Personal opinions today:

 

Fed officials expect that the US economy will continue to recover, and the performance of the job market and wages are expected to maintain growth, driving inflation, indicating that it is expected to maintain a gradual rate hike. The rise in interest rates led to a decline in consumer power and corporate earnings, and the US Dow fell. The US Dow closed down last night and continued to close. The futures market continued to decline this morning. FTSE China A50 futures and Japan's Nikkei index also fell, and the dollar fell against the yen.

 

The market is waiting the  Germany's October CPl and UK job data in October. At 18:00 in the evening, the market focus on the ZEW economic sentiment index for Germany and the Eurozone in November as a forecast for tomorrow's European inflation data. In any case, the market focus will be on the growth forecast of the CPI in October and the US retail sales data in October after the release of the US, and the strength of the US dollar is expected to continue until the results are announced.

 

Later, this week, the Federal Reserve Chairman of the Board of Governors Powell and the European Central Bank President Mario Draghi spoke on Thursday, so keep watching the important economic data of Europe and the United States in the next two days.

 

Today's suggestion:

 

EURUSD 

1.1250/1.1275 resistance

1.1205/1.1180 support

Under the US CPl and retail sales growth forecast in October, the US dollar is strong. The Italian budget has worried the market, and the European Commission has threatened the Italian government to ignore the revision of the budget and may impose economic sanctions on it, which is bad for the euro. Technically, the euro fell below 1.1275 against the dollar. Without good news or strong performance in the euro area, the short-term euro still has the opportunity to test important support levels, such as 1.1205 or below.

 

GBPUSD

1.2910/1.2935 resistance

1.2815/1.2790 support

Fed officials said that the monetary policy orientation is biased, and the Fed is expected to raise interest rates next month, making the dollar strong. On this side of the United Kingdom, there are many obstacles in the face of the Brexit issue. Today, the UK announced October employment data, and tomorrow's inflation data including October CPl and retail sales are more worthy of attention. The market is expected that the pound will temporarily stabilize and stabilize today. Technically, the GBP has continued to adjust downwards. The adjustment wave is close to 73.6%, and 1.2815 is the short-term important support. If GBP break through the 1.2910 and 1.2935 reference resistance, the trend is expected to change.

 

USDCHF 

1.0085/1.0065 support

1.0115/1.0135 resistance

The Fed's interest rate decision shows that the monetary policy is biased toward the hike. It is expected that the Fed will raise interest rates next month, and the US CPl and retail sales growth forecasts in October will make the US dollar strong and bearish the Swiss franc. Technically, the US dollar against the Swiss franc follows the weak pace of EUR, looking up the resistance zone above. Under the expectation that the US dollar trend remains strong, the USD/Swiss franc has limited adjustment and the trend continues to rise. However, it is necessary to pay attention to the important data results of the Eurozone, whether it can boost the European currency and drive the Swiss franc to rise.

 

USD/JPY

113.80/114.00 resistance

113.45/113.25 support

The dollar fell against the yen as the US Dow and the Japanese Nikkei index fell. It is recommended to keep an eye on stock market performance. If the stock market continues to fall, it will affect the dollar's decline against the yen.

 

AUDUSD 

0.7180/0.7200 resistance

0.7150/0.7135 support

The launch of the APEC meeting will help promote economic development in the Asia-Pacific region and enhance market expectations. However, Fed officials said that the monetary policy orientation has tightened. Under the US CPl and retail sales growth forecast in October, the US dollar strengthened, and the Australian dollar continued to test support, and broke the important support of 0.7180. Technically, after the Australian dollar hit a double top, the important support level of 0.7180 fail the support. If the 0.7200 resistance does not break, the AUD’s trend is keeping weak.

 

NZDUSD 

0.6725/0.6745 resistance

0.6680/0.6660 support

With the tightening of the Fed's monetary policy orientation, the US dollar strengthened in the October CPl and retail sales growth forecast, the New Zealand dollar fell below the support level against the US dollar, and tested the 0.6725 and 0.6705 support again this morning. Next step may be to test 0.6680 and 0.6660 support.

 

USD/CAD

1.3265/1.3280 resistance

1.3190/1.3170 support

The US Federal Reserve’s monetary policy orientation has tightened, and the US dollar has strengthened under the US CPl and retail sales growth forecasts for October. The oil price fell, making it even more bearish for the Canadian dollar. After the dollar broke the 1.3155 and 1.3175 resistance levels against the Canadian dollar, it has entered the 1.32 level. If the oil price suddenly rebounds, it is expected Canadian dollar go strong.

 

EUR/GBP

0.8700/0.8680 support

0.8740/0.8755 resistance

The euro against the pound in the 0.8695/0.8675 support level temporarily received support, looking forward to 0.8740 first resistance. The European Commission is dissatisfied with the Italian deficit and affects the euro. There is an opportunity for the euro to rebound against the pound. 0.8700 is short-term support. If the rebound breaks through the resistance of 0.8755, the trend has the opportunity to develop upward. Pay close attention to the performance of the euro zone in the next two days, can change the downward trend of the euro against the pound.

 

EURCHF 

1.1355/1.1370 resistance

1.1315/1.1300 support

The European Commission is dissatisfied with the Italian deficit and affects the weakening of the euro. The euro still has a chance to fall against the Swiss franc. Technically, the euro has continued to fall against the Swiss franc. If there is no breakthrough in the resistance of 1.1355 and 1.1370, the downward trend is expected to continue. Pay close attention to the performance of the euro zone in the next two days, can change the downward trend of the euro against the Swiss franc.

 

XAUUSD 

1206/1209 resistance

1202/1199 support

Federal Reserve officials said that the monetary policy orientation has tightened, interest rates have risen, and gold has been downward. The dollar is strengthening and gold is facing downside risks. However, the stock market continued to fall, and the risky funds flowed into gold at any time, causing the price of gold to rebound. Technically, there is still downside risk in the gold trend, and 1212 is a very important short-term resistance. If the stock market continues to fall, the resistance on the gold breaks, the trend may be reversed, and may be expected to reach 1218 and 1221 US dollars. It is recommended to pay close attention to the stock market trend shortly before the US CPl and retail sales data are released in October.

 

US crude oil futures:

60.35/60.65 resistance

58.75/58.45 support

After the Fed’s interest rate decision and Fed officials said that monetary policy is gradually tightening, affecting the global economy, production and consumption confidence, so that crude oil demand fell. OPEC failed to reach a cut production, resulting in an increase in crude oil inventories, which is also a bearish oil price. At present, it still holds and see attitude. After the important support of 59.05, it is worth noting the important support of 58.75 and 58.45. It is expected that the level of 58 US dollars has returned to normal levels, and the decline in oil prices may be limited.

 

BTCUSD:

6325 / 6380 resistance 

 6195 / 6045 support 

After the Fed’s interest rate decision, the market expects monetary policy to tighten, the demand of crypto currencies changed. Some capital and fund moved to bonds and debt markets to get higher returns and safety fund . Probably the trend may keep until the end of this year or next FOMC meeting in mid-December. Crypto currencies investors may have to concern? the trend will keep going downward.

 

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

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