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EUR/USD slightly lower after ECB meeting


EUR/USD slightly lower after ECB meeting without surprise and some profit-taking driven EUR cross lower effect, today Eurozone Trade Balance, US Industrial Production, NY Empires State Manufacturing Index as well as EU summit will have some intraday impact, overall expect EUR stay in consolidation with firm bias pattern and prefer keeping buy on dips with tight stop strategy.

USD/JPY lower on broad USD weakening on market back to US tax reform bill issue see whether can compromise with House and Senate version as well as lower UST yield and Nikkei down effect, BOJ new dissenter calling for more stimulus will support the pair on lower side and technical still expect more upside risk in near term, today US data and stock/bond market move will have some intraday impact, support at 112 and resistance at 112.85; still prefer buy on dips with tight stop strategy.

GBP/USD around similar level with yesterday and overall market reacting orderly with BOE outcome as expected and slow and gradual move on rate will still the major focus for BOE, also better retail sales data also only have a short-lived effect, today EU summit for schedule to discuss Brexit issue and some news/speech will driven the intraday move, support at 1.3370 and resistance at 1.3450-60; today still prefer to choppy range-trading pattern continuation.

USD/CHF higher after SNB keep rate at -0.75% as expected with SNB remain see higher value for CHF and says still a long distance of period not consider rate change effect, more risk for yield divergence widening as well as higher EURCHF cross still support the pair in short-term, today US data and stock/bond market move will have some intraday impact, support at 0.9870 and resistance at 0.9920 and 0.9950; today prefer keeping buy on dips with tight stop strategy.

EUR/JPY lower on both USDJPY and EURUSD retracement effect with some selling after ECB meeting and lower Nikkei driven USDJPY lower effect, today US data, Eurozone trade balance and stock/bond market move will have some intraday impact, support at 132 and resistance at 133; today prefer buy on dips with tight stop strategy.

EUR/GBP moving lower gradually and overall remain in choppy range consolidation pattern with both BOE and ECB meeting over without any surprise, today EU summit for Brexit discussion and any news or speech will dominate the intraday action, support at 0.8740 and resistance at 0.8830; still, prefer in range trading with tight stop strategy.

GOLD up slightly with broad USD weakening effect, market remain worry for uncertainty on US tax bill that compromise with House and Senate version process, also US stock lower will also helping some demand for GOLD as well, short-term remain focus on position adjustment and technical rebound underway, today US NY Empire Manufacturing, Industrial Production, Capacity Utilization as well as stock/bond market move will have some intraday impact, support at 1253 and resistance at 1265; today prefer keeping buy on dips with tight stop strategy.

Silver lower slightly on some GOLD/Silver ration buying and overall remain swinging around 16.00 handle with broad USD weakness and GOLD strength still support silver on lower side, today US data and stock/bond market move will have some intraday impact, support at 15.83 and resistance at 16.15; still prefer buy on dips with tight stop strategy.


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