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EURUSD slightly comes down with sluggish move continues


EURUSD Pair
EURUSD comes down slightly with sluggish move continues and EU summit on Thurs and Friday will be the key risk event for EUR. Stocks lower in Asian session driven further risk off sentiment and some month end demand for EURGBP have slightly indirect support for the currency pair. Overall a slow moving day ahead and expect more range consolidation but bias remain for lower gradually and still prefer keeping sell on rallies with tight stop strategy.

USDJPY Pair
USDJPY around similar level from yesterday, and Nikkei down also lower Chinese stock as well as DJI future turning negative driven more risk off sentiment in early European trading. Today US Durable Goods Orders, MBA Mortage Applications, wholesales inventories, trade balance and stock/bond market move will dominate the intraday action. Support at 109 and resistance at 109.85-00 region, still prefer keeping sell on rallies with tight stop strategy.

GBPUSD Pair
GBPUSD grids down gradually with broad USD rebound effect despite of risk off sentiment and lower stock. Today BOE’s Financial Stability Report and Carney speech, CBI Distributive trades survey as well as US data and stock/bond market move might direct the intraday action. Support at 1.3190 and 1.3150 with resistance at 1.3255 and 1.3300-10, current level still prefer sell on rallies with tight stop strategy.

USDCHF Pair
USDCHF slightly higher with some short covering on EURCHF effect but overall risk off sentiment remain limiting the short term upside gains. Today Swiss ZEW survey and US data as well as stock/bond market move will dominate the intraday action. Support at 0.9820 and resistance at 0.9920, still prefer sell on rallies with tight stop strategy.

EURJPY Pair
EURJPY lower slightly with lower Nikkei and Chinese stock. Further risk off sentiment as market remain to worry for global trade situation after US/China trade disputes and Trump try to consider impose car tariff to EU as well. Today US data and stock/bond market move might also have small intraday impact. Support at 127.70 and 127.35 with resistance at 128.35 and 128.85, still prefer keeping sell on rallies with tight stop strategy.

EURGBP Pair
EURGBP grids up gradually with some month end demand as well as broad EUR cross demand effect. Today US data and stock/bond market move will have some intraday impact. Support at 0.8810 and resistance at 0.8850 and 0.8880, still to prefer buy on dips with tight stop strategy.

Gold Bars
GOLD down further on testing technical support around 1255 and overall reaction with strong USD trend despite stock coming down in Asian session. Risk off sentiment cannot have significant support for GOLD with market worries for global growth lower on trade disputes. Today US MBA Mortgage Application, wholesales inventories, trade balance, and durable goods orders as well as stock/bond market move will direct the intraday action. Support at 1255 and 1250 with resistance at 1261 and 1265, still prefer in range trading with tight stop strategy.

Silver Bars
Silver in narrow range overnight with little risk event and basically following GOLD and USD move. Today US data and stock/bond market move will have some intraday impact. Support at 16.20 and resistance at 16.45 and 16.80, current level prefer in range trading with tight stop strategy.


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