Highlights

ATFX News Update_Martin

Author: AFTX   |   Latest post: Tue, 7 Apr 2020, 11:36 AM

 

ATFX Market Update - 2020.04.07

Author: AFTX   |  Publish date: Tue, 7 Apr 2020, 11:36 AM


ATFX-A Global Leader in Online Trading
ATFX Market Outlook, 2020 April 7
 
Personal opinions today: 
 
OPEC and other oil producers discuss further cutting production and stabilizing prices as part of an expiring agreement. After last week's discussion, the next meeting was postponed to Thursday. Last night, some producers were willing to accept a collective agreement to cut output, but the Russian government accepted only the original plan. Separately, Saudi Arabia's oil producers are taking a tough line to force the United States into a membership agreement to cut output. Oil producers in Saudi Arabia delayed the release of crude prices of May until after Thursday's meeting, limited the crude oil future price at $28.
 
Crude oil futures prices rose amid talk that OPEC and other oil producers could eventually reach an agreement to cut output, helping to stave off the risk of oil companies defaulting or going bankrupt and bullish global stocks. Yesterday, the Dow futures index closed up 1627 points. But some of the money has flowed into the gold market because of U.S. fiscal and Treasury risks. Separately, gold and silver prices rose to near three-week highs ahead of the RBA’s decision on interest rates and an emergency meeting of Eurozone finance ministers. Gold rose above $1,644.6 to a high of nearly $1,674 and silver as high as $15.53.
 
Market forecasts for German industrial output for February, France trade figures for March and UK Halifax house price index for March were weaker than the previous month. The Euro was limited to gains of 1.0830 last night. In addition, the British prime minister infected with COVID - 19 appeared to be in critical condition, bearish pound, GBPUSD fells 100 points, as low as 1.2170. The above factors were bearish for the European currency yesterday. If the number of new confirmed cases of COVID 19 in Europe and the United States drops, it is believed that the European currency is expected to stabilize or rebound today.
 
[Important financial data and events to watch]
Note: * denotes importance
 
Eurozone finance ministers to hold an emergency meeting
Eurogroup video conference to be held * *
12:30 RBA releases monetary decision * * *
14:00 German industrial output in February * *
14:45 France trade account in March * *
15:30 UK Halifax house price index in March * *
1730 RBA President speech * * *
22:00 Canada Ivey PMI in March * *
22:00 US JOLTS job openings in February * *
24:00 EIA releases monthly short-term energy outlook * *
 
EURUSD
1.0860/1.0885 resistance
1.0770/1.0755 support
Eurozone economic data for March are expected to be weak due to the impact of the coronavirus pandemic. Eurozone and German data released today, investors expect weak, bearish Euro. On using of 4 - hour chart with technical analysis, the Euro extended its decline against the dollar, currently below 1.0830. If it fails to recover, it will remain at 1.0770 or 1.0715. If break 1.0830, look up at 1.0860 or 1.0885 resistance.
 
The pound to the dollar
1.2305/1.2320 resistance
1.2195/1.2180 support
Weak data in the Eurozone and the United Kingdom, the lack of significant signs of a decline in the outbreak in Europe, a bearish for pound. Combined with the British prime minister's infection with COVID - 19, the situation is in critical condition, further unnerved investors, the pound has fallen against the dollar. Technically, GBPUSD references resistance to 1.2305 and 1.2320 range. Believe in the fundamentals of the dominant, pound trend still continue to look down, 1.2195 or 1.2180 as reference support.
 
Australian dollar/US dollar
0.6125/0.6140 resistance
0.6075/0.6060 support
Australian inflation rose on a monthly basis in March, while the Australian dollar rose early in Asia and indirectly bullish the New Zealand dollar. The RBA raised interest rates today as investors saw little impact on the economy and labor market from the outbreak in Australia, with March job data still flat. Trust the RBA to keep monetary policy unchanged, New Zealand will not change monetary policy, to boost the Australian and New Zealand dollars. However, investors remained on the sidelines of the RBA’s monetary policy outlook after the policy meeting, and investors should watch for changes in the Australian and New Zealand dollars.
 
Dollar to Japanese yen
109.20/109.35 resistance
108.70/108.55 support
Dow futures and the Nikkei index rose, leading the dollar higher against the yen. Investors should continue to look to Dow futures and the Nikkei to catch the dollar rising and falling against the yen. Technically, keep an eye on USDJPY, 109.35 as reference resistance. If Dow futures and Nikkei fall, look for firstly support levels of 108.70 and 108.55. If big movement in Dow futures and the Nikkei, the references resistance and support levels would breakthrough.
 
