Personal opinions today:

On October 17 and 18, the EU summit was held. The market estimates that the results of the UK and EU Brexit trade agreements will be announced at this time, and the market is waiting. In the afternoon, the UK announced the September consumer price index and retail price index, and the euro zone also announced the September consumer price index. The data is very important and has the opportunity to drive European currency fluctuations.

Today's suggestion:

EURUSD

1.1600/1.1620 resistance

1.1560/1.1540 support

On the eve of the EU summit, the euro was adjusted. From the UK side, it is said that the Brexit negotiations are expected to achieve results. If bullish the pound, the euro will follow the trend. More attention to the performance of the September consumer price index in the euro zone.

GBPUSD

1.3205/1.3235 resistance

1.3155/1.3125 support

The pound was adjusted on the eve of the EU summit. From the UK, it is revealed that the Brexit negotiations are expected to achieve results. The pound will fluctuate at any time in the short term, or during the EU summit announcement . Moreover, the UK data in the afternoon is also pay attention. Generally, the relevant consumer and retail sale data also affects the fluctuation of the pound.

USDCHF

0.9925/0.9940 resistance

0.9880/0.9860 support

The Swiss franc has weakened, the US dollar broke through 0.9900 against the Swiss franc, and the short-term trend will look at 0.9940. However, it must be noted that if the 0.9880 falls below, the trend may be reversed and there is a chance to test the lower support.

USD/JPY

112.55/112.75 resistance

112.15/111.95 support

The US Dow rebounded and closed higher. Japan’s Nikkei followed the pace and the dollar followed the yen. Technically, the initial breakthrough is 112.35, and the trend will be further tested at 112.55 and 112.75.

AUDUSD

0.7140/0.7155 resistance

0.7115/0.7100 support

After the market digested the comments of the Reserve Bank of Australia, the Australian dollar was adjusted. In addition, the adjustment of copper prices indirectly affects the trend of the Australian dollar. The market is watching the EU summit, and it is expected that the Australian dollar will adjust.

NZDUSD

0.6595/0.6610 resistance

0.6555/0.6540 support

In short-term New Zealand has no important data to announce, the market is watching the EU summit, it is expected that the New Zealand dollar trend will be adjusted first. But pay attention to the technical, the New Zealand dollar broke through 0.6610, the trend may be further strengthened, it is recommended to pay attention.

USD/CAD

1.2960/1.2975 resistance

1.2930/1.2915 support

The oil price trend is still optimistic, rising from the level of 70 US dollars to 71 US dollars, and the Lido dollar. The market expects the Canadian consumer price index and important economic data on retail sales to be released on Friday, with a bullish Canadian dollar. In the short-term, we must pay attention to the development of oil prices or the outcome of the Brexit negotiations, which also affects the performance of the Canadian dollar.

EUR/GBP

0.8785/0.8800 resistance

0.8760/0.8745 support

Earlier, the market rumored that the Brexit negotiations uncertainty. The fall of the pound made the euro perform better, which made the euro develop against the pound. However, the British government recently indicated that it is expected to successfully reach an agreement, and the trend is expected to reverse. It is expected that the trend of the euro against the pound may still be ranging before the EU summit announcement.

EURCHF

1.1475/1.1490 resistance

1.1450/1.1435 support

Technically, if the euro is adjusted to 1.1450 in short-term support against the Swiss franc, if it can still be stabilized, there will be a chance to rebound, and the near-term high is 1.1490.

XAUUSD

1228/1230 resistance

1220/1218 support

The US Dow's trend ended the most rebound and rebounded, rebounding more than 500 points, and gold just fell back at a high level. In the short-term technical, the price of gold has doubled and adjusted. The most important UK said that the Brexit Association is expected to reach an agreement, the market risk aversion is cooling, and the price of gold is adjusted. The EU summit will be launched. As long as the final results are implemented, it is expected that the price of gold will continue to decline.

US crude oil futures:

72.25/72.50 resistance

71.25/70.90 support

Recently, the United States has had a tense impact on the political relations between Iran and Saudi Arabia. The market is worried that the supply of crude oil will be affected and boost the price of oil. In addition, seasonal demand is expected to increase, and crude oil prices have the opportunity to test high. Technically, the price of crude oil is consolidated from US$71 to US$72. If it breaks through any party, the trend will have a chance to continue. At present, the fundamental and technical aspects of the crude oil price trend are higher, but attention must be paid to risk management.

BTCUSD:

6680 / 6750 resistance

6280 /6060 support

The performance of the US economy and fiscal deficits concerns. Also, the US CPI under the market expectations, the bitcoin demand increasing a bit and the price got support. If any bad news from US, it will increase the demand of bitcoin and the price may further go high.

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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