EURUSD higher on broad weak USD with the help of US treasury secretary and the effects on US and trades comments. Today’s ECB meeting and Draghi’s press conference will direct the intraday action with market expecting the rate and policy stance to be kept unchanged. But Draghi’s verbal intervention for the EUR recent moves are key focus point and also broad USD move will have impact to EUR as well. With support at 1.2335 and resistance at 1.2460 and 1.2500, prefer to be cautious and follow the reactions on Draghi’s move.
USDJPY continue to grid down on broad weak USD and bearish trend keep going with price under 110 handle. Today ECB’s meeting is the key focus and US initial jobless claims, New Home Sales and stock/bond market might have small intraday impact. With support at 108.50 and resistance at 109.50 slightly prefer to sell on rallies with tight stop strategy.
GBPUSD hits 1.4330 earlier on bearish USD trend continuation in Asian session before some profit taking selling. But overall, the weak USD trend firmly intact and any correction recently are rather short lived despite technical overbought. Today the ECB meeting, US data and stock/bond market move will dominate the intraday action. With support at 1.4150 and 1.4210 with resistance at 1.4330, the current level slightly prefer buying dips with tight stop strategy.
USDCHF lowers further on broad USD weakness and US seems able to adapt on the weak USD policy that speed’s up the move overnight. EURCHF pullback gradually with global trades facing some protectionism risks that indirectly adding some pressure for USDCHF as well. Today US data, ECB meeting and stock/bond market move will dominate the intraday action. With support at 0.9400 and 0.9350 with resistance at 0.9460 and 0.9510, prefer the following of trend and taking sell on rallies with tight stop strategy.
EURJPY in around similar level from yesterday and risk sentiment going steady overall with the market major focus is on direct USD dealings and cross rather in passive response. Today’s ECB meeting and Draghi speech will be the key focus and directs the intraday cross action. Also US data and stock/bond market move might have small intraday impact with support at 134.90 and resistance at 136.00, still prefer keeping range trading with tight stop strategy.
EURGBP lower further on GBP strength and in weak USD tone effect. Today ECB meeting and Draghi speech will be the key risk event for the cross and direction depending whether Draghi’s verbal intervention with recent EUR move. Besides that the US data and stock/bond market move will also have some small intraday impact with support at 0.8690-95 and resistance at 0.8750 and 0.8800, current level stay’s in cautious and choppy range trading more likely to be preferred.
GOLD higher further on broad USD weakness, higher commodity currencies and oil effect. US adapts the weak USD policy and global protectionism risk still further support the GOLD and still increasing momentum after going over the last year’s top at 1357.50. Today ECB meeting, US data and stock/bond market will dominate the intraday action with support at 1350 and resistance at 1365 and 1375 still prefer to keep buying on dips with tight stop strategy.
Silver higher in the same direction with GOLD and the broad USD weakness still driven more upside momentum for silver in short term. Today’s ECB meeting, US data and stock/bond market move will have some intraday impact with support at 17.40-45 and resistance at 17.70 which still prefer to keep on buying dips with tight stop strategy.