Personal opinions today:

 

The British Prime Minister avoided the impeachment risk and drove the pound to rebound. Although there is still a risk of Brexit in the UK, there are reports show that the British Prime Minister and the EU are discussing an orderly Brexit plan to avoid the UK economy risks before the deadline of January next year, such as the Brexit agreement not approved by the British Parliament. Two major factors, yesterday, boosted the pound.

 

Today, the market is concerned about the release of German and French CPl that inflation data in the afternoon, as well as the Swiss interest rate decision. But the market may be more concerned about the statement of the ECB meeting. Earlier, the European Central Bank said it began to discuss the plan to stop long-term bond purchases and future monetary policy. If the European central bank is planning to end the three-year long-term bond purchase program at the end of December, it may mean that the European economy has left the crisis and entered economic growth. On behalf of the euro, the long-term trend in the future may turn stronger. So at 20:45 tonight, the ECB monetary policy meeting and the ECB president speech at 21:30 in the evening, we will be very concerned it, and we must pay more attention to the volatility of all European currencies. At 22:30 in the evening, the European Central Bank announced macroeconomic expectations about the eurozone, which is very important for European currencies.

 

Today's suggestion:

 

EURUSD

1.1390/1.1420 resistance

1.1335/1.1305 support

Tonight, the European Central Bank has decided to monetary policy. Earlier, the European Commission said it would start to stop the long-term re-financing plan at the end of December, and arrange for a rate hike, which is positive for the euro. Technically, the short-term resistance at 1.3390 in Euro. If the ECB’s comments are positive and boost the euro, there is a breakout the resistance. At present, the first-level resistance is 1.1420 and 1.1440.

 

GBPUSD

1.2645/1.2660 resistance

1.2550/1.2525 support

The British parliament’s impeachment of prime minister was unsuccessful, avoiding British politics risk and boosting the pound. However, the risk of Brexit still concerned in the market, still has the downside risk. Technically, the key resistance of 1.2645 and 1.2660 in short term. Looking down to 1.2550 and 1.2525. Note that the ECB's monetary policy decisions and remarks tonight.

 

USDCHF

0.9890/0.9875 support

0.9950/0.9965 resistance

The political in the UK is tense, and the news has affected the decline of the European currency, indirectly affecting the Swiss franc. However, the performance of the euro is likely to be bullish at present. Technically, the euro was suggested to continue to fall yesterday, and the dollar may touch 0.9950 or 0.9965 against the Swiss franc. Eventually touched. In the next few days, US data performance is expected to fall from last month, the US dollar has a weak chance to fall, and the US dollar may fall against the Swiss franc. Before the ECB monetary policy decisions tonight, also pay attention when The SNB’s interest rate decision in this afternoon as well.

 

USD/JPY

113.55/113.70 resistance

113.15/113.00 support

The short-term US Dow and Nikkei index performance have been limited, and the dollar's further rise in the yen is blocked. Technically, if the US Dow falls again, the USD/JPY may reverse before 114 the key resistance and look down. The market is waiting the performance of the US CPl in the evening. It will indirectly affect the development of the dollar against the yen. The Sino-US trade relationship also affects the stock market and the trend of the United States and Japan, so stay tuned!

 

AUDUSD

0.7245/0.7260 resistance

0.7215/0.7200 support

The Sino-US trade war has eased, and Chinese officials have expressed their willingness to accept the US trade terms. Moreover, the US economic performance began to slow down, the dollar fell, which helped to increase the Australian dollar. Technically, the important resistance of 0.7245/0.7260 resistance in short term. Investors must pay attention to the performance and changes of the US jobless claims report. If the US data is negative, the Australian dollar has the opportunity to test the resistance.

 

NZDUSD

0.6885/0.6905 resistance

0.6840/0.6825 support

The Sino-US trade war has shown signs of easing, positive the New Zealand dollar. But the US economy began to slow down, and the market worried that the dollar would fall. If the US jobless claims data is weak tonight, it will affect the performance of the US dollar. If the New Zealand dollar rises against the US dollar, technically 0.6905 as the first resistance. If the Australian dollar or the renminbi rises, it is believed the New Zealand dollar rise as well.

 

USD/CAD

1.3380/1.3400 resistance

1.3325/1.3310 support

The crude oil price rebounded slightly, which indirectly led to the trend of the Canadian dollar. If the crude oil price rises again, it is expected that the CAD will continue to test the support of 1.3340 or below.

 

EUR/GBP

0.9000/0.8975 support

0.9040/0.9065 resistance

The British parliament impeached the British prime minister unsuccessful, the pound rebounded and the euro fell against the pound. However, the performance of the euro is still stronger than the pound, and the euro has a chance to continue to rise against the pound. Technically, the key resistance is 0.9080 to 0.9105. The Brexit problem made the market unstable and paid attention to market risks.

 

EURCHF

1.1310/1.1335 resistance

1.1270/1.1255 support

In the evening, the European Central Bank will have monetary policy decisions, and the central bank may plan to end the bond purchase plan, which will help boost the euro and boost the euro against the Swiss franc. Before the ECB monetary policy decisions, EURCHF break 1.1280 resistance and go up further. If the European Central Bank brings a positive boost to the euro, the euro has further rise against the Swiss franc.

 

XAUUSD

1249/1251 resistance

1243/1241 support

The British parliament impeached the prime minister unsuccessful, the risk of hedging fell, and the gold fell as well. The US economy is currently expected to be weak in inflation and job data, and the Fed’s rate hike is slowing down and bullish gold. The market is watching the release of US jobless claims data today and retail sales data performance in the tomorrow at evening. If it affects the performance of the US dollar, gold may look forward to resistance of 1249 and 1251 US dollars. It is recommended to pay close attention to the risk of trading.

 

US crude oil futures:

52.65/53.00 resistance

51.15/50.85 support

The OPEC oil group agreed to cut production in January next year, which will help support the development of oil prices above $50. However, market rumors that Iran and other oil-producing countries may have differences, affecting the fall in oil prices. Technically, the current focus on $53 is a short-term important resistance, and the important support is estimated at $50.85.

 

BTCUSD:

3520 / 3750 resistance 

3120/ 2985  support 

US November non farm payroll and average wage compared last month fell, it seems supported bitcoin stables. However, the US Fed could raise the interest rate next week. If Interest rate keep hike, the bitcoin still have a chance fall. Technically, the important resistance at US3750, looking forward to lower US3000.

 

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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