Personal opinions today:

 

The Fed’s interest rate meeting kept interest rates unchanged, but the Fed’s monetary policy orientation is tightened. It is expected that the Federal Reserve will raise interest rates by 0.25% on the 19th of next month. Investors increased their investment in dollar assets and the dollar rose. On the other hand, the European Commission expressed dissatisfaction with Italy's fiscal deficit, worried about the overall economic burden of the euro zone, and the euro fell, indirectly affecting the pound. The rise in the US dollar interest rate is expected to drive down the price of gold and silver. The bearish sentiment is expected to continue, and the oil price is also facing downside risks. Please pay attention!

 

At 17:30 pm, the performance of the third quarter GDP, industrial output and commodity trade accounts in the UK is noteworthy. Any data is positive, and it is more profitable than the US dollar.

 

At 21:30 and 23:00 in the evening, keep watching the US PPI in October, the wholesale sales in September and the initial value of the University of Michigan consumer confidence index in November. These all data could affected the dollar trend and the performance of the US Dow. Gold, silver and oil prices.

 

Today's suggestion:

 

EURUSD 

1.1375/1.1390 ​​resistance

1.1350/1.1335 support

Although the Fed’s interest rate decision remains unchanged, the policy orientation is biased. It is expected that the Fed will raise interest rates next month, making the US dollar strong and bearish against the euro. Technically, EURUSD have adjusted from 1.1498, and have returned to the low of November 5, and can refer to the resistance of 1.1375 and 1.1390. As likely recommendation yesterday, EURUSD fell below 1.1375 and 1.1355. Now if following the downward,  1.1315 and 1.1300 become a key support areas.

 

GBPUSD

1.3085/1.3105 resistance

1.3000/1.2975 support

The Fed’s interest rate decision shows that the monetary policy is biased toward the eagle. It is expected that the Fed will raise interest rates next month, making the dollar strong and bearish. Technically, after the pound has ended its rebound, the adjustment target of 1.3085 has exceeded and the downside risk has increased. Pay attention to the performance of important economic data in the UK in this afternoon, and whether the results can change the bearish sentiment.

 

USDCHF 

1.0035/1.0015 support

1.0080/1.0095 resistance

The Fed’s interest rate decision shows that the monetary policy is biased towards the eagle. It is expected that the Fed will raise interest rates next month, making the US dollar strong and bearish the Swiss franc. Technically, the US dollar against the Swiss franc once again looked at resistance at 1.0080 or 1.0095. Under the expectation that the US dollar trend remains strong, the USDCHF has limited adjustment and the trend continues to rise.

 

USD/JPY

114.00/114.15 resistance

113.60/113.45 support

After the Fed’s interest rate decision, the monetary policy orientation made the US dollar strong, and the USD/JPY once tested 114. However, the interest rate hike is expected to cause the US Dow and Japan's Nikkei to fall, which will cause the dollar to fall against the yen. It is recommended to keep an eye on stock market performance and how it will affect the dollar against the yen.

 

AUDUSD 

0.7255/0.7270 resistance

0.7215/0.7200 support

The Fed’s interest rate monetary policy orientation tightened, the US dollar strengthened, the Australian dollar adjusted against the US dollar, and the support below was down. Technically, after the Australian dollar has doubled against the US dollar, there is a chance to test 0.7215 and 0.7200 support. The important support for reference is 0.7180.

 

NZDUSD 

0.6770/0.6790 resistance

0.6725/0.6705 support

The Fed’s interest rate monetary policy orientation tightened, the US dollar strengthened, the Australian dollar adjusted against the US dollar, and the support below was down. Short-term resistance of 0.6770 and 0.6790 is worth noting. If there is no reason to break the resistance, there is a chance to test 0.6725 and 0.6705 support.

 

USD/CAD

1.3190/1.3220 resistance

1.3130/1.3100 support

The Fed’s interest rate monetary policy orientation has tightened and the US dollar has strengthened. At the same time, tightening monetary policy affects consumption and production power, which will increase crude oil inventories and cause oil prices to fall, which is bad for the Canadian dollar. In the short-term USD/CAD, 1.3155 and 1.3175, the resistance level has broken through and it is expected to continue to look forward to 1.32. If the oil price can rebound, it is expected to increase the Canadian dollar.

 

EUR/GBP

0.8695/0.8675 support

0.8720/0.8740 resistance

The EURGBP remained flat in the 0.8695/0.8675 support. The European Commission is not satisfied with the Italian deficit and may affect the euro. If EURUSD continue to strengthen against the pound, the euro still has a chance to fall against the pound. 0.8720 and 0.8740 are short-term resistance respectively. If rebound and breaks through the resistance, the trend has the opportunity to go up.

 

EURCHF 

1.1440/1.1460 resistance

1.1420/1.1405 support

Technically, the euro is in the adjustment phase of the Swiss franc, and the reference resistance is lowered to the resistance of 1.1440 and 1.1460. After the price has fallen below 1.1440, the support below can refer to 1.1405.

 

XAUUSD 

1224/1227 resistance

1218/1215 support

The Fed’s interest rate monetary policy orientation has tightened, and the US dollar has strengthened. Gold is facing adjustment risks and has reached the expected target of 1222 and US$1220. In coming next month before the FOMC meeting, it is expected that the Fed’s monetary policy stance will allow gold to continue to explore the 1212 support below the dollar or lower.

 

US crude oil futures:

60.35/60.15 support

61.45/61.65 resistance

After the Fed’s interest rate decision, the market expected monetary policy to tighten, affecting crude oil demand, and US crude oil prices fell further, falling below the 61.80 and 61.15 support areas. It is currently expected that the supply of crude oil will eliminate market worries and reduce the chances of rebound in crude oil prices.

 

BTCUSD:

6580 / 6615 resistance 

6320 /6195 support 

After the US mid-term election, the political still have uncertainty and higher risk in 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 and test the technically resistance US6615.

 

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.