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GOLD slightly higher in the effect of USD weakness


EURUSD Pair
EURUSD grids up gradually with steady EUR cross improved after higher stock. And Xi earlier speech with positive tone over globalization and the opening up of China’s market boosting some risk trades. Today US PPI, Wholesale inventories and Fed’s Kaplan speech as well as stock/bond market move will have some intraday impact. With support at 1.2220 and 1.2285 with resistance at 1.2350 and 1.2400, still to prefer keeping buy on dips with tight stop strategy.

USDJPY Pair
USDJPY around similar level from yesterday despite of both US and Japan stock goes up and with some improvement for risk trade that helping the JPY cross rebound. Overall market remain cautious and fragile risk sentiment depresses any aggressive follow through buying with some profit taking and sellers around 107.20-50 region remains. Today US data and stock/bond market move will have some intraday impact, still prefer the keeping sell on rallies with tight stop strategy.

GBPUSD Pair
GBPUSD higher gradually to challenge the recent top range after the break 1.4100-10 resistance. And GBP cross also in steady move with some risk on sentiment in asian session. Today MPC member Haldane speech and US data, stock/bond market move will have some intraday impact. With support at 1.4110 and resistance at 1.4210, still to prefer the in range trading pattern continuation.

USDCHF Pair
USDCHF lower gradually with higher EUR and slightly weakening USD effect. Today risk sentiment improving after Xi speech and steady EURCHF will have some indirect support for the pair. But overall remains in range trading pattern more likely.

EURJPY Pair
EURJPY grids higher on both higher US and Japan stock. Some positive risk sentiment after Xi speech with open China market and positive tone over globalization effect. Today Fed’s Kaplan speech, PPI and wholesales inventories data as well as stock/bond market move will have some intraday impact. With support at 131.50 and resistance at 132.50, still to prefer in range trading with tight stop strategy.

EURGBP Pair
EURGBP around similar level from yesterday and some improvement of risk sentiment will have less impact for the pair. Overall the steady EUR cross tone will still supporting EUR/GBP on lower side. The cross remain in base building and downside are still supportive with both technical and macro funds demand. Today MPC member Haldane speech and later US data will have some intraday impact. With support at 0.8690-00 and resistance at 0.8770-80, still to prefer buy on dips with tight stop strategy.

Gold Bars
GOLD in tight range consolidation overnight and slightly grids higher with the USD weakness effect. Today some risk on sentiment and higher Japan stock are capping topside but the overall tone remains in sideway consolidation more likely.

Silver Bars
Silver higher slightly in the same direction with GOLD but the overall tone remains in sideway consolidation pattern despite of higher US and Japan stock. With UST yield still very steady around 2.8% (10 years) and fragile risk sentiment remains adding more cautious move for the market. With support at 16.40-45 and resistance at 16.65-70, still to prefer range trading with tight stop strategy.


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