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EURUSD lowers down overnight on broad USD and EUR cross


EURUSD Pair
EURUSD lower overnight on broad USD recovery and EUR cross selling effect. Higher DJI reverses some stock worry and the lack of any further reaction of trade war concern also helps some technical rebound for USD. Today the Eurozone CPI , US PMI, ADP employment change, Factory and Durable Goods orders data as well as stock/bond market move will have some intraday impact. With support at 1.2240-50 and resistance at 1.2340, still to prefer keeping buy on dips with tight stop strategy.

USDJPY Pair
USDJPY goes higher with broad USD strength and higher stock effect. Also some relief for risk sentiment also helping the JPY cross recovery and indirectly supporting the pair. Today the US data and stock/bond market move will dominate the intraday move. With support at 106.10 and resistance at 106.90-00, still to prefer in range trading with tight stop strategy.

GBPUSD Pair
GBPUSD around similar level from yesterday and strength in cross but going steady with USD overnight. Today the UK Construction PMI, US ADP Employment Change, PMI and Factory Orders, Durable Goods Orders as well as stock/bond market move will direct the intraday action. With support at 1.4020 and resistance at 1.4100, still to prefer in range trading with tight stop strategy.

USDCHF Pair
USDCHF goes higher on the same direction with broad USD strength and lower EUR effect. Today the US data and EUR move will leading the intraday action. And still preferring in range consolidation pattern.

EURJPY Pair
EURJPY slightly higher on stock rebound also in effect of higher USDJPY. But overall fragile risk sentiment remains ahead of any further announcement on Trump administration for trade issue. Today the US data and stock/bond market move will have some intraday impact. With support at 130 and resistance at 131.10-30, still to prefer in range trading with tight stop strategy.

EURGBP Pair
EURGBP lowering down with broad EUR weakness and in GBP keeping steady tone effect. Today the Eurozone unemployment rate and CPI data as well as UK Construction PMI data will have some intraday impact as the overall base building pattern remains. With support at 0.8710 and resistance at 0.8780, still prefer to keeping buy on dips with tight stop strategy.

Gold Bars
GOLD pulls back slightly with broad USD rebound and in effect of higher stock overnight. With some profit taking selling as well but overall fragile risk sentiment will easily turning from one side to other as the physical demand on lower side will still giving GOLD more support. Today the US data and stock/bond market move will have some intraday impact. With support at 1330 and resistance at 1345, still to prefer buy on dips with tight stop strategy.

Silver Bars
Silver lower slightly in the same direction with GOLD and the higher USD will be adding some pressure for  the silver. But overall move still follows GOLD and much orderly market. Today the US data and stock/bond market move will direct the intraday action. With support at 16.4 and 16.25 with resistance at 16.65 and 16.90, still prefer the buy on dips with tight stop strategy.


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    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.