US dollar/Canadian dollar
1.4175/1.4190 resistance
1.4065/1.4050 support level
Crude oil futures price fluctuations, indirect impact on the Canadian dollar. Technically, the USDCAD traded between the 1.40 and 1.43 levels. Any good news from OPEC would push the Canadian dollar higher. But Saudi Arabia's producers remain divided over U.S. participation in the deal and the meeting has been postponed until Thursday. In the short term crude oil future prices may adjust to declining, the USDCAD has an opportunity to test the 1.41 or 1.42 level.
 
US crude oil futures
28.55/28.85 resistance
25.40/25.10 support
The OPEC is discussing production cuts and price agreements with other oil producers has sparked a sharp rally in crude oil future prices, with U.S. crude oil futures trading above $29. But now that OPEC is postponing the meeting, it is believed that U.S. crude futures prices could adjust without any good news. Conservative estimates suggest US crude oil futures price could fall to $25 or $24.
 
Spot gold
1674/1676 resistance
1645/1642 support
Speculators took advantage of weak U.S. jobs data to push up gold and silver prices. Separately, gold and silver prices were pushed higher ahead of the RBA’s decision on interest rates and an emergency meeting of Eurozone finance ministers. If gold fails to break through $1676 resistance, the rally could slow. Keep an eye on the silver price trend, it would continue to follow the gold price.
 
Dow Jones industrial average futures US30
23140/23490 resistance
22245/21800 support
U.S. manufacturing and non-manufacturing PMI beat expectations in March, and Dow futures rebounded. On top of that, Dow futures rallied more than 1,000 points as investors saw a slight easing of the U.S. pneumonia outbreak and hopes for an agreement at a meeting of oil-exporting countries. In the afternoon, investors think there is no light at the end of the tunnel on the pneumonia outbreak, the U.S. Easter holiday approaching, investors may make adjustments to stock trading arrangements. If the adjusted wave estimation is used, the important support is at 21800 and the important resistance is at 23490.
 
BTCUSD:
7560/ 7800 resistance
6850 / 6700 support 
As mentioned here before, the federal reserve launches No limited QE program. Technically, the bitcoin price would rebound. The bitcoin price is looking for $7000 resistance. If break $7000, the bitcoin price would test $7230 or approach to $10,000. Earlier today, the bitcoin broke $7230. The next target would be $7800 resistance, then the further target at $10,000.
 
Enjoy trading! The content is for reference only. Please do ensure that you understand the risk.
 
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
 
Legal: AT Global Markets Limited (ATGM, registration number 24226 IBC 2017). ATGM is an International Business Company in Saint Vincent and the Grenadines.

 

  Be the first to like this.
 

ATFX Market Update - 2020.04.06

Author: AFTX   |  Publish date: Mon, 6 Apr 2020, 11:25 AM


ATFX-A Global Leader in Online Trading
ATFX Market Outlook, 2020 April 6
 
Personal opinions today: 
 
US non-farm payrolls fell sharply in March, shedding 700,000 people and pushing the unemployment rate to 4.4%. The jobless claims jumped to a record high in the last two weeks, with the market already digesting the non-farm payrolls and not surprised investors. The U.S. dollar index rose to 100.84 after the ISM manufacturing and non-manufacturing PMI beat market expectations in March, adding to investors' confidence in dollar assets. European and commodity currencies are downward. Later, Dow futures took advantage of U.S. data to beat expectations and the U.S. President's meeting with Russia and OPEC to discuss cutting output. Crude oil prices rose, driving U.S. Dow futures higher. Dow futures rose further after the Asian session opened, sending Asian stocks higher and limiting gold's gains today.
 
[Important financial data and events to watch]
Note: * denotes importance
 
14:00 German manufacturing orders in February *
15:00 German construction PMI in March* * *
16:30 Eurozone Sentix investor confidence index for April **
16:30 UK construction PMI in March* * *
22:00 US CB employment trends index for March * *
 
EURUSD
1.0860/1.0885 resistance
1.0770/1.0755 support
Eurozone economic data for March are expected to be weak due to the impact of the coronavirus pandemic. Eurozone and German data released today are expected to be weak and bearish for the Euro. On the 4 - hour chart technical analysis, the Euro extended its decline against the dollar, currently below 1.0830. If not recovered, it will look down 1.0770 and next-level support 1.0715. If break 1.0830, look up at 1.0860 or 1.0885 resistance.
 
The pound to the dollar
1.2290/1.2305 resistance
1.2195/1.2180 support
Eurozone and UK data were weak and the pound fell against the dollar. Technically, the resistance of pound to the dollar fell to 1.2305, believing that fundamentals are the dominant trend in the pound, any weak data in the European region, if disappointed market expectations, the pound may be looking at 1.2195 or 1.2180 support. Reference resistance levels 1.2290 and 1.2305.
 
