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Steady USD index and risk sentiment driven the gold some sideway consolidation


EUR/USD pullback after German yield lower and basically in narrow movement with news of ECB will reduce bond purchase from Jan 2018 to 30 Billion per month but overall still have little impact to the pair, EUR cross retrace slightly adding some pressure for EURUSD as well, today US retail sales and CPI the major data focus, as well as Fed’s speech and stock/bond market move, will direct the Intraday action, support at 1.1800 and resistance at 1.1880, today prefer in range trading with tight stop strategy.

USD/JPY lower further on further position adjustment and broad USD weakness effect and overall sideways consolidation tone ahead of 22 Oct snap election still highly likely, today US retail sales and CPI data as well as stock/bond market move will have some intraday impact, support at 111.50 and resistance at 112.45; today prefer in range trading with tight stop strategy.

GBP/USD higher after news of EU Barnier may offer the UK a 2-year transition period news that backs up from low 1.3122 to high 1.3261 on close and sentiment still very fragile with news and speech-driven market on any Brexit negotiation topic, besides, today US retail sales and CPI might also have some intraday impact, support at 1.3260 and resistance at 1.3350; expect more choppy move and slightly prefer to buy on dips with tight stop strategy.

USD/CHF higher slightly on lower EUR and steady EURCHF effect, today US data and stock/bond market move will have some intraday impact, support at 0.9700-10 and resistance at 0.9770-80; still prefer in range trading with tight stop strategy.

EUR/JPY pullback from NY top 133.19 down to 132.31 on both USDJPY and EURUSD lower effect with some profit taking ahead of weekend but Japans polls show Abe will have a big win on snap election may encourage more risk sentiment and steady stock market also support the cross, today US retail sales and CPI data will have some intraday impact, support at 132.00-10 and resistance at 133.50; today prefer to buy on dips with tight stop strategy.

EUR/GBP yesterday up to 0.9033 before turning back with most follow the GBPUSD action and rather steady EUR move will still drive the cross more correlation for GBP in today trading, Brexit negotiation news still has driven the move and later US retail sales and CPI might have small intraday impact, support at 0.8965 and resistance at 0.9033; today prefer keeping buy on dips with tight stop strategy.

GOLD around yesterday level with steady USD index and risk sentiment that driven the gold some sideway consolidation, today US retail sales and CPI might have some intraday impact as well as stock/bond market movement, support at 1285 and resistance at 1300; today prefer keeping buy on dips with tight stop strategy.

SILVER around similar level with yesterday and tight movement overnight and basically still follow the GOLD and broad USD direction, support at 17.10 and resistance 17.45; today US data and stock/bond market move will have some intraday impact, current level still prefer buying on dips with tight stop strategy.


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