Personal opinions today:

 

The Brexit issue dominates the fate of the pound. The EU Brexit Committee required the British government to submit a draft of the Brexit agreement by the 25th of this month, so that the European Commission has enough time to review and pass the Brexit bill next year. Unfortunately, the British parliament is full of contradictions, and the parties and members of Congress who oppose the draft Brexit agreement are harassing. The British opposition parties are interested in forcing British Prime Minister Tracy May to take the lead. In the face of British political risks and the process of Brexit is uncertain. Pounds fell below 1.30, 1.28. The market is looking tomorrow. The Bank of England governor and vice president to issue the central bank's November inflation report. Faced with the above problems, the pound fell, indirectly limiting the rise of other European currencies.

 

The outlook for the UK is uncertain. The Fed may suspend interest rate hikes. Some of the funds flow to gold. After the gold broke through $1,216, it once went up to $1,225. However, the Asia-Pacific Economic and Trade Organization cooperation conference has achieved results and Sino-US trade relations have eased and the stock market has risen. Or hedge funds will flow out of gold, limiting gold gains. In addition, strengthening economic and trade cooperation will help production and consumption. Some funds may flow to the crude oil market and have the opportunity to increase oil prices.

 

Today's suggestion:

 

EURUSD 

1.1425/1.1455 resistance

1.1375/1.1355 support

The progress of the Brexit and political risks, there is an opportunity to make the pound fall, which may indirectly affect the decline of euro. In addition, the current market estimates that the Fed may suspend interest rate hikes, but the news has not been confirmed, and may not be enough to maintain further up in euro. Technically, the two resistance positions of the rebound wave are the resistances of 1.1425 and 1.1455, respectively, and the risk of reversing the trend is maintained.

 

GBPUSD

1.2875/1.2900 resistance

1.2790/1.2779 support

The progress of the Brexit agreement has worried the market. The British Prime Minister has been impeached by Congress and politically uneasy, increasing the risk of falling pounds. In the pound, the US rebounded its power limit, while the technical attention was paid to the resistance of 1.2875 and 1.2900. If the breakthrough fails, you will always face the downside risk.

 

USDCHF 

0.9985/0.9965 support

1.0025/1.0045 resistance

The rebound in euro led to the rise of the Swiss franc. The main reason is that the market estimates that the Fed may suspend the interest rate hike and indirectly benefit the Swiss franc. However, whether the Fed’s interest rate hike is suspended is difficult to assess at present, and the market still believes that the Fed will raise interest rates in December. If the dollar continues to be strong, the US dollar against the Swiss franc technically pays attention to return to the resistance of 1.0025 and 1.0045.

 

USD/JPY

113.15/113.35 resistance

112.55/112.35 support

The market estimates that the Fed may suspend interest rate hikes and indirectly boost the yen. However, whether the Fed’s interest rate hike is suspended is difficult to assess at present, and the market still believes that the Fed will raise interest rates in December. If the dollar strengthens, the dollar will have a chance to rebound against the yen. Technically, 112.55 is the low level in early November, so pay attention to this important support level.

 

AUDUSD 

0.7330/0.7345 resistance

0.7295/0.7280 support

The APEC meeting promoted economic cooperation in the Asia-Pacific region. The conference adopted a number of cooperation programs to stimulate the economy. In addition, at the end of this month, the leaders of China and the United States met and the two countries planned to discuss and resolve trade differences, boosting the currencies of the Asia-Pacific region and driving the Australian dollar to rise. At present, it is recommended to start to focus on downside risks and explore the support below.

 

NZDUSD 

0.6880/0.6895 resistance

0.6840/0.6825 support

At the end of the APEC meeting, multilateral trade cooperation has boosted the Asia-Pacific economy and stimulated New Zealand’s economic performance. But after the meeting, It maybe believe that the New Zealand dollar may be adjusted. Currently concerned about the support levels below, such as 0.6840 and 0.6825. However, if you lose the support level, the trend will be reversed.

 

USD/CAD

1.3180/1.3200 resistance

1.3135/1.3120 support

The price of oil has risen, with a bullish Canadian dollar. Coupled with the market expectation that the Fed may suspend interest rate hikes, it has boosted the Canadian dollar. However, it is believed that the market continues to evaluate the Fed’s interest rate hike in December, which is a negative for the Canadian dollar. If the oil price does not continue to rise, pay attention to the risk of the Canadian dollar falling, the dollar against the Canadian dollar to explore the resistance of 1.3200.

 

EUR/GBP

0.8895/0.8925 resistance

0.8855/0.8835 support

The euro rose, the pound fell, and the euro against pound rose. Technically, the euro has been out of the downward trend for a while. If the EURUSD adjusts and fall, the euro may also adjust to fall against the pound.

 

EURCHF 

1.1415/1.1435 resistance

1.1385/1.1365 support

It seems the euro’s trend is better than the Swiss franc, and the euro is rising against the Swiss franc. If the euro’s trend fall in the near future, the euro may adjust to fall against the Swiss franc. Technically, the 1.1435 resistance is very important and worthy of attention.

 

XAUUSD 

1226/1230 resistance

1218/1214 support

The Brexit problem has created new risks, and some assets flow to gold for hedge. Coupled with the Fed may suspend interest rate hikes, so that the price of gold rose. If the risk continues to deteriorate, gold may challenge $1,230. However, it must be noted that Sino-US relations have eased and the stock market has risen, which has led to the outflow of funds from the gold market. At present, long and short positions are in focus and pay attention to trading risks.

 

US crude oil futures:

58.15/58.85 resistance

56.70/56.20 support

The OPEC agreed to cut production, and the Fed intends to suspend interest rate hikes, boosting demand for crude oil. Whether the oil price can fully return to 58 US dollars and restore the reasonable normal price, it means the market concerns changed. In general, as winter enters, the demand for crude oil generally rises, and oil prices are expected to improve.

 

BTCUSD:

5670 / 5820 resistance 

 5395 / 5240 support 

US Fed intends interest rate hike, the demand of crypto currencies changed.  Probably the crypto currencies may keep downward until next FOMC meeting in mid-December. The  downside target may test USD 5240 first support. If the bitcoin break USD5820 resistance, it maybe change the downward trend.

 

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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