Australian dollar/US dollar
0.6050/0.6065 resistance
0.5985/0.5975 support
Australia inflation rose on a monthly basis in March, while the Australian dollar rose early in Asia and indirectly boosted the New Zealand dollar. But the Australian dollar was limited ahead of tomorrow's RBA meeting. Believe before the policy, the Australian and New Zealand dollars remain in a tight range, waiting for the outcome of the policy and monetary policy.
 
Dollar to Japanese yen
109.10/109.25 resistance
108.35/108.15 support
Dow futures and the Nikkei tend to lead dollar-yen movements and volatility. Investors can look to Dow futures and the Nikkei to catch the dollar's rise against the yen. Technically, keep an eye on USDJPY with the 109.10 and 109.25 resistance levels. Dow futures and the Nikkei fell, looking down on the first support levels of 108.35 and 108.15.
 
US dollar/Canadian dollar
1.4275/1.4290 resistance
1.4165/1.4150 support level
The price of crude oil fluctuates recently, affect the Canadian dollar trend indirectly. Technically, the U.S. dollar is trading between $1.40 and $1.43 against the Canadian dollar. Markets focused on the United States, Russia, and OPEC negotiations. The meeting has been postponed to Thursday because of continuing differences in positions. With crude oil prices expected to adjust lower in the short term, the USDCAD could test resistance at $1.4275 or $1.4290.
 
US crude oil futures
27.85/28.05 resistance
25.05/24.85 support
Last week, the presidents of Russia and the United States discussed stabilizing oil prices. In addition, over the weekend, the two countries were discussing an agreement with OPEC to cut oil output and cut prices. Oil prices had rebounded sharply on the news, with U.S. crude oil futures trading as high as $29 above the $27 initial target of this analysis. But now that OPEC has postponed its meeting, US crude oil futures are likely to fall ahead of any good news. Conservative estimates put the price down to $25 or $24.
 
Spot gold
1620/1623 resistance
1608/1605 support
Speculators took advantage of weak U.S. jobs data to push up gold and silver prices. He believes the rally in gold and silver prices could slow or reverse, thanks to steady U.S. manufacturing and non-manufacturing PMI. Technically pay attention to 1620 and 1623 resistance. If Dow futures continue to rise, spot gold could test $1,600. Initial target, 1608 or 1605 support.
 
Dow Jones industrial average futures US30
21950/22140 resistance
21295/21075 support
U.S. nonfarm payroll in March fell, bearish Dow futures. But manufacturing and non-manufacturing PMI beat expectations in March, and Dow futures rebounded from their lows. If the adjusted wave estimation is used, the support is at 21295 and the resistance is at 21950 or 22140.
 
BTCUSD:
7000/ 7230 resistance
6050 / 5800 support 
The federal reserve launches No limited QE program. Technically, the bitcoin price would rebound. The bitcoin price is looking for $7000 resistance. If it breaks $7000, the bitcoin price would test $7230 or approach to $10,000.
 
Enjoy trading! The content is for reference only. Please do ensure that you understand the risk.
 
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
 
Legal: AT Global Markets Limited (ATGM, registration number 24226 IBC 2017). ATGM is an International Business Company in Saint Vincent and the Grenadines.
 
  Be the first to like this.
 

ATFX Market Update - 2020.04.03

Author: AFTX   |  Publish date: Fri, 3 Apr 2020, 11:16 AM


ATFX-A Global Leader in Online Trading
ATFX Market Outlook, 2020 April 3
 
Personal opinions today: 
 
US initial jobless claims rose to 6.64 million last week from 3.3 million in the previous week. After the data, the Dow futures had jumped, because investors had already priced in before the announcement. However, in the face of the outbreak in the United States, business activity is facing a slowdown, the number of jobs and layoffs rose. The U.S. nonfarm payroll and the unemployment rate are likely to be over market expectations tonight, and it will be limited Dow futures gains. If Dow futures and the dollar fall, expect gold and silver prices to rise, the Japanese yen to become a safe haven and the USDJPY fall again.
 
Crude oil demand slowdown in the face of the global economic crisis. The United States and Russia Presidents agreed to cut output and were in talks with Saudi Arabia's oil group to cut output and keep prices stable. Crude Oil’s future for May delivery in the United States rose to a 20-day moving average of $27 after the news was confirmed, followed by profit unwinding before the European market close, as crude oil prices fell.
 
Today focus on the final reading of Europe's services PMI for March and Eurozone retail sales for February. Investors have expected which is weak data, with short Euro’s positions dominating the market. Investors also priced in weak U.S. jobs data tonight, which was bearish on Dow futures and global stocks in the short term, and bearish on the dollar. If the dollar fell, would be bullish on gold, silver price and the yen in the face of rising risk aversion, but bearish on crude oil.
 
