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EUR/USD retrace from 1.1898 (NY Close) in Asian session with US tax reform bill


EUR/USD retrace from 1.1898 (NY Close) in Asian session with US tax reform bill pass in early Sat. as well as Flynn effect less than expect that leading some short covering on USD as well as UST yield grid higher from 2.37% to 2.4% (10 years) also support USD rebound, today Eurozone PPI, Sentix Investor Confidence and US ISM NY index, Factory Orders as well as stock/bond market move will have some intraday impact, support at 1.1830-35 and resistance at 1.1935 (Asian top), still prefer keeping buy on dips with tight stop strategy.

USD/JPY gap higher in Asian session after weekend tax reform passed and higher UST yield (10 years 2.4%) effect despite Nikkei closes -0.49% at 22707.16 and overall steady risk sentiment and broad USD strength will still support the pair, today US ISM NY index and Factory order as well as stock/bond market move will have some intraday impact, support at 112.60-65 and resistance at 113.50; today still prefer keeping buy on dips with tight stop strategy.

GBP/USD retrace from NYC 1.3475 with broad USD strength and today Theresa May will have lunch meeting with EU’s Juncker and Barnier regarding Brexit issue and most market pricing for agreement during Dec 14-15 EU summit and going into next stage negotiation earlier next year, any news/info or speech later will still drive more choppy move of GBP and today UK Construction PMI together with US data will have small intraday impact, support at 1.3370 and resistance at 1.3520; today prefer in choppy range-trading pattern continuation.

USD/CHF high from NYC 0.9760 on broad USD strength after the US pass the tax reform and less damage of Flynn effect, UST yield higher in Asian session also support the pair with higher EURCHF also indirectly support the pair, today US data and stock/bond market move will have some intraday impact, support at 0.9820 and 0.9760 with resistance at 0.9880; today prefer to buy on dips with tight stop strategy.

EUR/JPY higher slightly on USDJPY running up effect, broad USD strength with US Senate pass the tax reform bill as well as Flynn less damage effect than expect driven more bullish move on the cross despite Nikkei slightly lower earlier, today US ISM NY index and Factory order as well as stock/bond market move will have some intraday impact, support at 133.80 and resistance at 135.00; still prefer buy on dips with tight stop strategy.

EUR/GBP price around similar level with Friday and the cross remain in sideway consolidation on an overall uptrend, today UK Construction PMI, US ISM NY Index, Factory Order, Eurozone PPI, Theresa May meeting with EU’s Barnier and Juckers might have some intraday impact, support at 0.8770-80 and resistance at 0.8900; today prefer keeping buy on dips with tight stop strategy.

GOLD retrace back in Asian session from NYC 1280.36 after broad USD strength and weekend US Senate passes the tax reform bill effect, higher UST yield (10 years rise from 2.37% to 2.4%) also adding some pressure for GOLD but overall GOLD remain in broad range consolidation pattern in an overall uptrend, today US ISM NY index, Factory Orders data and stock/bond market move will have some intraday impact, Friday US NFP data will be the week focus, support at 1270 and resistance at 1290; today prefer keeping buy on dips with tight stop strategy.

Silver lower slightly in the same direction of GOLD and broad USD strength will still add some pressure for silver despite short-term technical overall, today US data and stock/bond market move will have some intraday impact, support at 16.30 and resistance at 16.65-70; still, prefer keeping buy on dips with tight stop strategy.


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