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GOLD slightly going higher as the market stock go low


EURUSD Pair
EURUSD up slightly but still staying in range consolidation around 1.22-1.23 most of the time. As equity market drops down depresses risk sentiment and that will still have some impact for EUR cross and indirectly driven the EUR move. Overall the EUR bullish trend remains on price above 1.21 and today the US data, stock/bond market move will dominate the intraday action. With support at 1.2210-20 and resistance at 1.2300-10 to still prefer in range trading with tight stop strategy.

USDJPY Pair
USDJPY lowers gradually as the US and Japan stocks melting down overnight. Risk off sentiment driven more YEN cross selling and the US data and stock/bond market move will dominate the intraday action. With support at 108.60 and resistance at 109.70 still preferring in range trading with tight stop strategy.

GBPUSD Pair
GBPUSD roller coaster move overnight with BOE keeping the rate and asset purchase to be unchanged as expected. But hawkish statement raises up the growth and inflation forecast that leads for a more surging up on yield. Putting the earlier rate hike expectation drives GBP to go higher up to 1.4070 before lowering back as the stock market lowering sharply. In which driven risk off and GBP cross selling to lead all GBP pair gains from BOE before stabilizing around 1.3912 close around the announcement time. Earlier the GBP goes high boosted by the BOE broad bent hawkish speech for more possible rate hike and market properly not risk in. Also some of the GBP cross short coverings ahead of today’s Industrial/Manufacturing Production data, upcoming US data and stock/bond market move will also have some intraday impact. With support at 1.3910-20 and resistance at 1.4020 and then 1.4070 the current level slightly prefer in range trading with tight stop strategy.

USDCHF Pair
USDCHF lower on risk off sentiment with DJI goes down another day with 1032.89 points or 4.15% that driven more safe heaven flow and selling on EURCHF cross also indirectly adding pressure for the pair. Today the US data and stock/bond market move will still have some intraday impact with support at 0.9320-30 and resistance at 0.9420-30 to still prefer in lower range consolidation pattern continuation.

EURJPY Pair
EURJPY lower slightly on broad YEN cross selling with global stock market lowering which driven more risk off sentiment and today still to expect more correlation move with risk trades. The later US data and stock/bond market move will have some impact with support at 138.80 and resistance at 134.80 still preferring the keeping range trading with tight stop strategy.

EURGBP Pair
EURGBP dips down on hawkish BOE but sounded fundamental of EUR and safe haven flow to eurozone expected if stock market continues to be in choppy lower pattern. And that will give some support for the cross in short term as technical base building remain on an overall bullish trend. Today the UK Industrial/Maufacturing Production and US data as well as stock/bond market move will direct the intraday action with support at 0.8770 and resistance at 0.8875 prefer still to keep buying on dips with tight stop strategy.

Gold Bars
GOLD higher slightly with risk off sentiment after stock lowers down. But a higher UST yield remain capping the topside of GOLD as well as steady USD index move. Today the US data and stock/bond market move will have some intraday impact with support at 1310 and 1305 with resistance at 1320 and 1328 still to prefer in range trading with tight stop strategy.

Silver Bars
Silver higher slightly with the same direction of GOLD and more base building in short term on current risk off sentiment remains higher. Today the US data and stock/bond market might have some intraday impact with support at 16.25 and resistance at 16.65 still to prefer in range trading with tight stop strategy.


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