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GOLD down further hitting the lowest for the year


EURUSD Pair
EURUSD lower gradually on broad USD strength and EU leaders meeting with immigration issue focusing with Merkel response also have some impact for Germany politics. Today Eurozone Confidence data, Germany CPI and US GDP (Q1), Jobless claims, Personal consumption expenditures as well as stock/bond market move will dominate intraday action. Support at 1.1510 and resistance at 1.1575, still prefer keeping sell on rallies with tight stop strategy.

USDJPY Pair
USDJPY higher overnight on stabilize US stock and Trump playing down the Chinese firm investment restriction effect driven more short covering on USDJPY and JPY cross. Overall market remain cautious and expects USDJPY will still in slow move around 110 handle. Today US data and stock/bond market move will have some intraday impact. Support at 109.85 and resistance at 110.50, current level prefer in range trading with tight stop strategy.

GBPUSD Pair
GBPUSD hits fresh year low 1.3065 after taken out prior year low 1.3102 and 1.3100 option barrier earlier. BOE’s Cunliffe express worry on high household debts and EU leaders meeting with still worrying on Brexit issue that also adding some pressure for GBP. Today US data and stock/bond market move will have some intraday impact. Support at 1.3050 and 1.3020 and resistance at 1.3100-10 and then 1.3150, still prefer keeping sell on rallies with tight stop strategy.

USDCHF Pair
USDCHF grids higher on lower EUR and broad USD strength effect. EURCHF stalling above 1.15 and sending more correlation move with EURUSD remain in short term. Today US data and stock/bond market move will have some small intraday impact. Support at 0.9950 and resistance at 1.0000, current level prefer in range trading with tight stop strategy.

EURJPY Pair
EURJPY lowers down further despite DJI close slightly up but lower Asian stock market and market remain cautious on trade war risk in short term. Today US data and stock/bond market move might have small intraday impact. Support at 126.80 and resistance at 127.85, still prefer sell on rallies with tight stop strategy.

EURGBP Pair
EURGBP around similar level from yesterday and month end demand will still support the cross as well as lower GBPUSD effect. Today Eurozone confidence data and Germany CPI as well as US data and stock/bond market move will dominate the intraday action. Support at 0.8800-10 and resistance at 0.8850 and then 0.8880, still prefer keeping buy on dips with tight stop strategy.

Gold Bars
GOLD down further with break of 1250 to 1248.19 a fresh lower for the year, broad USD strength and some relief of trade war after Trump playing down restriction for Chinese companies investment in US. Today US Q1 GDP, Personal Consumption Expenditure and Initial Jobless Claims and stock/bond market move will dominate the intraday action, technical oversold but trend all reacting with USD move in short term. Support at 1245 and resistance at 1263, current level prefer in range trading with tight stop strategy.

Silver Bars
Silver down in following lower GOLD and broad USD strength effect despite of technical oversold. Today US data and stock/bond market move will have some intraday impact. Support at 16 and resistance at 16.25, current level prefer in range trading with tight stop strategy.


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