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EURJPY higher with risk on sentiment in ahead of summit


EURUSD Pair
EURUSD continues to go higher with market short covering ahead of next week ECB meeting as well as in higher Germany bond yield (10 years Bunds hit 2 week high 0.5%) and broad risk on sentiment supporting the EUR cross recovery as well. Today Eurozone GDP data and US jobless claims, IBD/TIPP Economic Optimism Index together with stock/bond market move will dominate the intraday action. Tomorrow starts of G7 leader meeting and Trump says to be planning to adopt a confrontational tone at G7 will see more friction ahead. Support 1.1770-80 and resistance at 1.1850-60, still to prefer keeping buy on dips with tight stop strategy.

USDJPY Pair
USDJPY hits 110.27 high overnight before turning back despite of higher US and Japan stock market. But more profit taking ahead of uncertainty on global trade friction generated by Trump and G7 meeting will still hard to guess any solution and Japan Chief Cabinet Secretary Suga says will work on US tariff issue have little impact for the pair. Today US data and stock/bond market move might have small intraday impact. Suport at 109.30 and resistance at 110.30, still prefer sell on rallies with tight stop strategy.

GBPUSD Pair
GBPUSD grids up with the same direction of EUR as broad USD retraces overnight despite of higher US stock market and steady UST yield still driven more short covering rallies. Today US House Price Index and US data, stock/bond market move will have some intraday impact. Support at 1.3410-20 and resistance at 1.3520-30, still prefer buy on dips with tight stop strategy.

USDCHF Pair
USDCHF around similar level from yesterday despite of higher EUR overnight with EURCHF climbs up over 1.16 again that indirectly support the pair on lower side. Today Switzerland unemployment rate at 2.6% same as expected with no impact for the pair but later US data and stock/bond market move will have small intraday impact. Support at 0.982 and 0.9780 with resistance at 0.9880-90, still prefer keeping sell on rallies with tight stop strategy.

EURJPY Pair
EURJPY continues to go higher with risk on sentiment ahead of next week Trump/Kim summit in Singapore and higher US and Japan stock market performance as well as steady UST yield effect. Today US data and stock/bond market move will have some intraday impact. Support at 129.65 and resistance at 130.10 and 130.60, still prefer in range trading with tight stop strategy.

EURGBP Pair
EURGBP grids up gradually with steady EUR cross rebound and technical move driven the cross higher gradually. As the market starts pricing any end of QE by ECB next week meeting will support the cross on lower side. Today Eurozone GDP and US data as well as stock/bond market move will have some intraday impact. Support at 0.8750-60 and resistance at 0.8830, still prefer buy on dips with tight stop strategy.

Gold Bars
GOLD in around similar level from yesterday despite risk on sentiment and higher stock, steady bond yield effect. Market will still in base building pattern and more balance risk driven some sideway consolidation overnight but bias remain firm on technical correction trend remain to exists. Today US data and stock/bond market move will have small intraday impact. Support at 1292 and resistance at 1302 and 1308, still prefer buy on dips with tight stop strategy.

Silver Bars
Silver goes higher with the slightly lower GOLD/Silver ratio overnight and some technical move driven the Silver up after hold firm above 17.40 support and market remain cautious ahead of next week risk event. Today US data and stock/bond market move will have some intraday impact. Support at 16.40 and resistance at 17.00, still prefer buy on dips with tight stop strategy.


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