Reminder: North America will implement winter time from this Sunday to March 10, 2019. The trading time and data release time will be one hour later than the summer time. attention please!

 

Personal opinions today:

 

A few days ago, the US private sector announced ADP farm employment reported reached 227,000 better than last month, revised figures of 218,000 and market expectations of 189,000, and US labor costs rose quarter-to-quarter, better than market expectations. It is expected that the number of job data in October announced by the US Department of Labor will increase to nearly 210,000 to 230,000. If the actual result meets the range or beats the number, it will help boost the dollar. However, it is necessary to pay attention to the unemployment rate and the average wage announced at the same time. Because the unemployment rate is falling and the average wage is rising, the strength of the dollar can be extended. Otherwise, the strength of the dollar will be temporary.

 

At present, the EU has reached an agreement on the financial services after the Brexit. The Brexit Minister said that the Brexit Agreement will be completed by November 21, and the US and Europe and the United States will rebound from the low level. The news will support the Euro, causing the US dollar to fall, stimulating other currencies against the US dollar. The price of gold has risen. Therefore, the performance of the US employment report tonight will be the key. ,

 

Today's suggestion:

 

EURUSD 

1.1425/1.1460 resistance

1.1365/1.1330 support

US dollar adjustment, the market waits tonight the US Labor Department announced the employment market report. However, the euro continues to be approved by the European Union for the passage of the Italian budget, which will bring worry to the euro zone. The euro will rebound further and may lack motivation. Unless the US job data performance disappoints the market, the euro can break through the resistance. At present, the euro has found support in the mid-August low of 1.1302. The double bottom rebounded and broke through the resistance of 1.1355 and 1.1375. The 20-day moving average reference resistance is 1.1460, which is worthy of attention!

 

GBPUSD

1.3005/1.3040 resistance

1.2950/1.2925 support

Last night, the Bank of England decided to remain interest rates. After the good news came from the Brexit issue, the Bank of England’s monetary policy kept tightening forecasting, its policy orientation and boosted the pound. In addition, the market's Brexit negotiations continued to reach the goal, and the pound rebounded to 1.30. The market is watching the US job report for October tonight, limiting the gains of the pound, and the 20-day flat-average average stops at 1.3040. In general, if the US job data performance disappoints the market, the pound can break through the resistance.

 

USDCHF 

1.0045/1.0080 resistance

1.0005/0.9980 support

The euro has strengthened and indirectly supports the rebound of the Swiss franc. Technically, the US dollar was adjusted to 1.0005 against the Swiss franc, with a 10-day moving average support. If the euro rises further or the US employment data shows disappointing market, the Swiss franc can only test the 0.99 level.

 

USD/JPY

113.00/113.20 resistance

112.60/112.40 support

At present, the market is waiting to see the performance of job data in the United States. The USD/JPY has entered an adjustment, and the support level continues to support 112.60 and 112.40. The important USD/JPY trend continues to be affected by the stock market performance, so please pay attention. If the US non-farm payrolls data and other employment data are weak, the stock market falls, and the dollar is against the yen.

 

AUDUSD 

0.7225/0.7245 resistance

0.7160/0.7140 support

The dollar fell, industrial metals rebounded, boosting the Australian dollar, and the market continued to wait and see the performance of US job data tonight. If the US non-farm payrolls data and other employment data are weak, the US dollar continues to fall, and the Australian dollar has a chance to test the resistance at 0.7245.

 

NZDUSD 

0.6655/0.6690 resistance

0.6610/0.6580 support

The dollar fell, industrial metal prices rose, the Australian dollar rose against the dollar, and the New Zealand dollar also indirectly rose against the dollar. Technically, the head and shoulders pattern of the New Zealand hourly chart completely broke the resistance of the neckline, and looked at the 100-day average line resistance. It was believe that the gains are temporarily slowing down and there is an opportunity to adjust for support. It is recommended to pay attention to the development of the New Zealand dollar against the US dollar.

 

USD/CAD

1.3130/1.3160 ​​resistance

1.3075/1.3055 support

Although international crude oil prices continued to fall, the negative Canadian dollar. However, before the US employment data was released, oil prices developed separately from the Canadian dollar. At present, when the market waits to see the performance of the US job data tonight, it is technically concerned with the support level of 1.3055 for the 20-day moving average.

 

EUR/GBP

0.8760/0.8745 support

0.8790/0.8805 resistance

The Brexit negotiations provided good news, the pound rebounded strongly, compared with the euro, but the gain was less than the pound, the euro continued to fall against the pound. Watch the performance of US employment data tonight and the adjustment of the pound. Technically, the euro is expected to have a chance to test the 0.88 level against the pound and test the resistance above.

 

EURCHF 

1.1440/1.1455 resistance

1.1405/1.1390 ​​support

The trend of the euro against the Swiss franc has changed. The price of the euro against the Swiss franc has fallen below the 10 and 20-hour moving averages. The trend is likely to fall, which deserves attention.

 

XAUUSD :

1236/1239 resistance

1222/1220 support

Gold rebounded before the market waited for US job data. Technically, 1236 and 1239 are adjustment to resistances. If the overall US job data is weak tonight, gold has a chance to explore resistance. On the contrary, support will be tested. And pay special attention to the performance of the US Dow.

 

US crude oil futures:

65.40/65.85 resistance

63.15/62.85 support

The current market is waiting to see the US job data released, crude oil prices may drop to support in August and fell below. If the US job data is released tonight, the oil price has the opportunity to adjust the decline and maybe rebound.

 

BTCUSD:

6580 / 6650 resistance 

6260 /6060 support 

After all the US released economic indicators, the US dollar probably go weakened, it maybe positive the bitcoin. The market, now,focused on US job data  on Friday night. As expectation the bitcoin was test the  US6260 support and US6060 important support. It could be after the US job data and tests the support success, the bitcoin will rebound and going to reach the recommended resistance.

 

 

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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