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Soft Brexit sign grids up GBPUSD and by weak USD tone


EURUSD Pair
EURUSD grids up further on Nowthony’s comments for possible hike rate after the summer despite ECB spokesman denied saying that his own view but hawkish bias matching with Draghi view. Today Draghi speech also have some daily focus as well as US CPI data and FOMC minutes. With support at 1.2325-30 and resistance at 1.24 and 1.2430, still to prefer buy on dips with tight stop strategy.

USDJPY Pair
USDJPY faces some selling pressure ahead of 107.50 region despite of higher US stock overnight. Lower Nikkei together with geopolitical situation uncertainty in Syria adding some pressure for the pair but risk sentiment remain constructive after Xi speech and Trump welcome comments to play down some trade war risk. Overall USDJPY remains in sideway consolidation between 106.40-107.50 region, still prefer the keeping sell on rallies with tight stop strategy.

GBPUSD Pair
GBPUSD grids up on more sign for soft Brexit and also with some talk for BOE May hike effect. Weak USD tone also supports the GBP and cross stable will see more extension in short term. Today the UK Industrial/Manufacturing Production and trade balance as well as US CPI and FOMC minutes will have some intraday impact. With support at 1.4160-65 and resistance at 1.4230 and 1.4270, still prefer the buy on dips with tight stop strategy.

USDCHF Pair
USDCHF lowers on broad USD weakness and in effect of higher EUR. Higher EURCHF will indirectly support the pair on lower side but soft tone remains in short term. Today the US data and stock/bond market move as well as FOMC minutes will direct the intraday action. With support at 0.9520 and resistance at 0.9580, still to prefer the sell on rallies with tight stop strategy.

EURJPY Pair
EURJPY grids higher with risk on sentiment and higher US stock that driven more risk appetite despite of USDJPY stalling. But EUR strength still support the cross in short term. Today the US data, Draghi speech and FOMC minutes will direct the intraday action. With support at 132.10-20 and resistance at 133.00-10, still to prefer in range consolidation pattern.

EURGBP Pair
EURGBP remains in tight range consolidation and base building around 0.87 that will continue in short term. Today the UK data, Draghi speech and US FOMC minutes, CPI will have some intraday impact. With support at 08690-00 and resistance at 0.8770-80, still to prefer the buy on dips with tight stop strategy.

Gold Bars
GOLD higher with weak broad USD, geopolitical situation uncertainty in Syria and the effect of higher commodities price despite of USD stock rebound and 10 years UST yield steady around 2.8%. Today the US CPI data and FOMC minutes will have some intraday impact, risk sentiment and stock/bond market move also have some influence. With support at 1335 and resistance at 1355, still prefer the buy on dips with tight stop strategy.

Silver Bars
Silver higher gradually in the same direction with GOLD. And weak USD remains helping the Silver rebound. Today the US data, FOMC minutes and stock/bond market move will direct the intraday action. With support at 16.45 and resistance at 16.80, still to prefer buy on dips with tight stop strategy.


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    Research Risk Warning

    At Hantec Global Ltd we provide an execution only service. Any opinions expressed by analyst Richard Perry should not be construed as investment advice or an investment recommendation. This report does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. Forex and CFDs are leveraged products which can result in losses greater than your initial deposit. Therefore you should only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved, seeking independent advice if necessary prior to entering into such transactions.