EURUSD around similar level from yesterday despite of Italy bond yield coming down. But Spanish Rajoy no-confidence vote today will still depress investors for aggressive positioning. Also Germany, Eurozone Manufacturing PMI as well as US NFP data are the focus for the day. Trump decision for tariff driven more negative risk sentiment in short term. With support at 1.1640 and resistance at 1.1750, still prefer more technical rebound and keeping buy on dips with tight stop strategy.
USDJPY grids up on some short covering but BOJ reduces JGB’s purchase as testing the market will add some pressure for USDJPY on topside. JPY cross remain the focus in near term USDJPY direction. Today US NFP data the key focus and any surprises will driven further action. With support at 108.40 and resistance at 109.30-40 and then 109.70-80, still to prefer sell on rallies with tight stop strategy.
GBPUSD rebounded to 1.3346 overnight before turning back as the market remain cautious with risk sentiment fragile and worry for Brexit remain high. Today UK Manufacturing PMI and US NFP data are the intraday focus. Support at 1.3250-60 and resistance at 1.3380, still to prefer buy on dips with tight stop strategy.
USDCHF around similar level from yesterday and most steady EURCHF driven some tight move that linked with EURUSD. Fragile risk sentiment and safe haven demand will still capping the topside for the pair. Today US NFP data and stock/bond market move will still have some intraday impact. With support at 0.982 and resistance at 0.989, still to prefer keeping sell on rallies with tight stop strategy.
EURJPY higher gradually despite of fragile risk sentiment with higher EURUSD and stable USDJPY leading the way up. Today Rajoy no confidence vote, German and Eurozone Manufacturing PMI data as well as US NFP data will be focused and any surprise will leading the next move. Support at 127.10 and resistance at 128.20, still prefer in range trading with tight stop strategy.
EURGBP higher gradually with month end demand overnight as well as higher EUR with Italy situation claim down a little bit. But today Rajoy no-confidence vote as well as US NFP data will still have some intraday impact. Also German, Eurozone and UK Manufacturing PMI data are also have some move if any surprises outcome. Support at 0.8760-70 and resistance at 0.8850, still to prefer keeping buy on dips with tight stop strategy.
GOLD pulls back slightly after repeating test of 1306-1307 resistance fails despite of fragile risk sentiment and Trump tariff impose action. Today Spain Rajoy’s no-confidence vote, Germany, Eurozone and UK manufacturing PMI data and US NFP data will be focused and any surprises will driven a choppy move. Support at 1297 and resistance at 1307 and 1310, still to prefer buy on dips with tight stop strategy.
Silver lower slightly in the same direction with GOLD and short term remain to follow GOLD and broad USD moves. Today US NFP data and Spain Rajoy no-confidence vote as well as risk sentiment will dominate the intraday action. Support at 16.40 and resistance at 17.00, still prefer the buy on dips with tight stop strategy.