EURUSD pulls back to 1.2351 in Asian session before rebounding back. And many are in panic effect selling the Yen cross as the Equity market crashes down after 2nd consecutive days of DJI large correction takes effect. Asian stock market and early European stock market go low but the impact in EUR reduces with some cross demands for EUR on the lower side remains to support the pair. Today the strong German Factory Order and solid growth hints in remaining Eurozone, the German Buba President Weidmann speech as well as US Trade Balance and JOLTs Job Openings data as well as stock/bond market move will dominate the intraday action with support at 1.2350 and 1.2385, resistance at 1.2470 and 1.2535 still to prefer buying on dips with tight stop strategy.
USDJPY hitting the low of 108.46 in Asian session after Nikkei goes down to 1071 points or 4.73% at 21610.24 which driven more risk off selling and lower YEN cross indirectly adding more pressure for the pair. Today US data and stock/bond market move will direct the intraday move. Kuroda’s conitnues to unchanged current QE and environment will not raise up the YCC rate which driven some profit taking on lower side. With support at 108.40-50 and resistance at 109.60-70, still to prefer the choppy range trading pattern.
GBPUSD lower on broad GBP cross selling with lower equity. Carry trade unwinding as well as the concern on Brexit negotiation that starts today until the end of the week. Today the equity market move and any Brexit speech/headlines will direct the intraday action with support at 1.39 and resistance at 1.4 prefer to keep selling on rallies with tight stop strategy.
USDCHF follows the lowering USDJPY down to 0.9304 earlier but it’s higher compared to the overnight low at 0.9293. Supported by the steady EURCHF cross which in quick rebound effect from low 1.1514 to 1.1589, the Equity correction will driven more risk off sentiment and that will capping the topside for the pair in short term until the equity stabilize. Today the US data and stock/bond market move will dominate the intraday actions with support at 0.9260 and 0.9300 with resistance at 0.9350-55 and 0.9385 still to prefer selling on rallies with tight stop strategy.
EURJPY sharply lowers in Asian session down to 133.96 before rebounding over 135.70. Currently with having more short coverings after Kuroda speech, both EUR and USDJPY in rebounding effect despite a lower in the equity market. Today risk sentiment remains to dominate the move but market got short on lower side and will still see more support around yesterday NYC 135.00 region. Still to prefer the in large choppy range trading pattern continuation.
EURGBP grids up gradually and the cross more steady despite risk off sentiment. The better Germany Factory order and UK/EU Brexit negotiation uncertainty remains to add some pressure for the GBP and GBP cross in short term. Today the equity market and US data will have some intraday impact with support at 0.8840-50 and resistance at 0.8940-50 to still prefer buying on dips with tight stop strategy.
GOLD higher gradually with equity crashes down and risk off sentiment continues to effect as well as physical demand persistence on lower side. Today the US data and stock/bond market move will dominate the intraday action with support at 1336 and resistance at 1345 and 1350 still to prefer buying on dips with tight stop strategy.
Silver goes up slightly in the same direction with GOLD and risk off sentiment remains to support the metal in short term. Today the US data and stock/bond market move will have some intraday impact with support at 16.7 and resistance at 17.20-25 as the current level remains to prefer buying on dips strategy.