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Nikkei going up and risk sentiment remain constructive


EURUSD Pair
EURUSD down further on higher UST yield that continues to drive more support for the USD recovery. Today German IFO data and US housing data will have some intraday impact, technical oversold and fundamental unchange for eurozone and expect some position adjustment before ECB meeting will stabilize EUR around 1.2150-80 region. Still prefer keeping buy on dips with tight stop strategy.

USDJPY Pair
USDJPY up further after the overnight break 108 and 108.50 resistance on broad USD strength and higher UST yield despite of US stock retracing slightly. Nikkei goes higher and risk sentiment to remain constructive but technical overbought for the pair might still in risk for some correction. With support at 108.50 and resistance at 109, still to prefer in range trading with tight stop strategy.

GBPUSD Pair
GBPUSD goes down on broad USD strength and market remain on dovish pricing for BOE policy stance after recent soft data and Carney speech, technical oversold and some position adjustment risk remains. Today UK Public Sector Net Borrowing and CBI Industrial Trend Survey might have some intraday impact. With support at 1.2890-00 and resistance at 1.4000-10, current level still prefer the in range trading with tight stop strategy.

USDCHF Pair
USDCHF grids up slightly on strong USD and higher UST yield effect. Today Swiss March trade surplus decreasing to CHF 1.7 billion from prior CHF 3.14 billion have little impact for the pair and some profit taking on EURCHF cross might further slow the upside gains. The US data and stock/bond market move will have some intraday impact. With support at 0.973 and resistance at 0.981, still to prefer in range trading with tight stop strategy.

EURJPY Pair
EURJPY grids up on higher USDJPY but lower EUR offset’s some upside pressure. And market to focus on direct USD move with cross being less affected, risk sentiment stable and expected two way flow around current level. Still to prefer in range trading with tight stop strategy.

EURGBP Pair
EURGBP around similar level from yesterday and market focusing on direct USD move with cross being less impact. Today German IFO and UK Public Sector net borrowing, CBI industrial trend survey might have some intraday impact. With support at 0.875 and resistance at 0.8820, still to prefer keeping buy on dips with tight stop strategy.

Gold Bars
GOLD down further to a 2 weeks low on strong USD and higher UST yield effect despite of US stock slightly retracing. Stable risk sentiment and short term technical oversold with physical demand below 1320 might have some support for the yellow metal. Today US data and stock/bond market move will have some intraday impact. With support at 1320-22 and resistance at 1335, still to prefer the buy on dips with tight stop strategy.

Silver Bars
Silver down on the same direction with GOLD and strong USD. Higher UST yield still adding some short term pressure for Silver but oversold technical will see more sign on stabilize around 16.50-60 region. Today US data and stock/bond market move will have some intraday impact. With support at 16.6 and resistance at 17 and 17.30, still to prefer buy on dips with tight stop strategy.


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