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GOLD gradually higher on short covering


EUR/USD around similar level with yesterday on lack of incentive factor as well as most investment still take a wait-and-see attitude for ECB policy stance after recent dovish taper effect, EUR cross will still dominate the move and today US initial jobless claims, wholesale inventories and wholesale trade as well as stock/bond market move will have some intraday impact, support at 1.1570 and resistance at 1.1650; still prefer in range trading with tight stop strategy.

USD/JPY follow the Nikkei move in earlier session with Nikkei hit 26 years high before turning back as with the USDJPY hit 114.07 and turning back to 113.46 low, basically yield differential and central bank policy divergence remain supporting USDJPY in medium-term and steady risk sentiment also benefit for the yen cross as well, today expect still some basing process but demand expect strong around 113.00-20 region, today US data and stock/bond market move will also have some intraday impact, still prefer keeping buy on dips with tight stop strategy.

GBP/USD higher to 1.3153 before turning back earlier with today will have some Brexit news out and EU will seek 1-2 weeks’ time for the UK prepare the next Brexit negotiation plan and BOE’s McCafferty says UK economy remains uncertainty in terms of Brexit etc… will still leading more choppy up and down swinging for intraday, later US data and stock/bond market might have small intraday impact, support at 1.3050 and resistance at 1.3150-55 and then 1.3175-80; still prefer keeping sell on rallies with tight stop strategy.

USD/CHF higher slightly on EURCHF regain to 1.1600 effects and also with steady US stock and earlier Swiss unemployment rate at 3% same as expected, overall trend remains constructive and still follow the broad USD move, today US data and stock/bond market move will have some intraday impact, support at 0.9990-00 and resistance at 1.0030 and 1.0080; still prefer buy on dips with tight stop strategy.

EUR/JPY steady move and mostly follow USDJPY action with risk sentiment remain stable on stock and bond yield keeping steady that will leading more upside risk on the cross in short-term despite still small concern for geopolitical situation on Trump Asian Trip, today US data and stock/bond market move will have some intraday impact, support at 131.50 and resistance at 132.25-30; today prefer to buy on dips with tight stop strategy.

EUR/GBP overnight reject at 0.8865 and some pullback but overall around NY close 0.8830 stalling today, UK Brexit news/headlines will have some impact to the cross as recently the move driven by GBPUSD more likely, besides, US data and stock/bond market also have small intraday impact, support at 0.8800-10 and resistance at 0.8865 and 0.8910; still prefer keeping buy on dips with tight stop strategy.

GOLD gradually higher on short covering and uncertainty on N Korea situation still during Trump visit with Trump says he believes something will happen in North Korea, also some stop loss trigger above 1285 overnight also adding some upside momentum with steady USD and slightly lower UST yield effect, today US Wholesale trade/inventories and initial jobless claims as well as stock/bond market move will have some intraday impact, support at 1278 and resistance at 1287 and 1295; still prefer keeping buy on dips with tight stop strategy.

SILVER higher slightly in the same direction of GOLD and broad USD slightly lower and falling UST yield still supporting the silver on the lower side, today US data and stock/bond market move will have some intraday impact, support at 17 and resistance at 17.45; still, prefer buy on dips with tight stop strategy.


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