Highlights

ATFX News Update

Author: AFTX   |   Latest post: Thu, 21 Feb 2019, 10:17 AM

 

ATFX Market Update - 2019.01.24

Author:   |    Publish date:


Personal opinions today:

 

The Sino-US trade negotiations continue at the end of the month, the risk cooling down. In addition, the performance of US companies was better than market expectations, and the investment climate improved, driving the US Dow to rise. German Prime Minister and European Parliament officials said that they will continue negotiations with the UK to avoid the risk of a hard Brexit at the end of March, and may help the UK to postpone the Brexit time. The GBP exchange rate is supported, breaking the important resistance of 1.30 and becoming the main currency against the US dollar. The most prominent currency.

 

Beijing time tonight, ECB interest rate decision and monetary policy announcement. The market expects interest rates to remain unchanged, but pay attention to ECB President Draghi's remarks. If the dovish speech is maintained, the euro will have a limited increase against the US dollar.

 

Today's suggestion:

EURUSD 

1.1395/1.1425 resistance

1.1360/1.1345 support

In the evening, the European Central Bank announced the results of the interest rate meeting and expressed its enlightenment on the future monetary policy orientation. After the meeting, the speech of the ECB president will become the focus of the market, and the fluctuation of the euro will arise. If the ECB strengthens its dovish remarks, it may cause the euro to continue falling against the dollar. At present, the overall trend of the euro remains on the sidelines, the exchange rate remains at 1.13 level to 1.14 resistance, please pay attention to trading risks.

 

GBPUSD

1.3105/1.3135 resistance

1.3045/1.3015 support

The market expects the British Prime Minister to submit a new draft of Brexit to the British parliamentarians for discussion. It is expected to improve the deadline for Brexit and support the rise in the exchange rate of the British pound. In addition, the German prime minister and European Parliament officials expressed their willingness to cooperate with the United Kingdom to avoid the British hard Brexit and comments to boost the pound. However, the exchange rate of the British pound fluctuated sharply, paying attention to adjusting the risk

 

USDCHF 

0.9965/0.9985 resistance

0.9925/0.9900 support

The UK avoided hard Brexit and boosted European currencies, and the Swiss franc indirectly rose. The market is currently awaiting the ECB's interest rate and monetary policy. Technically, it is estimated that the US dollar against the Swiss franc is developing within the range of 0.99. If the euro rises further, the dollar will break through 0.9900 support against the Swiss franc.

 

USD/JPY

109.85/110.05 resistance

109.25/109.05 support

The US Dow and the Nikkei Index drive the dollar against the yen. In addition, Bank of Japan Governor Haruhiko Kuroda said that the Bank of Japan’s monetary policy is expected to remain unchanged and the current quantitative easing monetary policy will continue. The rhetoric has kept the yen at risk of falling. Technically, USD/JPY will have the opportunity to maintain above 109.30. If the market risk continues to cool, the stock market will rise, and the USD/JPY is expected to test 110.

 

AUDUSD 

0.7175/0.7190 resistance

0.7135/0.7120 support

The Australian dollar regained above 0.7145, mainly due to Australia's announcement that employment data improved last month and the unemployment rate fell. Secondly, Sino-US trade negotiations, relations improved, both sides agreed to meet at the end of the month. The Sino-US trade negotiations have made progress and the Australian dollar has the opportunity to go up.

 

NZDUSD 

0.6825/0.6845 resistance

0.6785/0.6765 support

The day before, New Zealand's fourth quarter CPl annual growth rate is better than expected. Australia's employment has improved this morning. The New Zealand dollar has broken through the 200-hour moving average resistance and further challenged 0.68. Coupled with the improvement of Sino-US trade negotiations, the New Zealand dollar can rise.

 

USD/CAD

1.3345/1.3365 resistance

1.3290/1.3270 support

The crude oil futures prices fell, Canadian retail sales fell, bad for the Canadian dollar. The current technical extension extends to 1.3330, and may even hit 38% of the rebound, to 1.3365 resistance. But if the crude oil price breaks through the $55 resistance, there will be a chance to pull the dollar against the Canadian dollar to 1.3235 or 1.3215. It is recommended to pay attention to the US crude oil inventory report tomorrow morning to observe the development of crude oil prices and the Canadian dollar.

 

EUR/GBP

0.8755/0.8770 resistance

0.8700/0.8675 support

The Brexit incident is waiting for progress, easing market tensions and boosting the pound. On the contrary, the Eurozone data is still weak, monetary policy tends to doves, bad euros, and the euro fell against the pound.

 

EURCHF 

1.1345/1.1365 resistance

1.1320/1.1300 support

The euro was slowed down against the Swiss franc and continued to rebound last week. Technically, focus on the important resistance of 1.1345. If the EURCHF break through the resistance, it can expect to test 1.14. Please keep an eye on the European Central Bank's monetary policy, whether it will bring the euro to a weak position and change the trend of the euro against the Swiss franc.

 

XAUUSD 

1287/1289 resistance

1279/1277 support

The risk of hard Brexit in the UK has cooled down. At present, the Sino-US trade negotiation relationship has improved. The US Dow and Asian stock markets have risen, and the price of gold has downward pressure. Technically, the current technology key position is $1,277.

 

US crude oil futures:

53.55/54.05 resistance

52.10/51.50 support

US crude oil inventories rose sharply and crude oil prices fell. As expected in this analysis yesterday, the market is worried that the European and Chinese economies lack momentum and demand for crude oil falls. When investing, it must be noted that crude oil prices may limit the increase and have the opportunity to adjust the decline.

 

US Dow Jones Industrial Index Futures US30

24600/24700 resistance

24370/24250 support

Sino-US trade negotiations improved, and the US Dow rose. At present, China and the United States are awaiting negotiations, and it is expected that the performance of US companies will support the rise of the US Dow. However, it must be noted that when the results of individual US companies are announced, there is a large fluctuation in the stock market, and it is recommended to be careful about trading.

 

BTCUSD:

3470 / 3380  support

3750 / 3950 resistance 

Under the Fed monetary policy forecasts and the cryptocurrencies market. If the US Dow index keeping up, which is negative for the crypto market. If the Dow go down, it maybe support the crypto currencies rebound. Technically, the bitcoin price will testing the support at 3470. If rebound, the first target maybe set at 3750.

 

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

Legal: AT Global Markets Limited (ATGM, registration number 24226 IBC 2017). ATGM is an International Business Company in Saint Vincent and the Grenadines. Registered address is : the Financial Services Centre, Stoney Ground, Kingstown, St.Vincent & the Grenadines.

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