[Important financial data and events to watch]
Note: * denotes importance
 
09:45 China's Caixin services PMI **
15:50 French services PMI final * *
15:55 German services PMI final * *
16:00 Eurozone services PMI final **
16:30 UK services PMI **
17:00 Eurozone retail sales ***
20:30 US unemployment rate * * *
20:30 US non-farm payrolls * * *
21:45 US Markit final services PMI * *
22:00 US ISM non-manufacturing PMI * * *
 
EURUSD
1.0875/1.0890 resistance
1.0820/1.0805 support
Economic data in Europe in March will be affected by the pandemic, with weak economic performance. Europe's final services PMI for March and Eurozone retail sales for February. The Euro fell as investors prepared ahead of the weak data. The Euro is expected to rise against the dollar after European data and the release of U.S. non-farm job data tonight. Technical analysis, 1.0820 or 1.0805 support, 20-hour average line resistance and rebound wave 23.6% resistance to 1.0875 and 1.0890.
 
GBPUSD 
1.2440/1.2460 resistance
1.2320/1.2305 support
Eurozone and UK data were weak, with pound limited to a range of $1.2440 to $1.2460 resistance. Technically, GBPUSD resistance was reduced to 1.2460, from the fundamentals of the dominant trend, advised to watch tonight's US non-farm payroll results. If the U.S. jobs data is weaker than expected, the pound could see resistance at $1.2440 or $1.2460. The pound is expected to test support against the dollar ahead of Eurozone and UK data in the afternoon.
 
Australian dollar/US dollar
0.6090/0.6105 resistance
0.6030/0.6015 support
Investors are anticipating a rise in U.S. non-farm payrolls and the unemployment rate in March tonight. They expect the Australian dollar to still be up against the U.S. dollar ahead of the U.S. data. In addition, the RBA will have an interest rate decision meeting next Tuesday, and investors may avoid buying the Australian dollar ahead of its policy meeting. Believe that the Australian and New Zealand dollars to maintain the range.
 
Dollar to Japanese yen
108.25/108.40 resistance
107.35/107.15 support
Dow futures and the Nikkei tend to lead dollar-yen movements and volatility. Investors can look to Dow futures and the Nikkei to catch the dollar's rise against the yen. Technically, the first support target is 106.40 if the dollar/yen correction in March is calculated at 50%. If U.S. data is very weak, U.S. jobs data will fall much more than expected tonight, dow futures and the dollar will extend their losses, and the dollar could test the aforementioned 106.40 support level against the yen. But for now, watch for 107.35 and 107.15 support.
 
US dollar/Canadian dollar
1.4255/1.4275 resistance
1.4065/1.4050 support level
Crude oil prices rose and fell, indirectly affecting the performance of the Canadian dollar. In this case, USDCAD continued to trade ranging between the 1.40 level and the 1.42 level. In addition, the U.S. data will also affect the U.S. dollar against the Canadian dollar. Believe the USDCAD could test the 1.40 level ahead of the US non-farm payroll for March due tonight. But a subsequent drop in oil prices could send the U.S. dollar higher against the Canadian dollar.
 
US oil futures
24.95/25.35 resistance
21.05/20.65 support
As the global economy slows, demand for crude oil is slowing. The presidents of Russia and the United States have held talks on stabilizing oil prices, stressing the need to keep prices above $20. Believe that US oil future prices continue to maintain an important support level of $20. In the afternoon, the market continued to watch for oil group news, lifting U.S. oil futures, with an initial target of $26 - $27.
 
Gold
1620/1623 resistance
1583/1580 support
Gold and silver prices rose in recent days, as expected by this analysis, on expectations of weak data in Europe and the United States, as countries continued to expand in volume. Technically, gold has rebounded sharply after hitting $1,567, with large institutional investors buying gold at $1,580 and below, looking for the first level of resistance at $1,600 and above the first significant resistance at $1,613. The rally slowed after last night's high of $1,617. As has been the case in the past, speculators used expectations of U.S. jobs data to push up the gold and silver prices. Gold and silver prices are believed to have formally slowed in the wake of tonight's US non-farm payroll or US non-manufacturing PMI, with the recent rally likely to reverse.
 
Dow Jones industrial average futures US30
21485/21610 resistance
20755/20645 support
U.S. non-farm payrolls and non-manufacturing PMI in March release tonight are worth noting as expectations for the data are weak and Dow futures are expected to test lows first. If the golden rate estimation, the support is at 20755 and reference last week lowest 20645.
 
BTCUSD:
7000/ 7230 resistance
5650 / 5500 support 
The federal reserve launches No limited QE program. Technically, the bitcoin price would rebound. The bitcoin price is looking for $7000 resistance. If it breaks $7000, the bitcoin price would test $7230 or approach to $10,000.
 
Enjoy trading! The content is for reference only. Please do ensure that you understand the risk.
 
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
 
Legal: AT Global Markets Limited (ATGM, registration number 24226 IBC 2017). ATGM is an International Business Company in Saint Vincent and the Grenadines.

 

  Be the first to like this.
 

