfer to bond . Cryptocurrency have a downside risk. Now, the market observe the performance of the US CPI tomorrow, the bitcoin keep downward. 

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

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

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

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