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GOLD up slightly overnight on USDJPY


EUR/USD around similar level with yesterday and market remain cautious ahead of ECB meeting Thursday and more sideways consolidation with small bias on upside remain on expectation for taper coming, today German, France, Eurozone and US PMI data will have some intraday impact, support at 1.1735 and resistance at 1.1820; still prefer keeping buy on dips with tight stop strategy.

USD/JPY retraces down in slow motion after Abe big winning an election and some “Sell on Fact” going through but overall bullish trend remains intact on expecting BOJ policies extend and yield differential together with high stock will still support the pair on lower side, today US PMI data, Richmond Fed Manufacturing Index as well as stock/bond market move will dominate the intraday action, support at 113.30 and 113.00 with resistance at 113.85 and 114.10; today prefer to buy on dips with tight stop strategy.

GBP/USD up slightly but overall in dull range consolidation remains, market cautious despite May speech overnight to show some confidence for getting more progress on negotiation, US stock close down and yield steady will still help the GBP recovery, today US data and stock/bond market move will have some intraday impact, support at 1.3160-65 and resistance at 1.3230; today prefer in range trading with tight stop strategy.

USD/CHF higher slightly on higher EURCHF and steady USD move effect despite US stock retrace slightly, today Eurozone and US PMI data, US Richmond Fed Manufacturing PMI, as well as stock/bond market move, will have some intraday impact, support at 0.9810 and resistance at 0.9870 and 0.9900; today prefer in range trading with tight stop strategy.

EUR/JPY down slightly and mostly follow the USDJPY move and lower US stock but higher Nikkei offset the effect, steady risk sentiment and bullish USDJPY trend might support the cross in short-term, today US PMI, Richmond Fed Manufacturing Index and stock/bond market move will have some intraday impact, support at 133.30 and resistance at 134.50; still prefer buying on dips with tight stop strategy.

EUR/GBP lower slightly on GBP rebound and steady EUR effect, market remain cautious ahead of ECB meeting and tomorrow UK GDP data, today Eurozone and US PMI and US Richmond Fed Manufacturing Index will have some intraday impact, support at 0.8890-00 and resistance at 0.9055-60; today prefer to buy on dips with tight stop strategy.

GOLD up slightly overnight on USDJPY retrace and lower US stock with some short covering on GOLD on lower side, constant physical demand will remain to support the GOLD as well as global geopolitical uncertainty remain to exist, market stay cautious ahead of Trump nomination for next Fed Chairman as well as ECB meeting on Thursday; today US PMI data, Richmond Fed manufacturing Index and stock/bond market move will have some intraday impact, support at 1275 and 1269 with resistance at 1285 and 1290; today prefer keeping buy on dips with tight stop strategy.

SILVER higher slightly in the same direction of GOLD and broad USD retrace slightly will also support the silver move, today US data and stock/bond market move will dominate the intraday action, support at 16.90 and resistance at 17.45; today prefer keeping buy on dips with tight stop strategy.

 


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