ATFX Market Update - 2020.04.02

Author: AFTX   |  Publish date: Thu, 2 Apr 2020, 11:35 AM


ATFX-A Global Leader in Online Trading
ATFX Market Outlook, 2020 April 2
 
Personal opinions today: 
 
The COVID 19 infections in Europe and the United States, the number has risen sharply. The United States surpassing the world becomes the top number of cases. The outbreak has unnerved the global economy, with U.S. Dow futures down over 1,000 points to as low as 20,796 last night. The decline eased before the close, but it was still down 976 points from the previous close. Stocks fell in Europe and the United States, while gold and silver price rose. The global economy, though, has been hit by the outbreak and demand for oil has slowed. Saudi oil producers are intent on increasing output and maintaining a price war, but the presidents of Russia and the United States have spoken on the phone in anticipation of the two countries working together to reduce production and stabilize prices. With the price of crude falling to the cost of Russian producers, the Russian President said he was willing to discuss cutting production with local producers. U.S. oil futures rose from below $20 to $21.5 after the confirmation but still failed to break above the previous high of $22. Believe that if more oil producers are willing to cut production, crude prices could rise.
 
Today's biggest focus was on U.S. job data, the US companies’ layoffs number in March and jobless claims change. If layoffs and job losses continue to rise, short-term bearish Dow futures and global stocks. Risk-off factors, gold, silver prices, and the Japanese yen, but bearish crude oil prices.
 
[Important financial data and events to watch]
Note: * denotes importance
 
14:00 Nationwide house price index in March **
14:39 Swiss CPI in March* *
17:00 Eurozone PPI in February**
19:30 US Challenger companies layoffs in March * * *
20:30 US trade account in February *
20:30 US jobless claims change* * *
22:00 US factory orders in February * *
 
EURUSD
1.0970/1.0985 resistance
1.0925/1.0905 support
Eurozone and Germany Manufacturing PMI fell slightly in March, bearish for the Euro. The Euro fell as low as 1.0905 to the dollar after U.S. data showed the ADP payrolls fell less than expected in March. Ahead of tonight's report on U.S. initial jobless claims, the dollar is expected to narrow gains, with the Euro on track for 50% or 61.8% of a tentative correction at 1.0970 and 1.0985 resistance levels, respectively.
 
The pound to the dollar
1.2440/1.2460 resistance
1.2320/1.2305 support
U.S. data showing ADP payroll fell less than expected in March bullish the dollar. In addition, Eurozone and UK data are still weak, limited the pound to the dollar gains. Technical resistance to the dollar fell to 1.2460. But fundamentals lead the trend, with advice on U.S. jobless claims. Believe before the announcement, the GBPUSD is expected to test the 1.2440 or 1.2460 resistance level.
 
Australian dollar/US dollar
0.6170/0.6185 resistance
0.6050/0.6035 support
The AUDUSD fell to a low of 0.6035 last night as the U.S. manufacturing PMI and ADP payroll better than expected. The Australian dollar is expected to rise against the U.S. dollar before the U.S. initial jobless claims data, but whether it can test the resistance of 0.6170 or 0.6185 depends on the U.S. data and the dollar's decline.
 
Dollar to Japanese yen
107.75/107.90 resistance
107.05/106.90 support
Dow futures and the Nikkei tend always to lead the dollar-yen movements and volatility. Yesterday, when Dow futures fell and the Nikkei fell together, the dollar-yen test the 107 level, falling as low as 106.90. Technically, if we calculate the USDJPY correction range of 50% in March, the first support level target is 106.40 and the next level is 105.20. If U.S. job data is weak tonight, Dow futures fall and the dollar's losses widen, the dollar-yen could test the above support level.
 
US dollar/Canadian dollar
1.4255/1.4275 resistance
1.4145/1.4125 support level
The crude oil prices, indirect impact on the performance of the Canadian dollar. In this case, USDCAD continued to trade between the 1.40 level and the 1.42 level. In addition, the U.S. data will also affect the U.S. dollar to the Canadian dollar. Believe the next test of support at 1.4145 or 1.4125 could come tonight ahead of the US initial jobless claims data.
 
US crude oil futures
21.90/22.20 resistance
19.95/19.65 support
As the global economy slows, demand for crude oil is slowing. Saudi oil producers continued to sell crude at reduced prices and announced an increase in output. It is believed that US crude oil prices will continue to be limited to a significant $25 resistance range. The global outbreak has not seen improvement, It would continue to bearish crude oil prices. Technically, watch out for wave resistance at $21.90 and $22.20, respectively. Initial key support at $19.95 and $19.65.
 
Gold
1610/1613 resistance
1575/1573 support
It is estimated that if investors expect weak data in Europe and the United States and economic slowdown, watch for gold and silver prices could rise. Technically, the gold price has rebounded sharply after hitting $1,567 then hit the first level of resistance at $1,600. Most of the trade positions seem to trade between $1570 to $1600. If break the resistance, it could see the first significant resistance at $1,613.
 
