Live Chat
Live Chat

EURJPY lowers further as YEN cross selling continues


EURUSD Pair
EURUSD grids up further on cross demand and broad USD weakness. Trump’s war cry for a weaker dollar is nothing new but it works on the fragile market sentiment. The US/China trade disputes still has no sign on being resolved which driven more EUR demands in short term. Also some cautious for next week ECB meeting and driven more funds demand. Today Germany and Eurozone Zew Survery, US housing starts, building permits, Inudstrial Production, Capacity Utilization and Fed’s William, Quartes, Harker, Evans and Bostic speech together with stock/bond market move will direct the intraday action. With support at 1.2355-60 and resistance at 1.2410 and 1.2470, still to prefer buy on dips with tight stop strategy.

USDJPY Pair
USDJPY grids lower on worry for trade war risk as well as on Trump’s speech for a weaker dollar overnight. Some YEN cross long position unwinding also which adding some pressure for the pair. Today US data and stock/bond market move as well as risk sentiment development will direct the intraday action. With support at 106.70 and 106.40 with resistance at 107.10 and 107.50, still to prefer keeping sell on rallies with tight stop strategy.

GBPUSD Pair
GBPUSD firms up overnight on Brexit news about UK may still probably under EU custom union and also on further positioning of May hike rate (88%) effect. Today UK job data and US data might have some intraday impact. With support at 1.4345 and 1.4300 with resistance at 1.4430, still prefer the buy on dips with tight stop strategy.

USDCHF Pair
USDCHF coming down on strong EUR and in weak USD effect. EURCHF to in steady move and more correlation link with EUR in short term. Today Eurozone and German Zew survey, US data and stock/bond market move will dominate the intraday action. With support at 0.9550 and 0.9520 with resistance 0.9610, still to prefer the sell on rallies with tight stop strategy.

EURJPY Pair
EURJPY lowers further on broad YEN cross selling continuation with the trade disputes between US and China that driven more uncertainty in the market despite of the reducing Syria tension. Also stock market in tight move and have little direction hints and most of technical driven the market move. Today US data and stock/bond market move will have some intraday impact. With support at 132.10 and resistance at 132.90, still prefer the trend following and keeping sell on rallies with tight stop strategy.

EURGBP Pair
EURGBP remains on lower side consolidation and GBP over the year high add some pressure for the cross. But overall steady hold around low 0.86 still sign for a more sideway consolidation. Today UK job data and Germany/Eurozone Zew Survey will have some intraday impact. With support at 0.8630 and 0.8600 with resistance at 0.8670 and 0.8700, still to prefer in range trading with tight stop strategy.

Gold Bars
GOLD gradually grids up on broad USD weakness. And stock steady will driven the GOLD to a more upside risk in short term. Geopolitical situation in Syria reduces but trade tension remain high and uncertainty in the market remain to support GOLD on lower side. Today US data and stock/bond market move might have some intraday impact. With support at 1340 and resistance at 1355, still to prefer keeping buy on dips with tight stop strategy.

Silver Bars
Silver higher in same direction with GOLD. And broad USD weakness also supporting the Silver in short term. Today US data and stock/bond market move will have some intraday impact. With support at 16.45 and resistance at 17, still to prefer the buy on dips with tight stop strategy.


Hantec Global

Ready to start trading?

Open an Account Try Demo

  • Start Forex Trading with Hantec Global now

    LIVE ACCOUNT DEMO ACCOUNT

     
  • SUBSCRIBE to Hantec Global Newsletter


     

    Research Risk Warning

    At Hantec Global Ltd we provide an execution only service. Any opinions expressed by analyst Richard Perry should not be construed as investment advice or an investment recommendation. This report does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. Forex and CFDs are leveraged products which can result in losses greater than your initial deposit. Therefore you should only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved, seeking independent advice if necessary prior to entering into such transactions.