ATFX Market Update - 2019.12.31

ATFX

Publish date: Tue, 31 Dec 2019, 11:30 AM

Personal opinions today:

Europe countries were closed or closed early today. If nothing important happens, the market range trading. But with funds settle on the last day of the year, commodity prices such as gold and crude oil are also likely to be volatile.

The global trading market will be closed tomorrow for the New Year holiday. Happy New Year! Happy New Year!

[Important financial data and events] note: * is important

22:00 U.S. FHFA house price index **

22:00 U.S. index of 20 major cities *

23:00 U.S. CB consumer confidence index **

The next day 05:30 U.S. API crude oil stocks change ***

EURUSD

1.1215/1.1225 resistance

1.1190/1.1180 support

Before the end of the year, some financial institutions adjust position. Dow futures and the dollar continued to adjust, the Euro covered short positions, the Euro rose, breaking through a two-week high of 1.1197, now technically bullish Euro. If U.S. markets and U.S. data only match expectations today, there is an opportunity to be bearish on the Euro. Technical analysis estimates that the Euro adjustment is expected to test either 1.1190 or 1.1180 support.

Pound to dollar

1.3135/1.3145 resistance

1.3060/1.3050 support

Approaching the New Year holiday and the end of the year portfolio adjustment, the short position covered pound, and rebound. Technically, 38.2% rebound from a mid-month high of 1.3520 and a one-week ago low of 1.2904 was 1.3137, a key technical resistance. But investors remain cautious about Brexit by the end of January. With the UK economy still in limpid shape, there is a chance of limiting gains to 1.3137 headwinds. For now, investors remain on the sidelines, with the pound likely to test 1.3060 or 1.3050 support.

Australian dollar to dollar

0.7010/0.7020 resistance

0.6985/0.6975 support

The Australian dollar rebounded to a four-month high on expectations of rising consumer confidence ahead of the end of the year and rising manufacturing and demand for base industrial metals. In addition, the U.S. dollar adjustment, to support the Australian dollar. But watch U.S. December PMI and other U.S. data performance and expectations for other U.S. data this week, which have an opportunity to bearish the the Australian dollar.

Dollar to yen

109.05/109.15 resistance

108.50/108.40 support

Before the New Year holiday, some funds settled before the end of the year, money into the yen, the dollar against the yen to test the low. The Dow fell last night, driving safe-haven gold into the yen. The dollar fell against the yen, breaking through 109. If Dow futures rebound before the close, the USDJPY will recover 109 to try 109.15 to 109.40.

USDCAD

1.3095/1.3105 resistance

1.3040/1.3030 support

U.S. and Canada trade deal to be finalized soon, the Canadian dollar. In addition, the U.S. dollar is testing an October low of $1.3040 against the Canadian dollar as crude oil prices continue to rise and global economic optimism and easing trade sentiment favor Canadian exports. This location is the reference for the current key support bit. Watch crude oil price adjustment, impact of the Canadian dollar fell.

US crude oil futures

61.85/62.05 resistance

61.05/60.85 support

Yesterday, U.S. crude oil futures tested 62.05 resistance and finally hit a high of 62.30 before reversing to below $62 after the close in Europe. Unable to break through for the time being, we expect technical resistance of $63.80. But close to the holiday, pay attention to the oil price adjustment. 62.05 resistance is the key resistance at present.

Gold

1524/1526 resistance

1518/1516 support

Gold continued its rally, breaking through $1, 516. Among them may be the United States and north Korea relations tensions and some fund portfolio allocation, to guard against stock market downside risk.

U.S. Dow Jones industrial average futures US30

28680/28745 resistance

28360/28280 support

The market priced in a first-phase trade deal between the U.S. and China, and the Dow failed to maintain its upward momentum before the year-end settlement and adjusted. Note that the investment market profits, bring Dow adjustment risk continued today.

BTCUSD:

7550 / 7775 resistance

6955 / 6800 support

The federal reserve announced the suspension of interest rate cuts, could bearish for Bitcoin price. However, Brexit may lead the market risk on, also concern the Dow future fall, bullish the bitcoin price in short terms. Technically, the bitcoin’s trend seem downward.

Enjoy trading! The content is for reference only. Please do ensure that you understand the risk.

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