Dow Jones industrial average futures US30
21300/21485 resistance
20755/20435 support
Dow futures continued to fall as investors downplayed the outlook for the economy and corporate earnings amid a pandemic spreads in the US. Believe if Dow futures short-term rebound, strength, and expansion are limited. Note tonight's U.S. data on the number of jobless claims. If the data beats expectations, Dow futures could extend the rally. If the adjusted wave is used to estimate, the support level is 20755 and 20435 respectively.
 
BTCUSD:
6800/ 7000 resistance
5700 / 5550 support 
The federal reserve launches No limited QE program. Technically, the bitcoin price would rebound. The bitcoin price is looking for $6800 or $7000 resistance. If the price breaks $7000, the bitcoin price would test $10,000.
 
Enjoy trading! The content is for reference only. Please do ensure that you understand the risk.
 
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
 
Legal: AT Global Markets Limited (ATGM, registration number 24226 IBC 2017). ATGM is an International Business Company in Saint Vincent and the Grenadines.

 

  Be the first to like this.
 

ATFX Market Update - 2020.04.01

Author: AFTX   |  Publish date: Wed, 1 Apr 2020, 8:07 PM


ATFX-A Global Leader in Online Trading
ATFX Market Outlook, 2020 April 1
 
Personal opinions today: 
 
Last night, the Chicago PMI and the consumer confidence index fell, adding to expectations of a weak US ADP payroll and the US Markit and ISM Manufacturing PMI final . Dow futures, the dollar index, and crude oil prices fell. Today, the market will be watching U.S. ADP payrolls for March as a guide to nonfarm payroll expectations and an assessment of the U.S. unemployment rate, which would affect the dollar, Dow futures, and crude oil prices over the next two days.
 
In Europe today, the focus will be on German retail sales in February, the German and Eurozone Manufacturing PMI for March and the Eurozone unemployment rate for February. The consensus data forecast was lower on expectations that Europe would be affected by the coronavirus outbreak, and it is believed that limiting the rise of European currencies is likely to be bearish ahead of the release of European data. Separately, when U.S. markets open, keep an eye on U.S. ADP payrolls and the Manufacturing PMI for March. Depending on the extent of the weak data, the direct negative dollar index and the U.S. Dow futures range. Keep in mind that if the U.S. data is weak, European currencies, commodity currencies, and gold and silver prices will have a chance to ride the wave. U.S. futures and delivery prices are likely to fall, and U.S. crude oil futures could test significant support levels of $19 to $18.
 
[Important financial data and events to watch]
Note: * denotes importance
 
09:45 China Caixin Manufacturing PMI in March **
14:00 Germany retail sales in February* *
15:30 Swiss PMI in March * *
15:50 French Manufacturing PMI for March* *
15:55 German Manufacturing PMI final in March * * *
16:00 Eurozone Manufacturing PMI final in March ***
16:30 UK Manufacturing PMI for March ***
17:00 Eurozone unemployment rate in February **
20:15 US ADP payroll * * *
21:45 US Markit manufacturing PMI final * * *
22:00 US ISM manufacturing PMI * * *
22:30 US EIA crude oil inventory change * *
 
EURUSD
1.1055/1.1070 resistance
1.0950/1.0925 support
Investors are betting that European economic data in March will be hit by a pandemic, with weak economic and data. Weak European data is expected to weigh on the Euro today. The Euro was seen in the 4-hour chart, with important support at 1.0950 and 1.0925, and resistance at 1.1055 and 1.1070. If EURUSD breaks through resistance, it could extend its gains against the dollar, test the 1.11 level.
 
The pound to dollar
1.2460/1.2485 resistance
1.2285/1.2265 support
Eurozone and UK data were expected to weaken, with pound would test $1.2285 or $1.2265 support. Investors are expected to wait for U.S. ADP payrolls after European markets today. Believe in the bearish dollar, would see the pound upward. Technically, the resistance range of 1.2460 or 1.2485 is expected to be tested.
 
Australian dollar/US dollar
0.6185/0.6200 resistance
0.6095/0.6075 support
Today, China Caixin manufacturing PMI for march rose in line with yesterday's official manufacturing PMI, while the Australian dollar remained at 0.61 against the U.S. dollar, more bullish. It is believed that investors expect the weak PMI and job data released in the United States tonight, which could benefit from the US dollar's decline and the Australian dollar's upward tentative rebound.
 
