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GOLD in lower side consolidation against strong USD


EURUSD Pair
EURUSD grids up slightly after sharp pulls back last week and some month end EURGBP demand will support the pair. Holiday week will depress any one way movement, Germany retail sales around previous data and later Germany CPI and US data will have some intraday impact. With support at 1.21 and resistance at 1.2210, still to prefer in range trading with tight stop strategy.

USDJPY Pair
USDJPY in tight move with Japan’s holiday and some sideway consolidation more likely. Today US data and stock/bond market move will have some intraday impact. With support at 108.70 and resistance at 109.50, still to the prefer in range trading with tight stop strategy.

GBPUSD Pair
GBPUSD goes down further after weak Q1 GDP and EU Barnier seeing no Brexit deal in effect before Irish border issue to solve out. Technical oversold but recent soft data, BOE’s Carney dovish policy stance and worry for Brexit all driven GBP sharply re-pricing last week. Short term still under pressure under 1.4 handle and today month end and light data will see some sideway consolidation. With support at 1.3750 and resistance at 1.3810, still to prefer in range trading with tight stop strategy.

USDCHF Pair
USDCHF remain in sideway consolidation with EUR stalling around 1.2130 region in early start. EURCHF remains firm and will indirectly support the pair on lower side. Today US data and stock/bond market move will have some intraday impact. With support at 0.9840 and resistance at 0.9920, preferring still the in range trading pattern continuation.

EURJPY Pair
EURJPY grids higher slightly on some short covering for EUR cross and also with steady risk sentiment with stock and bond yield both in tight move. Today US data and stock/bond market move will have some intraday impact. Japan holiday also depress some flow intraday. With support at 131.90 and resistance at 132.85, still to prefer in range trading with tight stop strategy.

EURGBP Pair
EURGBP up sharply last Friday after weak UK Q1 GDP and with worry for Brexit as well as market repricing for not hiking in BOE at May meeting effect. Today some month end demand might support the pair and trend remain higher gradually in short term. The Germany retail sales earlier has nothing much impact and later Germany CPI and US data as well as stock/bond market move will have some intraday impact. With support at 0.8790 and resistance at 0.8880, still to prefer the buy on dips with tight stop strategy.

Gold Bars
GOLD in tight move with lower side consolidation against strong USD trend. Overnight both bond yield and stock in rather tight move which driven some sideway move on GOLD. Today US data and stock/bond market move as well as month end flow will dominate the intraday action. With support at 1315 and resistance at 1322, still preferring in tight range trading pattern continuation.

Silver Bars
Silver in tight range consolidation in the same direction with GOLD and month end flow as well as US data and stock/bond market move will direct the intraday action. With support at 16.4 and resistance at 16.7, still preferring the in range trading with tight stop strategy.


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