Personal opinions today

 

The euro zone announced the fourth quarter job data and fourth quarter gross domestic product. In addition, the European Central Bank launched new TLTRO immediately, and pointed out that the forecast for the euro zone economic growth this year was reduced from the original 1.6% to 1.2%, the bearish euro, over 1.1265 support The euro fell sharply. Affected by the European Central Bank’s sudden announcement of a new monetary policy, the pound faced negative news and fell. Outside the euro and the pound, the major currencies also fell against the dollar, and the dollar index rose above the 97 level.

 

After the US announced the ADP job data on Wednesday, the US will release other important data tonight, and the market is watching the US non-farm payrolls, unemployment rate and average hourly wage. If the data is not as expected or below market expectations, the US dollar index will have a chance to fall after the data is released. Representatives have the possibility that major currencies will have an opportunity to rise against the dollar and gold prices. Please pay attention to the time of publication of the US job data, and recommend to arrange the position in advance to prevent market fluctuations.

 

Today's suggestion:

 

EURUSD 

1.1220/1.1255 resistance

1.1180/1.1145 support

Last night, the European Central Bank announced a new monetary policy, the euro fell below the support of 1.1265, and continued to fall. Tonight, the US announced its job report for last month, which will likely affect the US dollar significantly, indirectly causing the euro to fluctuate. It is recommended to pay special attention to the results of the US employment data release this evening, the euro fluctuations. Since the European Central Bank news last night, the euro has already fallen. If the US official employment data is not outstanding tonight, the euro has a chance to rise.

 

GBPUSD

1.3120/1.3150 resistance

1.3020/1.2980 support

Last night, the European Central Bank announced a new monetary policy decision, the euro fell, indirectly negative for the pound. Tonight, the US government officially announced the job report for last month, which will probably affect the US dollar significantly, indirectly causing the pound to fluctuate. It is recommended that special attention be paid to the results of the US job data release this evening. In addition, the market now facing the Brexit vote next Tuesday, the bearish pound. The current news means that British parliamentarians continue to oppose the proposed amendments proposed by the British Prime Minister, and the pound continues to face downside risks. If the British Prime Minister and the European Commission discuss the extension of the Brexit deadline, the news will affect the pound's further decline.

 

USDCHF 

1.0125/1.0145 resistance

1.0085/1.0065 support

After the European Central Bank's interest rate decision, the Swiss franc, which is closely related to the euro, was affected by the fall of the euro, and the Swiss franc also fell. In addition, it is more important to pay special attention to the results of the job data released in this evening. The performance of the data directly affects the US dollar and drives the Swiss franc to fluctuate. Please note that trading risk technically, the US dollar against the Swiss franc has the opportunity to test resistance of 1.0125 or 1.0145, reference support 1.0085 or 1.0065.

 

USDJPY

111.95/112.15 resistance

111.45/111.25 support

Recently, the market waited for US job data. The US Dow and the Japanese Nikkei index showed adjustments, and the US dollar weakened against the yen. Technically, the USDJPY has tested 111.45 support. The US official job data for tonight are announced tonight, It is recommended to keep an eye on global stock market changes, especially the US Dow and Japan's Nikkei are changing, judging market sentiment and the trend of the US dollar against the yen.

 

AUDUSD 

0.7005/0.6980 support

0.7065/0.7080 resistance

Australia announced a slowdown in GDP in the fourth quarter, and the data was negative for the Australian dollar. The market is paying close attention to the Sino-US trade wars. At present, the US president’s remarks bring uncertainties, and the Australian dollar is weak against the US dollar. Technically, 0.7050 supports the fall, and the trend is weak. It may test 0.7005 and 0.6980 important support, which is worthy of attention.

 

NZDUSD 

0.6745/0.6725 support

0.6790/0.6815 resistance

At present, the market is paying close attention to the development of Sino-US trade wars. If any good news reappears, it is expected to boost the New Zealand dollar. In the short-term technical, attention to 0.6725 support can be used as important support for reference.

 

USDCAD

1.3475/1.3490 resistance

1.3385/1.3370 support

A few days ago, the US API and EIA reported, the crude oil inventories increased significantly. Next, the Bank of Canada  interest rate decision kept the loose monetary policy, which negative Canadian dollar. The market is paying attention to the performance of Canada's job data tonight, and compared with the US non-farm payrolls data, it may affect the development of the US dollar against the Canadian dollar in the short term. In addition, US job data may affect crude oil price volatility, and if crude oil prices rise sharply, it will help boost the Canadian dollar.

 

EURGBP

0.8570/0.8600 resistance

0.8525/0.8500 support

The European Central Bank’s new monetary policy has affected the euro’s decline. Technically, the euro fell below the 0.8560 support against the pound. However, next week's British Parliament's uncertainty on the Brexit vote and the uncertainty of the Brexit deadline, the pound has a chance to fall, which will increase the EURGBP. It is recommended that the Brexit news dominates the trend of the pound and affects the EURGBP. In addition, the results of the US job data tonight announced that the market is concerned about the impact on the euro. When investing in the EURGBP, it must pay attention to large fluctuations.

 

EURCHF 

1.1340/1.1360 resistance

1.1305/1.1280 support

After the announcement of the ECB's interest rate decision last night, the euro fell sharply, the Swiss franc was more stable, the euro had a chance to adjust against the Swiss franc, and the test was supported by 1.1345 or 1.1330. The market is waiting to see the results of the US job data, which may continue to affect the trend of the euro, while affecting the fluctuation of the EURCHF.

 

XAUUSD 

1290/1293 resistance

1283/1280 support

If the US officially announces the job data tonight, the job data report will be bearish XAU if the market is satisfied. On the other hand, the market is not expected to end the Sino-US trade war at the end of this month, and the risk sentiment will increase. It is expected that the low price of gold will be supported at 1,283 and 1,280 dollars, and there is a rise in breakthrough resistance. At present, we are paying close attention to the non-farm payrolls, unemployment rate and average wage, and determine the trend of gold. Current resistance is referenced at $1290 and $1,293. Support is  1283 or 1280.

 

US crude oil futures:

57.05/57.40 resistance

55.80/55.55 support

A few days ago, the US API and ElA crude oil inventories shown increased significantly, and crude oil futures prices were face a downside risk. However, the market is concerned that the US official job market report tonight and the previous Federal Reserve issued a report on the economic status of the Beige Book, which is expected to boost crude oil prices. Technically, continue to pay attention to 55.80 and 55.55 support, with important support at $55. If the crude oil price stays above $55 in the short term, the trend is still expected to test the resistance of 57.05 and 57.40.

 

US Dow Jones Industrial Index Futures US30

25555/25720 resistance

25160/24480 support

The market is watching the US official job data tonight, so the US Dow has recently adjusted. In addition, there are reports that US President Trump may not be considered to sign trade agreements with China at the end of the month, end the trade war, change investment sentiment, and bear negative stock market performance. Technically, the US Dow is adjusting its cycle and has fallen below the 25,620 and 25,530 support levels previously calculated. If the US job data is good and boosts the stock market, then there is no need to look at 25160 or 24480 support.

 

BTCUSD:

3680  / 3520 support

3925 / 4050 resistance 

The market is waiting the US job data, the price may be staying back a bit. If USD strengthen Bitcoin weakness. If the dollar depreciation that will be pushed up the price of bitcoin.

 

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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