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Market worry of trade war after Trump’s adviser resigns


EURUSD Pair
EURUSD continues to grid up in ahead of tomorrow’s ECB meeting. And also with constant EUR cross demand as investors seeking for EUR beside the tradition safe heaven trade. Today the France trade balance and current account, which both slightly lower than expected, and later Eurozone Q4 GDP data, US ADP Employment Change, Non-Farm Productivity Q4 and trade balance, unit labor coast as well as stock/bond market move will have some intraday impact. With support at 1.2380-85 and resistance at 1.2490, still to prefer the buy on dips with tight stop strategy.

USDJPY Pair
USDJPY turns back after the rather short-lived correction and market remain to worry for the trade war after Trump’s top economic adviser resigns. Also lower Nikkei and exporter hedge selling continues to add more pressure for the pair in short term. Today the US trade balance, ADP data, unit labor cost and non-farm productivity as well as stock/bond market move will dominate the intraday action. With support at 105.50 and 105.25 with resistance at 106.00 and 106.30, current levels still prefer in range consolidation pattern.

GBPUSD Pair
GBPUSD continues to be in choppy range pattern and no sign for one way market with the Brexit uncertainty and mixture response from GBP cross relating to trade war fear. Also broad USD weakness effect driven GBP to go higher and expected a rather short-lived with GBP cross stays under pressure. Today the US data and stock/bond market move will have some intraday impact. With support at 1.3860 and 1.3820 with resistance at 1.3930, still to prefer in range trading pattern continuation.

USDCHF Pair
USDCHF goes higher despite of market still concerning for trade war. And higher EUR/CHF over 1.165 driven more demand for the pair but overall stock market remains fragile at higher level as well as the risk sentiment might expect capping further rallies for the pair. Today the US data and stock/bond market move will have some intraday impact. With support at 0.9360 and resistance at 0.9410, still to prefer in range trading with tight stop strategy.

EURJPY Pair
EURJPY capping under 132 (NY high 131.87) and retraces following the USDJPY move. Also some risk off sentiment after Trump’s top economic adviser resigns. Today the risk sentiment and US data as well as stock/bond market move will still direct the cross action. With support at 130.45 and resistance at 131.50, still to prefer in range trading with tight stop strategy.

EURGBP Pair
EURGBP gradually grids higher with the broad EUR cross demand as well as further short covering ahead of tomorrow ECB meeting. Today the Eurozone Q4 GDP and US trade balance, Non-Farm productivity, unit labor cost and ADP data will have some intraday impact. With support at 0.8900-10 and resistance at 0.8990-00, still to prefer keeping buy on dips with tight stop strategy.

Gold Bars
GOLD steadily moving up with some short covering and renew in fear of trade war after Trump’s top economic adviser resigns. Lower of US and Japan stock might also driven some risk off sentiment and support the GOLD in short term. Today the US trade balance, ADP data, non-farm productivity, unit labor cost as well as stock/bond market move will dominate the intraday action. With support at 1325 and resistance at 1338 and 1343, still to prefer buy on dips with tight stop strategy.

Silver Bars
Silver higher in the same direction of GOLD. The overnight weak USD as well as the renew worries for trade war which driven the short covering of silver but in orderly move overall. Today the US data and stock/bond market move will have some intraday impact. With support at 16.40-50 and resistance at 16.90-00, still to prefer buy on dips with tight stop strategy.


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