Personal opinions today:

The US third-quarter GDP revision figure was lower than expected, only 3.5%, maintaining the initial release of the initial value. The US economy is expanding moderately, proving that the Fed’s interest rate is now 2.25%. Last night, US Federal Reserve Chairman Powell said that the Fed interest rate is close to neutral, meaning that the Fed may have to slow down the pace of interest rate hikes or maybe pause. The market expects the Fed to raise interest rates next month, and the interest rate hike will be limited in the next 2019. The US dollar index fell slightly. After the Fed Chairman’s announcement of interest rate doves, the cost of corporate loans fell, the economy and consumption were boosted, and the US Dow was boosted. The Dow closed up more than 600 points compared with yesterday and the oil price stabilized at $50, and the price of gold rebounded.

At present, another focus of the market is the risk of Brexit. The draft Brexit agreement plans to submit the draft of the Brexit agreement, which was submitted to the European Commission, to the British Parliament for debate on December 4-5 and December 10-11. The results of the debate will be announced at 12am on December 12th, Beijing time. It maybe believe that during the current debate period, the pound is fluctuating. Observing past performance, the draft passes the opportunity, and the exchange rate of the pound will be higher than the 1.30 level. If the opposition draft is inexhaustible, the pound will be down and close to 1.26. If higher risk in the market, the gold prices could be rise.

Today's data attention includes:
In the afternoon, Switzerland's third quarter GDP, Germany's November unemployment rate and unemployment, and Germany's CPl. It is worthy of attention. Before the release of CPl in Germany, France and Spain CPl can be used as a reference. In the evening of Canada, the third quarter of the current account, the US personal income and expenditure in October, more important attention to one of the overnight PCE core price index. As usual, the European data growth in the afternoon, bullish the European currency. However, in the evening, attention was paid to the expected good performance of the US economic data. The US dollar may rise against major currencies, negative for non-US currencies, and bearish for gold. In addition, the market began to pay attention to the G20 Leaders Summit held on the weekend. The Chinese President and the President of the United States meet at any time to express the Sino-US trade negotiation information.

Today's suggestion:

EURUSD 
1.1375/1.1390 ​​resistance
1.1320/1.1300 support
The comments of the Fed chairman made investors estimate that the Fed’s interest rate hike will slow down or maybe pause, negative the dollar, boost the euro, but believe that the euro rebound is only short-term. The European economy is growing at a slower rate, the Italian fiscal deficit problem remains unresolved and the Brexit issue is at risk, and the euro is unlikely to rise sharply. Technically, the resistance of 1.1390 ​​in Euro is very important. If there is no good news to further stimulate the breakthrough resistance, it is estimated that there is a downside risk in Euro.

GBPUSD
1.2855/1.2875 resistance
1.2775/1.2750 support
The draft Brexit agreement will be handed over to the British Parliament for debate from the beginning of next month to the 12th. There are still many remarks before the debate on the draft agreement. If the opposition in the British Parliament is not overwhelming, it will continue to bring bad feelings. The pound will continue to decline. The greater the pessimism, the pound may break below 1.2700 and look down to the August low of 1.2655. It is recommended to pay attention to the important resistance of 1.2855 and 1.2875. If there is no breakthrough beyond this range, the downward trend of the pound will remain unchanged.

USDCHF 
0.9915/0.9890 support
0.9950/0.9975 resistance
The Fed chairman released the dovish speech, and the comments caused the dollar to fall, and the dollar fell against the Swiss franc. However, the news is short-term, whether the trend can continue, and we must remain concerned about the performance of US inflation. In the evening, the United States announced personal income and expenditure in October, and more importantly focused on the core PCE price index. If inflation is still strong, and the US dollar has a chance to break the 0.9890 support against the Swiss franc.

USD/JPY
113.75/114.00 resistance
113.25/113.00 support
The US Dow's continued going well, driving the global stock market index to rise, and the USD/JPY once tested 114. As the US announced a modest GDP performance in the third quarter, the Fed released dovish speech, the dollar fell, and the dollar was bullish. The short-term USD/JPY has the opportunity to test 113.25 or 113.00 support, but must pay attention to the performance of US inflation data at night. If the performance was grow, it will be negative for the yen.

AUDUSD 
0.7315/0.7330 resistance
0.7265/0.7250 support
The Fed released the dovish, the dollar fell, and the Australian dollar rebounded sharply against the US dollar. There is no good data coordination in Australia, and the G20 meeting is just around the corner. There are hidden concerns in the Sino-US trade negotiations in the market. It is estimated that the Australian dollar will have adjustment. Technically, 0.7250 as fist support.

NZDUSD 
0.6855/0.6870 resistance
0.6815/0.6795 support
With the dovish speech of the Fed Chairman, the New Zealand dollar was boosted. But these speeches alone failed to convince investors that the Fed will raise interest rates in the future. Coupled with the inflation data released by the United States tonight, It could believe that the New Zealand dollar will be adjusted and test support.

USD/CAD
1.3305/1.3325 resistance
1.3265/1.3235 support
The Fed’s president’s dovish speech boosted the Canadian dollar and the dollar was adjusted against the Canadian dollar. However, the current oil price performance is weak. The market is waiting to see the inflation data released by the US tonight. It could believe that the scope of the above recommendations will fluctuate in the short term. In addition, it is recommended to pay more attention to oil price performance when trading, if the oil price rises, it will help the dollar to fall against the Canadian dollar.

EUR/GBP
0.8865/0.8880 resistance
0.8830/0.8815 support
At present, the draft Brexit agreement is pending in the next month, and the euro is stronger than the pound. Short-term recommendations are traded within the above recommendations to see any breakthrough.

EURCHF 
1.1300/1.1315 resistance
1.1260/1.1245 support
Switzerland announced third-quarter GDP data, expecting a bullish Swiss franc, and the euro has a downside risk against the Swiss franc. Currently concerned about the resistance of 1.1300 and 1.1315, looking down on support. If the euro breaks above the important resistance of 1.1330 against the Swiss franc, the trend may change.

XAUUSD 
1226/1228 resistance
1216/1214 support
Although the chairman of the Federal Reserve Board commented the dovish speech last night, it is generally believed that the Fed’s interest rate hike in December is a bearish gold. And the rise in the US stock market is also a bad price. Only the G20 meeting will be ready tomorrow, and whether the Sino-US trade relationship can be improved is still the key. It is recommended to focus on the trade between support and resistance above. After the end of the weekend G20 meeting, pay attention to the trend may change..

US crude oil futures:
52.05/52.35 resistance
50.20/49.95 support
Sino-US trade relations have not been clear, and the demand for crude oil will continue to be negative. It is difficult to stimulate the rise in demand for crude oil in the short term. It is estimated that oil prices will continue to be downward. If good news is heard at the G20 meeting on the weekend, it is expected that crude oil prices will have a chance to rebound.

BTCUSD:
4320 / 4550 resistance 
3820/ 3575  support 
With the dovish speech of the US’s Fed Chairman, the bitcoin seems stopped to fall and breakthrough US4000 resistance. Technically, the crypto currencies looks stable, the price may maintain above US3830, the price could be going up. But keep watching the US inflation data to catch up the trend of Fed fund rates. If interest rate keep hike, the bitcoin could be fall.

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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