EUR/USD retrace slightly after some unwound of risk premium with North Korea calm down. The US economy states that the Hurricane Isma caused less damage than expected. Today UN vote for more sanctions for North Korea. No US data and risk-sentiment as stock/bond market moves, will direct the intraday action with support at 1.1970 and resistance at 1.2070;
Note: Today, prefer to buy on dips with tight stop strategy.
USD/JPY: Last week gap on unwound of risk premium with North Korea calm down over the weekend. In Asian session, stock market went higher and rebound of UST yield driven more short covering on USDJPY and JPY cross. Later today, UN will vote for sanction of North Korea and might still have some risk uncertainty. It will expect capping the topside on USDJPY for intraday. With support at 108.20-30 and resistance at 108.80.
Note: Today, prefer in range trading with tight stop strategy.
GBP/USD: Slightly lower in the broad USD rebound in Asian session trend continuation effects EUR at lower level. Today, UN will vote for North Korea sanctions and will watch for risk sentiment. The stock/bond market- move might also have some intraday impact. The short-term GBP is above 1.3 and remains at upside risk.
Note: Today prefer buy on dips with tight stop strategy.
USD/CHF: From Friday, NYC 0.9443 gap up on some unwound of risk premium effect. North Korea-geopolitical tension reduce will help both USDCHF and EURCHF to rebound. Today’s risk sentiment development and stock/bond market-move will direct the intraday action with support at 0.9480 and resistance at 0.9520.
Note: Today prefer in range trading with tight stop strategy.
EUR/JPY gap up with USDJPY gradually higher. Some risk premium was unwounded over the weekend with North Korea geopolitical tension reduced. Today no US data and risk-sentiment and stock/bond market move will have some intraday impact, with support at 130.10 and resistance at 130.55 and 131.00. Plus, slightly preferred to buy on dips with tight stop strategy for more correction rebound.
EUR/GBP gradually goes downs for correction in Asian session, with EUR/USD leg leading the cross movement in short term. Over the weekend, some risk premium was unwounded as North Korea’s geopolitical tension was reducing. Later today, UN will vote for more sanctions as the intraday focus. The stock/bond market-move might have some intraday impact as well, with support at 0.9090 and resistance at 0.9170.
Note: Today slightly prefer buy on dips with tight stop strategy.
GOLD: On Friday, gold hit a year high of `1357.50 with risk premium building but comes down immediately after reducing the North Korea geopolitical tension.
Hurricane Isma caused less damaged than expected.
Today, In the Asian session stock market is higher and UST yield rebound to add small pressure for GOLD, but the uptrend for GOLD remain intact on price above 1300.
UN votes for more sanctions to North Korea are focused, beside stock/bond market-move will also have some impact.
China GOLD reserved consistency increasing and real money demand still support the downside.
Note: The support at 1300 and 1325 and resistance at 1340 and 1345.
Silver slightly retrace, however, with tight move the same direction of GOLD and broad USD move.
As the geopolitical tension reduced in North Korea, Asian stock market at a higher level and rebound of UST yield might cause some pressure for silver correction but overall the uptrend remains intact.
The major intraday focus: stock/bond market-move, as well as UN vote for more sanctions to North Korea.
Note: The support at 17.7 and resistance at 18.30; still prefer buy on dips with tight stop strategy.