Dollar to yen
108.05/108.25 resistance
107.25/107.05 support
Dow futures and the Nikkei often lead the dollar against the yen. Yesterday, the analysis said the dollar could test the 107 level against the yen if Dow futures and the Nikkei fall. Early in Asia, the dollar was trading at 107.25 yen. If Dow futures and Nikkei continue to fall, technically, the dollar/yen correction 50% in March, with the first support level at 106.40 and the next level at 105.20. The first significant resistance level is now estimated at 108.25.
 
US dollar/Canadian dollar
1.4255/1.4275 resistance
1.4045/1.4025 support level
Crude oil prices continue to decline trend, bearish Canadian dollar. The U.S. dollar fell and the Canadian dollar gained on expectations of weak U.S. economic data. The U.S. dollar could rise to $1.42 against the Canadian dollar if crude oil prices fall sharply.
 
US crude oil futures
21.90/22.20 resistance
19.95/19.65 support
As global crude oil demand slowed, Saudi producers continued to discount and announced an increase of 400,000 barrels a day to 1m b/d from 600,000 b/d. Believe that U.S. crude oil prices continue to limit the $25 key resistance range. Combined with investors' expectations of weak U.S. manufacturing PMI and ADP private payroll data in March, crude oil prices were bearish. Technically, watch out for wave resistance at $21.90 and $22.20, respectively. First key support at $19.65.
 
Gold
1610/1613 resistance
1570/1567 support
Recent this analysis points to, gold price and silver price adjust together. Preliminary estimates of gold prices tested $1610 support level also breached. Silver fell in step with gold, but less than gold. Now, if investors expect weak Manufacturing PMI data in Europe and the U.S. today, watch for a possible rebound in gold and silver prices. Technically, gold prices rebounded sharply after hitting $1,567, with investors expected to place bids below $1,580. Investors can use this as a reference price and strategy to look for the first significant resistance level at $1,613.
 
Dow Jones industrial average futures US30
21950/22135 resistance
21295/21075 support
Dow futures fell as investors downplayed the outlook for the economy and corporate earnings amid a pandemic in the United States, believing the rebound in Dow futures would be limited. As expected yesterday, U.S. manufacturing PMI, ADP private market job data are expected to be weak, Dow futures fell. If the adjusted wave estimation is used, the short-term support is at 21295 and 21075. The next level targets are 20,755 and 20,435, respectively.
 
BTCUSD:
6800/ 7000 resistance
5700 / 5550 support 
The federal reserve launches No limited QE program. Technically, the bitcoin price would rebound. The bitcoin price is looking for $6800  or $7000 resistance. If the bitcoin price breaks $7000, it would test $10,000.
 
Enjoy trading! The content is for reference only. Please do ensure that you understand the risk.
 
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
 
Legal: AT Global Markets Limited (ATGM, registration number 24226 IBC 2017). ATGM is an International Business Company in Saint Vincent and the Grenadines.

 

  Be the first to like this.
 

ATFX Market Update - 2020.03.31

Author: AFTX   |  Publish date: Tue, 31 Mar 2020, 11:19 AM


ATFX-A Global Leader in Online Trading
ATFX Market Outlook, 2020 Mar 31
 
Personal opinions today: 
 
Japan's retail sales rose at an annual rate in February and the unemployment rate was flat. China's official manufacturing PMI over expect, reached 52 in March, higher than previous readings. Dow futures and Asian stocks rose. Stocks rose at the start of trading in Asia as risk aversion cooled, the dollar rose against the yen and gold and silver prices fell. Before the Chinese data, the Australian and New Zealand dollars had fallen, then rebounded. Separately, gold and silver were supported at $1,610 and $13.9 respectively. Last night, U.S. crude oil futures fell as low as $19.25 then rebounded. US Oil prices held up as China's official manufacturing sector PMI rose in March. For now, investors are watching the U.S. Chicago PMI for March and U.S. API crude inventories.
 
During the European session today, the focus will be on the German unemployment rate and Eurozone CPI data for March. The consensus forecast for a decline in European data on expectations that the data would be affected by the outbreak limited gains in European currencies, which are more likely to be bearish ahead of the release. But the market is more expecting a weak U.S. ADP payrolls data tomorrow, and investors are still likely to bet against the dollar index and U.S. stocks ahead of ADP and non-farm payroll. European currencies, commodity currencies, and gold and silver prices will have a chance to rise. Crude oil price still has a chance to fall, testing key support levels of $19 to $18.
 
[Important financial data and events to watch]
Note: * denotes importance
 
14:00 UK Q4 GDP final* *
4:00 UK Q4 current account *
14:30 Swiss retail sales in February * *
14:45 France March CPI monthly rate * *
15:55 German unemployment rate * * *
17:00 Eurozone March CPI***
20:30 Canada January GDP  * * *
21:45 US Chicago PMI in March ***
22:00 US CB consumer confidence index for March *
Next day 04:30 US API crude stocks change * * *
 
EURUSD
1.1060/1.1080 resistance
1.0965/1.0945 support
Investors believe the coronavirus spread across Europe. The Euro fell against the dollar in 4 hours on expectations of a decline in European data today. Now, 1.0965 is one of the important support levels, the reference 10 moving average resistance is 1.1060. With the release of the U.S. jobs report for March starting tomorrow, the bearish dollar is expected to help the bullish euro/dollar view, believing that resistance at 1.1060 has a chance to break back above the 1.11 level.
 
