Personal opinions today:

 

The US presidential midterm election ended, the seats were redistributed, and the Republican Party led by Trump stabilized the Senate seat and did not affect the ability of US President Trump to govern. The market responded well, the US stock market rose, and the US dollar finally got support and rebounded with the Dow. Once again prove that the normality of the investment market is the truth of "seeing the weather after the storm."

 

The next step in the market will be to watch the Fed meeting on interest rates. At 3 am Beijing time on Friday, the Fed will announce its monetary policy orientation. Most investors believe that the Fed will raise interest rates by 0.25% when it raises interest rates in December. It is hoped that this meeting will find further clear answers, and in the short term, Europe and other countries are not ready to raise interest rates. It is estimated that the US dollar will be supported. Flow to the dollar. If gold and silver are expected to rise in the US dollar interest rate, bearish sentiment is expected to heat up, and the stock market and oil prices will have downside risks. Please pay attention!

 

Today's suggestion:

 

EURUSD 

1.1455/1.1470 resistance

1.1395/1.1375 support

During the US presidential midterm elections, the euro had risen and once challenged the resistance of 1.1495. In the final US presidential election, the Republican Party has guaranteed more seats and the dollar rebounded. On the eve of the Fed’s interest rate decision, the US dollar is strong and bearish against the euro. Technically, you can refer to 1.1455 and 1.1470 resistance and 1.1375 support. If it falls below 1.1375 support, the first target is set at 1.1355.

 

GBPUSD

1.3155/1.3170 resistance

1.3105/1.3085 support

The British Prime Minister submitted the Brexit plan as soon as possible this week to resolve the Irish border issue. He is looking forward to the acceptance of the EU Brexit Committee and is currently bullish. Technically, GBP continues to develop in the rebound. 1.3173 was 85.2%% resistance to the rebound, and failed to break through yesterday. If the adjustment is stabilized on the support of 1.3085, it is expected that the pound will once again explore the resistance. However, it is necessary to pay attention to the situation of the Brexit negotiations, and whether it can cope with the rising conditions of the GBP, otherwise there will be great downside risks.

 

US dollar against Swiss franc

1.0005/0.9985 support

1.0035/1.0050 resistance

During the US presidential midterm elections, Europe and the United States strengthened, and indirectly benefited the Swiss franc. Technically, the US dollar has seen 0.9952 against the Swiss franc. If the euro can rebound, the dollar will be able to test 0.9985 support against the Swiss franc. But facing

 

USD/JPY

113.80/114.00 resistance

113.45/113.25 support

The Fed’s interest rate decision, under the strong dollar, is believed to still see more US dollar against the yen, and the 114 level opportunity will increase. But we must pay attention to the performance of the US Dow and the Japanese Nikkei. If the stock market falls, it will cause the dollar to fall against the yen.

 

AUDUSD 

0.7280/0.7300 resistance

0.7255/0.7240 support

Sino-US trade relations have eased, making Sino-Australian trade cooperation better, and the Australian dollar has been on the US dollar. However, the Fed’s interest rate is imminent, the US dollar has a chance to strengthen, and the Australian dollar may adjust first, and then test the support below.

 

NZDUSD 

0.6785/0.6800 resistance

0.6740/0.6720 support

Sino-US trade relations eased, making China-Australia trade cooperation better, the New Zealand economy accepting benefits, and the New Zealand dollar against the US dollar. However, the Fed’s interest rate is imminent, the US dollar has a chance to strengthen, and the New Zealand dollar may adjust first, and then test the support below.

 

USD/CAD

1.3155/1.3175 resistance

1.3105/1.3085 support

US crude oil inventories have increased sharply, causing oil prices to fall. The Fed’s interest rate cuts have made investors cautious and observe. Oil prices are low and fail to boost the Canadian dollar. If the oil price rebounds, positives Canadian dollar, the USDCAD is expected to test 1.3085 support. Short-term 1.3155 and 1.3175 are reference for resistance.

 

EUR/GBP

0.8720/0.8740 resistance

0.8695/0.8675 support

The euro continued to fall against the pound. The market waits for the outcome of the EU finance ministers meeting and the Brexit negotiations. If EURUSD continue to hold strong, the euro still has a chance to fall against the pound. 0.8720 and 0.8740 are short-term resistance respectively. If the rebound breaks through the resistance, the trend has the opportunity to go up.

 

EURCHF 

1.1470/1.1485 resistance

1.1440/1.1425 support

The euro's strong performance led the euro to rise against the Swiss franc. At present, the market is waiting for the Fed interest rates decision and keep the range fluctuating. Technically, refer to the resistance of 1.1470 and 1.1485. If it falls below the 1.1440 and 1.1425 support areas, the trend will likely fall.

 

XAUUSD :

1231/1233 resistance

1222/1220 support

In the US mid-term election, the Republican Party led by the president Trump succeeded in maintaining interest rates in the Senate. After the gold touched the resistance of 1236, it adjusted and the target was down to 1222 and 1220 dollars. It is expected that gold will continue to test lower support before the Fed's interest rate decision.

 

US crude oil futures:

61.35/61.15 support

62.45/62.65 resistance

Crude oil prices have fallen, and US crude oil futures have technically further supported areas of 61.80 and 61.15. It is expected that crude oil prices will continue to fall below the low level before the Fed's interest rate decision. After the Fed’s interest rate decision, it is expected to eliminate market worries and bring the price rebound.

 

BTCUSD:

6580 / 6615 resistance 

6320 /6195 support 

After the US mid-term election, the political uncertainty and the risk of stock market.  Crypto currencies may think as a safeguard, the bitcoin has the opportunity to go up. The price of bitcoin had chance to reach US6544. Now may keep watching the election result and find out the trend of the bitcoin. Technically, 6615 as the rebound level 38.2%.

 

 

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: cs.gm@atfx.com or wechat: ATFX_China

Legal: 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.