EURUSD grids up on broad EUR cross strength despite the steady risk sentiment. And broad USD weakness driven more upside risk for EURUSD. Today Eurozone current account balance and US initial jobless claims, Philadelphia Fed Manufacturing Survey and leading indicators will have some intraday impact. With support at 1.2370 and resistance at 1.2410-15 and 1.2470, still to prefer keeping buy on dips with tight stop strategy.
USDJPY stays in similar level from yesterday and mostly in narrow range consolidation. Stock market in tight move with steady UST yield and meeting of Trump/Abe nothing special regarding FX rate have little impact for the pair. Today US data, Fed’s member speech and stock/bond market move will have some intraday impact. With support at 107 and resistance at 107.50, still to prefer in tight range trading pattern continuation.
GBPUSD lowers overnight on weak CPI data effect but overall look data will be seasonal weak and one off effect. Today UK retail sale data will have some intraday impact, overall market remain to expect BOE hike rate on May and demand on lower side remain solid. With support at 1.4170 and resistance at 1.4280, current level prefers keeping buy on dips with tight stop strategy.
USDCHF around similar level from yesterday and EURCHF near the old pegged level stalling driven more correlation move with EUR again. And broad USD consolidation will capping some upside gains. Today US data, Fed’s member speech and stock/bond market move will direct the intraday action. With support at 0.9610 and resistance at 0.9730, still prefer keeping range trading with tight stop strategy.
EURJPY grids up slightly on higher EURUSD and USDJPY effect. But overall stock and UST yield in steady move and most are link with technical move. Today US data and stock/bond market move will have small intraday impact. With support at 132.10-20 and resistance at 133.10-30 region, today slightly prefer sell on rallies with tight stop strategy.
EURGBP going higher on weak UK CPI which driven some short covering despite some rebound of GBP afterwards. But the cross look more short term correction high risk and base shift up to 0.8670-80 region. Today Eurozone Current Account balance and UK Retail Sales data will direct the intraday action. With support at 0.87 and resistance at 0.8750 and 0.8790, current level still prefer buy on dips with tight stop strategy.
GOLD grids higher on Aluminum with Nickel price goes higher as US sanctions sow worldwide confusion. Also crude oil higher on decreasing inventories data also boost yellow metals demand. Broad USD in steady move with AUD / NZD / CAD higher also have some indirect support for GOLD. Short term uptrend remains healthy and today US initial jobless claims, Philadelphia Fed Manufacturing Survey, leading indicators, Fed’s member Quarles and Mester speech together with stock/bond market move will direct the intraday action. With support at 1345 and resistance at 1355 and 1365, still to prefer buy on dips with tight stop strategy.
Silver higher in the same direction with GOLD and the broad USD consolidation with commodity price higher supports the Silver uptrend in short term. Today US data, Fed’s member speech and stock/bond market move will have some intraday impact. With support at 17 and resistance at 17.70, still to prefer the buy on dips with tight stop strategy.