Personal opinions today:

 

The number of private-sector employment in the US fell to 179,000, down from 225,000 last month, and was also lower than the market expectation of 195,000. Factory orders fell sharply and the dollar fell. Moreover, the Sino-US trade war brought uncertainties. The US communications and technology stocks fell, and the Dow once fell more than 700 points. Officials from the Fed said that the pace of interest rate hikes in the coming year may slow down and increase the market investment atmosphere. The Dow regained most of its decline before the market closed, but the dollar continued to fall. The market is waiting the US non-farm payrolls and other job data reports tonight.

 

The market is looking at the US job data report for November. The market believes that non-farm payroll in November may fall from last month to only 190,000 to 200,000. If the US job data in November fell more than expected, the average wage did not increase to more than 0.3%, affecting the Fed's decision to raise interest rates on the 20th this month, the dollar may fall further, gold and silver prices have an opportunity to rise.

 

Today's suggestion:

 

EURUSD 

1.1420/1.1440 resistance

1.1330/1.1310 support

Recently, the European Commission said that it began to study the end of the long-term financing bond purchase plan, and arranged for the next year's interest rate increase plan, which will help the euro. And the Fed’s slowing rate hike news, Euro recorded a rebound. However, the Brexit agreement may fail in the shadow, limiting the increase in Euro. Technical resistance in Euro, is expected to be 1.1420 and 1.1440 resistance range. Finally, depends on the performance of the US job data and wage performance tonight, affecting the US dollar, indirectly affecting the trend of Euro!

 

GBPUSD

1.2815/1.2835 resistance

1.2705/1.2685 support

Although the Fed officials indicated that they intend to slow down the rate hike, the news has cooperated and the pound has recorded a rebound. In addition, the market is worried that the Brexit agreement will not be passed next week, limiting the increase in the pound and continuing to have a downside risk. Short-term attention to the US job data and wages performance tonight, affecting the trend of the pound, it is worthy of attention! Technically, Pound may continue to go down. Brexit is worried about the market and will support 1.2685 or 1.2655. If the US job data is weak tonight, the pound will have a chance to try again near 1.2820. However, the market outlook is still unclear, pay attention to the pound callback.

 

USDCHF 

0.9915/0.9895 support

0.9955/0.9975 resistance

With the EU's plan to end the bond-buying program, Fed officials expressed interest in slowing interest rates and other news to boost the Swiss franc. The number of US job data result tonight will affect the dollar's movements, indirectly affecting the Swiss franc, which is worthy of attention! Technically expected 0.9895 is a short-term important support.

 

USD/JPY

112.30/112.05 support

112.95/113.15 resistance

US ADP and factory orders fell, Sino-US trade relations may be tense, the Dow once fell nearly 800 points, the yen as a safe-haven currency rose, the dollar fell against the yen. USD/JPY has tested 112.55 and 112.35 respectively. Looking at the US job data and wage performance tonight, the short-term stability, but if the US job data performance is weak, affecting the dollar's decline, it is estimated that the dollar against the yen will test 112.20 resistance or below.

 

AUDUSD 

0.7245/0.7265 resistance

0.7215/0.7195 support

A number of important economic data in Australia have been weak recently, and the Reserve Bank of Australia has kept interest rates unchanged, which is negative for the Australian dollar. Coupled with the continued trade turmoil between China and the United States, the Australian dollar has adjusted downward. At present, the market is concerned about the job data and wage performance of the US tonight, which is expected to affect the US dollar and indirectly affect the Australian dollar. Technically, you can refer to the recent 0.7200 important support. If the US job data disappoints the market, the Australian dollar is expected to rebound against the US dollar.

 

NZDUSD 

0.6905/0.6925 resistance

0.6855/0.6840 support

Recently, a number of important economic data in Australia have been weak. The Reserve Bank of Australia has kept interest rates unchanged, which is negative for the Australian dollar and indirectly affects the New Zealand dollar. Coupled with the continued trade turmoil between China and the United States, the New Zealand dollar fell. At present, the market is concerned about the employment and wage performance of the United States tonight, which is expected to affect the trend of the US dollar and indirectly affect the New Zealand dollar. If the US job data disappoints the market, the New Zealand dollar is expected to rebound against the US dollar. Technically, the New Zealand dollar developed 0.6855 support on a 200-hour average, which is close to the support level of 0.6840 earlier, which can be used as a reference.

 

USD/CAD

1.3425/1.3440 resistance

1.3355/1.3340 support

The falling in oil prices has made the Canadian dollar weak. The market is watching the US non-farm payroll and average wage performance tonight. If the data performance disappoints the market, the Canadian dollar has a chance to rebound. The US dollar is adjusted against the Canadian dollar. You can test 1.3355 and 1.3340 support. Technically, the short-term reference to the resistance of 1.3440, if the oil price rises or the US job data is weak, the US dollar against the Canadian dollar has the opportunity to maintain the development below the 1.3440 resistance.

 

EUR/GBP

0.8900/0.8885 support

0.8935/0.8955 resistance

The British Parliament debated the first phase of the draft Brexit agreement and will continue its debate next week. Finally, the British Parliament will vote on December 12. It is still bearish for the pound. If the draft is not expected to pass, the performance of the pound will be weaker. At present, the euro is stronger than the pound, and the euro has a chance to rise against the pound. The technical key support 0.8955 and 0.8885 on the resistance of 0.8955.

 

EURCHF 

1.1325/1.1340 resistance

1.1285/1.2860 support

The market is waiting the number of US non-farm payroll and other US economic data such average hourly wages tonight. European currencies, the euro and the Swiss franc interact with each other. The Swiss franc currently seen is more prominent, and assuming that it is affected by the Brexit impact on the euro. It is recommended to note that the EUR/CHF will approach to the important support of 1.2860.

 

XAUUSD 

1243/1247 resistance

1235/1233 support

Recently, the market expects the British parliament to debate the Brexit agreement, which may eventually fail. The market is worried and assets flow into the gold market to avoid risks and push up gold. Last night, Fed officials said that the pace of interest rate hike may slow down, once again boosting gold, just hit the resistance of $US 1,243. At present, the market is waiting to see the US job market report. Assuming that when it is announced, gold has a chance to fluctuate greatly. Short-term technical attention to the resistance of 1243 and 1247 US dollars, if the normal correction, refer to the support range of 1235 and 1233 US dollars. If it can fall further, it will focus on $1225.

 

US crude oil futures:

52.15/52.55 resistance

50.20/49.40 support

The OPEC agreed to cut production in January next year, but did not announce the volume for the reduction in production, finally the oil price fell. The market has received US President Trump message earlier, he is hoping that maintain production levels and expect oil prices to stabilize at current levels. Assume that oil prices will not be able to break through the resistance of $54 in the short term. Currently, the technical focus 53.75 resistance, the short-term resistance for reference are 52.15 and 52.55 US dollars, down to 50.70 and 50.20 US dollars support. If the US non farm payroll declines more than expected, oil prices may test $50 to $49.40.

 

BTCUSD:

3520 / 3750 resistance 

3120/ 2985  support 

Before FOMC meeting，the market is waiting any US inflation and job data report . Also, the US Fed could raise the interest rate. If Interest rate keep hike, the bitcoin still have a chance fall. Technically, US4050 important resistance move down to US3750. After US3505 support was breakthrough,  it seems the first resistance at this moment.

 

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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