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SILVER lower overnight on the same direction of GOLD affected highly by USD


EUR/USD around similar level with yesterday despite USD strength with higher UST yield and rising US stock effect, most EUR cross demand support EUR and also cautious ahead of ECB meeting (expect tapering announcement with ECB APP reduced to EUR30 Billion per month for an extension period of 9 months) and today Germany IFO and US data will have some intraday impact, support at 1.1735 and resistance at 1.1850; today prefer keeping buy on dips with tight stop strategy.

USD/JPY continue grid higher but capping under 114.00-10 region with some large option defense selling still exist for today, Japan Life insurance company increasing foreign bond purchase in next 6 months will have little impact on currency so far but higher UST yield and US stock market will still support the risk sentiment and the currency, today US Durable Goods Orders, MBA Mortgage Applications, New Home Sales and stock/bond market move will have some intraday impact, technically, the short-term bullish trend remains on price above 112 level; today support at 113.50 and resistance at 114.10 and 114.50; still prefer keeping buy on dips with tight stop strategy.

GBP/USD lower gradually on cross-selling with some unwinding GBP long position with little progress for Brexit and recent data lower than expectation effect, also higher USD will add some pressure for GBP in short-term, today UK GDP data will have some impact and that will expect to influence the BOE decision for Nov meeting outcome, also US data and stock/bond market move will also have some intraday impact, support at 1.3080-90 with resistance at 1.3170-80; today prefer in range trading with tight stop strategy.

USD/CHF higher gradually with strong EURCHF (o/n high 1.1660 is the highest since Jan 2015 the pegged 1.20 removed by SNB) and broad USD strength effect, higher UST yield and another record higher of DJI driven more upside momentum for the currency, today US data and stock/bond market move will have some intraday impact, support at 0.9870 and resistance at 0.9965 and 1.0010; today prefer to buy on dips with tight stop strategy.

EUR/JPY higher gradually with strong USD and further improving risk sentiment, USDJPY test 3 months high at 114.10 also support the cross indirectly, besides, higher US stock and rising UST yield also adding more upside momentum for the cross, today US data and stock/bond market move will have some intraday impact, ECB meeting tomorrow are mainly focused as well, support at 133.75 and resistance at 134.50; today prefer to buy on dips with tight stop strategy.

EUR/GBP higher gradually on broad EUR cross higher and GBP cross weakness effect, market pricing for ECB tapering as well as recent weak UK data and lack of progress for Brexit negotiation is driven the pair higher, some months end demand also supporting the cross, today UK GDP data and German IFO data will have some intraday impact, support at 0.8930 and resistance at 0.8975 and 0.9000; today prefer keeping buy on dips with tight stop strategy.

GOLD lower slightly on broad USD strength and higher UST yield together with strong DJI still adding some pressure for GOLD but ahead of ECB meeting and Catalon congress meeting tomorrow, there still have some uncertainty going ahead and physical demand will also support the GOLD on the lower side, today US MBA Mortgage Applications, Durable Goods Orders, New Home Sales data as well as stock/bond market move will dominate the intraday action, support 1269 and resistance at 1283; still prefer keeping buy on dips with tight stop strategy.

SILVER lower overnight on the same direction of GOLD and higher USD effect, market still concern for next Fed Chairman nomination and ECB meeting outcome, strong US stock performance and higher UST yield also add some pressure for silver but global uncertainty remain and physical demand will still support the silver on lower side, today support at 16.80 and resistance at 17.25 and 17.45; still prefer keeping buy on dips with tight stop strategy.


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