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EURGBP grids higher as GBP in lowering effect


EURUSD Pair
EURUSD retraces further on broad USD rebound and in German stock/bonds as it is in lowering effect being dropped for the fourth day. Today the Eurozone GDP, consumer confidence and German CPI will have some intraday impact with support at 1.2300-20 and resistance at 1.2390-00. Still to prefer buying dips with tight stop strategy.

USDJPY Pair
USDJPY grids lower slightly despite of USD rebound on technical bearish after failing to sustain the above 109 handle. The worries for BOJ earlier exit strategy remains and also the lowering of stock add some pressure for the pair. Today US Home Price Index and stock/bond market move will have some intraday impact with support at 108.50 and 108.00 with resistance at 109.10-20. Prefer to keep selling on rallies with tight stop strategy.

GBPUSD Pair
GBPUSD goes down further and break below 1.4, confirmed the short term top form last week at 1.4346. More extensions if any bad news from Brexit negotiation or on Theresa May’s political side, today’s BOE Carney speech and US Home Price Index as well as stock/bond market move might have some intraday impact with support at 1.3930 and resistance at 1.4040. Still prefer to sell on rallies with tight stop strategy.

USDCHF Pair
USDCHF in around similar level from yesterday despite the lowering in EUR that driven more lower EURCHF and keeping USDCHFstable overnight. The US stock lowers but bond yield rises up to 4 year high which give some support for the pair. Today US Home Price Index and stock/bond market move will have some intraday impact and ahead of tomorrow FOMC, USD will still show some corrective move with support at 0.9300 and resistance at 0.94. Prefer still the selling rallies with tight stop strategy.

EURJPY Pair
EURJPY lowers gradually as both EUR and USDJPY in lowering effect as well. Lower in stock market driven some profit taking on the cross but risk sentiment remains steady and will still show more support on lowering side. Today US Home Price Index and stock/bond market move will have some intraday impact with support at 134 and resistance at 134.90. Still preferring the range trading with tight stop strategy.

EURGBP Pair
EURGBP grids higher as GBP is in lowering effect with some uncertainty on Brexit as well as Theresa May’s political future still driven the GBP cross to lower overnight. Today BOE’s Carney speech and US New Home Sales as well as stock/bond market move will have some intraday impact with support at 0.88 and resistance at 0.8830 and 0.8880. Prefer to keep buying on dips with tight stop strategy.

Gold Bars
GOLD retraces further on USD correction trend ahead of FOMC continuation. US treasury bond yield rises up to 4 year high and finally support some USD demands. But the retracing of US stocks will slow down the move. Today US New Home Price Index as well as stock/bond market move will have some intraday impact with support at 1330 and resistance at 1345. Prefer to buy on dips with tight stop strategy.

Silver Bars
Silver in down retrace overnight, the same direction with GOLD. And broad USD rebound will be adding some pressure for the silver in short term. Tomorrow’s FOMC meeting is the next risk event but until then expects the silver to be under some pressure despite the remaining bullish trends. Today US Home Price index and stock/bond market move will have some intraday impact with support at 17 and resistance at 17.50 to still prefer buying dips with tight stop strategy.


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