The British pound to the dollar
1.2395/1.2415 resistance
1.2285/1.2265 support
Investors believe the economic data drop in Europe today, the euro and pound also fell against the dollar. In the 4-hour chart, breaking above the 10 moving average. Pound dollar below test 20 moving average support level 1.2285. After today's European session, investors are expected to look ahead to tomorrow's U.S. jobs report.
 
Australian dollar/US dollar
0.6185/0.6200 resistance
0.6095/0.6075 support
The Australian dollar was trading at $0.6072 today ahead of the release of China's official manufacturing PMI for March. As the data beat market expectations led the Australian dollar to recoup losses against the US dollar expectations. It is believed that investors are expecting weak U.S. economic and employment data this week, and the U.S. dollar may extend its decline, which could see the Australian dollar test a rally against the U.S. dollar. In the short-term, the AUDUSD movement is likely to be limited to 0.6200 resistance.
 
Dollar to Japanese yen
108.75/108.90 resistance
107.80/107.65 support
Dow futures and the Nikkei led the dollar to remain unchanged against the yen. Believe that if Dow futures and the Nikkei are likely to fall, the dollar/yen could test the 107 level. Technically, 50% of the adjusted wave is 106.40, and the lower support level is 105.20. Significant resistance is at 109.22.
 
US dollar/Canadian dollar
1.4255/1.4275 resistance
1.4145/1.4125 support level
Crude oil prices continue to decline trend, bearish Canadian dollar. The U.S. dollar rose to 1.41 against the Canadian dollar as crude oil prices fell. If crude continues to fall, short-term support for the U.S. dollar/Canadian dollar could be at $1.4145 or $1.4125.
 
US crude oil futures
24.10/24.30 resistance
19.55/19.35 support
As global oil demand slows, Saudi oil producers are in no intention to call off the price cuts, and the price of crude continues to limit $25 resistance. Weak expectations for U.S. PMI and ADP private payrolls data, which are expected tomorrow, suggest that continued efforts to limit the rise in crude oil prices could also test another $19 low. Long-term investors are advised to stay on the sidelines as they test low crude prices ahead of this week's European and U.S. data releases.
 
Gold
1630/1633 resistance
1608/1605 support
The federal reserve introduced unlimited funds and US jobless claims rose sharply. The coronavirus outbreak is expected to be more severe in the United States than in Europe and Asia. Tomorrow's weak U.S. PMI and ADP private payrolls data for March, as well as expectations for further consumption data, could push the dollar lower and the gold price would higher. For now, watch for gold and silver prices to adjust together. Preliminary estimates put the gold price at $1,610 or below. Silver tends to move in step with gold, keeping an eye out for support at $1,608 and $13.56.
 
Dow Jones industrial average futures US30
22550/22665 resistance
21610/21295 support
Dow futures fell as investors continued to bet against the outlook for the economy and corporate earnings. Investors continue to worry about the spread of the coronavirus in Europe and the United States, believing Dow futures have limited strength to rebound. In addition, the U.S. manufacturing PMI and ADP payroll are expected to be weak tomorrow, noting that Dow futures may fall. If the adjusted wave estimation, 20755 and 20435 are the first support levels. Short term support levels 21610 and 21295.
 
BTCUSD:
6800/ 7000 resistance
5700 / 5550 support 
The federal reserve launches No limited QE program. Technically, the bitcoin price would rebound. The bitcoin price is looking for $6800  or $7000 resistance. If it breaks $7000, the bitcoin price would test $10,000.
 
Enjoy trading! The content is for reference only. Please do ensure that you understand the risk.
 
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
 
Legal: AT Global Markets Limited (ATGM, registration number 24226 IBC 2017). ATGM is an International Business Company in Saint Vincent and the Grenadines.

 

  Be the first to like this.
 


APPS
I3 Messenger
Individual or Group chat with anyone on I3investor
 
 

81  193  137  692 

ActiveGainersLosers
Top 10 Active Counters
 NameLastChange 
 Jiutian Chemical 0.082-0.001 
 QT Vascular 0.010.00 
 Sembcorp Marine 0.12-0.003 
 Genting Sing 0.645-0.02 
 SingTel 2.03-0.01 
 Ascendas Reit 2.88-0.12 
 CapitaMall Trust 1.73-0.03 
 AusGroup^ 0.017-0.002 
 Frasers L&I Tr 1.23-0.02 
 YZJ Shipbldg SGD 0.920.00