EURUSD lower slightly as the market still cautious ahead of Thursday’s ECB meeting and pullback some long position. News about Merkel being closer to a 4th term of coalition government has a little impact for the pair so far. With US government shuts down after Senate 50-49 rejection last Friday and will be voting again in noon US time today, which adds more cautious starts for the week. Also Chicago Fed Manufacturing Activity Index and stock/bond market move might have small intraday impact with support at 1.2185 and resistance at 1.2285. Still preferring the in range trading with tight stop strategy.
USDJPY around in similar level of last Friday with an option expiry today around 110.70 and 111.50 expects to have capping move on either side. With the US government being shut down, it has a little impact in Asian session as today the Senate will vote again at noon and expected to see more impact in the market if result stays the same. Today US Chicago Fed National activity and stock/bond market move will have some intraday impact. Also no changes are expected on Tomorrow’s BOJ meeting but will pay more attention on Kuroda’s speech because of the early reduced bond purchase action this January. With support at 110.50 and resistance at 111.10, prefer the in range trading with tight stop strategy.
GBPUSD remains in higher end consolidation with leverage funds continues to add long position in weak USD environment. But still cautious about the Brexit negotiations news and will still capping the topside gains. Today no UK data and only US Chicago Fed National Activity Index as well as stock/bond market move and Senate voting again for the funding gap will have some intraday impact with support at 1.38 and resistance at 1.3940. Still prefer the in range trading with tight stop strategy.
USDCHF higher gradually with rebound of EURCHF cross as well as some short covering after the USDJPY recovery. US government shut down news have less impact to the market with Senates voting again today noon US time. Besides US Chicago Fed National Activity Index as well as stock/bond market move will have some intraday impact with support at 0.9580 and resistance at 0.9650 as still preferring in range trading with tight stop strategy.
EURJPY stays in consolidation above 135 as bullish trend remains intact. Today, US Senate will vote again for gap funding and risk sentiment stays steady in starting the week. Tomorrow’s BOJ meeting and ECB meeting this coming Thursday are the major focus for the cross and until then it expects more sideway consolidation with firm bias tone. In support at 135.35 and resistance at 136.50, prefer to keep buying on dips with tight stop strategy.
EURGBP around similar level last Friday, the market directs the USD major action with little news out from EU and UK side and adding more sideway base building process for the cross. This week’s ECB meeting is the major focus and some speech from Davos’ meeting also will have short term impact to the market. US Senates voting again for the gap funding around noon US time and US Chicago Fed National Activity Index as well as stock/bond market move might also have some intraday impact with support at 0.8800 and resistance at 0.8865. Still prefer to keep on buying dips with tight stop strategy.
GOLD stays in sideway consolidation within 1328.50 – 1335.50 in asian session as US government shut down impact are smaller than expected. US Senate voting again around NY noon time and USDJPY rebound leading some support for USD but add some pressure for GOLD. Today US Chicago Fed National Activity Index as well as stock/bond market move will also have some intraday impact with support at 1328-1330 with resistance at 1335 and 1340. And prefer buying dips with tight stop strategy.
Silver also around similar last Friday and in the same direction with GOLD and broad USD move. Today US Senate will vote again for the funding gap bill and Chicago Fed National Activity Index as well as stock/bond market move will have some intraday impact with support at 17 and resistance at 17.45. Buying on dips with tight stop strategy is still prefer.