ATFX Market Update_Martin

ATFX Market Update - 2018.11.26

ATFX
Publish date: Mon, 26 Nov 2018, 12:47 PM
Personal opinions today:

At the end of the US Thanksgiving holiday, the US market transaction returned to normal, and the US Dow became the focus after the holiday. Before the market waits for the US to announce the final results of the third quarter GDP, the negative sentiment may cause the US stock market to fall, which deserves attention.

This afternoon, Germany announced the November IFO Business Climate Index. Watching the performance of the Dallas Fed Business Activity Index in November, the impact on the US dollar. The general market expects the Fed to raise interest rates optimistically. In Europe, France is politically unstable. The Brexit issue is pending final approval by the British Parliament. However, under the opposition of the opposition party and the Irish Unification Party, there is an opportunity to continue to bearish the European currency and create a rise in the US dollar. Gold may also fall.

Today's suggestion:

EURUSD 
1.1365/1.1390 ​​resistance
1.1320/1.1295 support
During the weekend, the EU passed the draft Brexit agreement, but the Brexit agreement still needs to wait for the final approval and finalization of the British Parliament this week. It is a pity that the opposition in the British Parliament is endless, so it limits the rise of EURUSD,and even the negative sentiment, Euro may continue to decline. At present, we are concerned about the resistance of 1.1365 and 1.1390. If this week, due to the smooth progress of Brexit, EURUSD will have the opportunity to test the 1.15 mark.

GBPUSD
1.2845/1.2870 resistance
1.2775/1.2750 support
During the weekend, the EU passed the draft Brexit agreement, but the Brexit agreement still needs to wait for the final approval and finalization of the British Parliament this week. It is a pity that the opposition in the British Parliament is endless and brings bad feelings. On the first day of the market, the pound has continued to decline. The political turmoil in Britain has not subsided yet, and the trend of the pound has turned stronger. The pound has the opportunity to maintain a downward trend. Technically, 1.2870 is an important resistance.

USDCHF 
0.9955/0.9940 support
1.0010/1.0035 resistance
The EU passed the draft Brexit agreement, but the Brexit agreement still needs to wait for the final approval and finalization of the British Parliament this week. EURUSD are still falling, and the Swiss franc is bad. Plus the current market still believes that the Fed will raise interest rates in December. If the dollar continues to be strong, the dollar will once again return to the 0.9985 resistance against the Swiss franc. Next, you may try the first resistance zone at 1.0035 and 1.0050.

USD/JPY
113.45/113.60 resistance
112.85/112.70 support
The stock market stabilized and the funds flowed out of the yen. The dollar returned to the 113 level against the yen. If the stock market rises further, the dollar is expected to continue to rise against the yen. On the contrary, the USD/JPY will test the technical support at 112.55. I believe that the fundamental support is expected to be tested at 113.45 and 113.60.

AUDUSD 
0.7255/0.7275 resistance
0.7220/0.7200 support
New Zealand's third-quarter retail sales annual and quarterly rates fell, and the negative performance of the New Zealand dollar indirectly affected the Australian dollar. At present, the market generally expects the Fed to raise interest rates in December, which is believed to be one of the short-term negative factors in AUD. Coupled with the lack of good news in Australia, it is recommended to keep an eye on the downside risks and explore the support below.

NZDUSD 
0.6780/0.6800 resistance
0.6740/0.6725 support
New Zealand's third-quarter retail sales annual and quarterly rates fell, and the negative New Zealand dollar performance. At the same time, the data is weak, affecting the expectation of raising interest rates. New Zealand's October trade data will be released tomorrow morning, and exports are expected to slow down. It is recommended to keep an eye on the downside risks and explore the support below.

USD/CAD
1.3230/1.3255 resistance
1.3180/1.3155 support
The oil price trend continued to be weak, which was negative for the Canadian dollar. If the oil price gets rid of the downward trend, there will be a chance to increase the Canadian dollar. At present, we are closely monitoring the direct impact of oil price performance on the Canadian dollar.

EUR/GBP
0.8870/0.8895 resistance
0.8800/0.8775 support
There is new steps in Brexit and there is an opportunity to boost the pound and make the euro fall against the pound. The current view of the UK and the EU is finally the result of the British Parliament. If the finalization can be approved the agreement by British parliament, the euro may have further room to fall against the pound.

EURCHF 
1.1335/1.1355 resistance
1.1290/1.1270 support
Currently concerned about 1.1290 and 1.1270 support, if the support level is maintained, the euro against the Swiss franc will likely test the resistance of 1.1355.

XAUUSD 
1226/1228 resistance
1221/1219 support
Progress in Brexit good, with a slight reduction in the use of gold as a hedge. After the Fed may raise interest rates in December, it may stop raising interest rates, making gold tried to test $1,230. At present, long and short positions are in competition and attention is paid to trading risks. Market risk has gradually turned positive, and gold has the opportunity to downside.

US crude oil futures:
52.05/52.55 resistance
50.20/49.70 support
Earlier, the OPEC agreed to cut production next month, and the Fed intends to suspend interest rate hikes, which is expected to keep demand for crude oil rising. It is expected that the supply of crude oil will have the opportunity to reduce the price of oil. In general, during the winter, the demand for crude oil has generally increased, and it is expected to increase the price of oil.

BTCUSD:
4080 / 4320 resistance 
3575 / 3300support 
US Fed intends interest rate hike and US government intends to control the crypto currency market , it made the demand changed, 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

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.

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