Personal opinions today:

 

On the eve of the US Thanksgiving holiday, some US data were announced in advance. Last night, the US released the jobless claims, the durable goods orders in October and the University of Michigan consumer confidence index. All relevant data will affect the US GDP data forecast next week. Due to the performance of US data yesterday, Fed officials said that it is possible to suspend the pace of interest rate hikes next spring, stimulating the performance of the Dow, but the dollar is adjusted. In Europe, the Italian government's fiscal deficit budget, attitude began to soften, the Italian government intends to amend the budget, to avoid EU government financial sanctions, the euro performance has improved.

 

Today the European Central Bank announced the October monetary policy meeting record and the euro zone consumer confidence index for November. On the eve of the US Thanksgiving holiday, there is no data released in the US and the US market is closed. Please pay attention to investors!

 

Today's suggestion:

 

EURUSD 

1.1405/1.1425 resistance

1.1360/1.1340 support

During the EU summit, the UK and the EU reached a draft of the Brexit, but the market worried that the Spanish government intends to oppose the draft of the Brexit, so that the Brexit agreement could not be finalized and continue to affect the performance of Euro. It is believe that there is still a chance for the euro to go down further. Explore the low position. More focus on 1.1425 resistance and 1.1455 important resistance in the short term.

 

GBPUSD

1.2815/1.2835 resistance

1.2765/1.2740 support

The progress of the Brexit and political risks have affected the performance of the Pound US. Since the fall of the Pound US, the US dollar has weakened and the Pound US still cannot recover. It is believe that the current US dollar is weak, and there is a chance to further explore the low. However, it is necessary to pay attention to the British government and the Prime Minister's remarks. If the speech is positive, there is an opportunity to boost the pound's resistance to the 1.2850.

 

USDCHF 

0.9935/0.9920 support

0.9965/0.9980 resistance

The Brexit incident is unclear, and the performance in Euro has weakened, which also affects the trend of the Swiss franc. The market still believes that the Fed will raise interest rates in December. If the US dollar remains strong, the US dollar against the Swiss franc technically pay attention to return to the upper resistance, such as resistance of 0.9980 or above.

 

USD/JPY

113.20/113.40 resistance

112.75/112.55 support

The stock market rebounded and the dollar returned to 113 resistance against the yen. Technically, USD/JPY 112.55 is the low level in early November. It is believe that under the support of the fundamentals, 112.55 support can be maintained for some time, and it is expected to test 113.80.

 

AUDUSD 

0.7275/0.7295 resistance

0.7220/0.7200 support

Federal Reserve officials said it is possible to suspend the pace of interest rate hikes next year and boost the Australian dollar. However, the market generally expects the Fed to raise interest rates in December. At the end of this month, the leaders of China and the United States met with unknown results, which is believed to be one of the obstacles. Technically, it is recommended to keep an eye on the downside risks and explore the support below in short term.

 

NZDUSD

0.6795/0.6820 resistance

0.6750/0.6725 support

Yesterday, the Fed officials said it is possible to suspend the pace of interest rate hikes next year, and the New Zealand dollar has rebounded. However, the market generally expects the Fed to raise interest rates in December. At the end of this month, the leaders of China and the United States met with unknown results, which is believed to be one of the obstacles. In the US Thanksgiving holiday, It is believe that New Zealand will enter the adjustment stage. It is recommended to keep an eye on the downside risks and explore the support below in short term.

 

USD/CAD

1.3250/1.3275 resistance

1.3205/1.3180 support

The price of crude oil fluctuated, but the trend was weak and bearish for the Canadian dollar. Federal Reserve officials said that they may stop raising interest rates after spring, oil prices have risen and the Canadian dollar rebounded. At present, we are closely monitoring the impact of oil price performance on the Canadian dollar.

 

EUR/GBP

0.8925/0.8945 resistance

0.8880/0.8865 support

A few days ago, Euro and the pound have fallen by a hundred points, but the magnitude is the same. It has not affected the volatility of the euro against the pound. The euro is currently performing better and maintaining the upward trend of the euro against the pound. If the pound falls, the euro may rise to the pound.

 

EURCHF 

1.1340/1.1355 resistance

1.1300/1.1280 support

The Brexit issue continues to worry, Italy's finances may be sanctioned by the EU, causing the euro to fall, while the Swiss franc is performing normally, causing the euro to fall against the Swiss franc. If Euro may decline future in the near future, the euro may further decline against the Swiss franc.

 

XAUUSD 

1228/1230 resistance

1222/1220 support

The Brexit problem in the UK has created new risks, and the price of gold has increased due to risk aversion. In addition, the new news means that the Fed may stop raising interest rates after a possible interest rate hike in December, so that gold will once again test for $1,230. But the stock market returns strengthened, gold may go down. At present, long and short positions are in competition and attention is paid to trading risks.

 

US crude oil futures:

55.55/56.05 resistance

53.90/53.50 support

Earlier, the oil group agreed to cut production next month, and the Fed intends to suspend interest rate hikes, which once stimulated the rise in demand for crude oil. It is expected that the supply of crude oil will have the opportunity to reduce the price of oil. The reduction in US crude oil inventories is expected to return oil prices to US$55 and then US$58. The winter starts , crude oil demand generally rises and oil prices are expected to rise.

 

BTCUSD:

4680 / 4920 resistance 

4060 / 3875 support 

US Fed intends interest rate hike and US government starting to control and setting legal regulation to all crypto currencies, it made the demand changed.  Some crypto miners said they already stop mining, probably let the bitcoin price stable. However, the crypto currencies may keep downward until next FOMC meeting in mid-December. The  downside target may test lower support. If the bitcoin break USD4680 resistance, hopefully, that can be change the 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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