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Some weakness of US stock driven the broad USD lower slightly


EUR/USD grid up gradually on better Germany trade/current account surplus as well as continue EUR cross demand, also some weakness of US stock driven the broad USD lower slightly and that helping more rebound for EUR, today EcoFin Meeting and US NFIB Business Optimism Index, IBD/TIPP Economic Optimism Index and stock/bond market move will direct the intraday action, market stay cautious despite calm down for Spain Catalonia event and today prefer keeping buy on dips with tight stop strategy.

USD/JPY around similar level with yesterday and still in sideways consolidation despite Japan back from holiday and market remain cautious ahead of 22 Oct snap election and overall weak USD tone will still cap the upside run despite still in good demand on lower side, Nikkei higher despite slightly pullback on US stock and that supporting YEN cross and indirectly support the pair as well, support at 112.40 and resistance at 113.00 and 113.50; today prefer keeping buy on dips with tight stop strategy.

GBP/USD higher on continue short covering of GBP cross and also with the market reduce some pricing on Theresa May step down effect, broad USD weakness also helping GBP stabilize and some technical rebound further will remain, today UK Industrial / Manufacturing Production, trade and current account balance data will have some intraday impact, support at 131.00 and resistance at 132.30; today prefer in range trading with tight stop strategy.

USD/CHF around similar level with yesterday despite a higher EUR that reflect for a higher EUR/CHF effect, today broad USD weakness will expect capping the topside for USDCHF but overall uptrend remain intact in short term, earlier Swiss unemployment rate at 3.1% (expect 3.2%) have little impact for the pair, support at 0.9760 and resistance at 0.9830; today still prefer keeping buy on dips with tight stop strategy.

EUR/JPY higher gradually on stable USDJPY and slightly higher EURUSD effect, Asian stock higher and boost further risk sentiment and that will indirectly help the cross, today US data and stock/bond market move will have some intraday impact, support at 132.10-20 and resistance at 133.00 and 133.30; today prefer keeping buy on dips with tight stop strategy. EUR/GBP stay around yesterday level with bother EUR and GBP move offset each other, earlier Germany data better than expected will still have some support for the cross, later UK Industrial/Manufacturing Production, trade and current account balance might have some intraday impact, support at 0.8910 and resistance at 0.9000; today prefer trend following and keeping buy on dips with tight stop strategy.

GOLD higher on China back from holiday and overnight broad USD weakness and slightly pullback of US Stock effect, today US IBD/TIPP econ optimism index and NFIB Business optimism index as well as stock/bond market move will dominate the intraday action, N Korea, UK Brexit/Political news as well as Spain Catalonia issue rather calm down but uncertainty remain and that will keep demand on GOLD persistence as well as ETF side continue inflow; support at 1283 and resistance at 1290 and 1296; today prefer keeping buy on dips with tight stop strategy.

Silver higher gradually and over 17 handle in Asian session with broad USD weakness and strong GOLD effect, today US data and stock/bond market move will dominate the intraday action, support at 17 and resistance at 17.45; today prefer buy on dips with tight stop strategy.


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