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The steady response of EUR on Italian Hung Parliament


EURUSD Pair
EURUSD grids up gradually with cross demand and risk off sentiment. The weekend’s Italian election driven for hung parliament scenario are mostly expected by the market. Also German SPD vote for joining Merkel’s Government are good for EUR overall. Today the Eurozone & US PMI data as well as US ISM non-manufacturing PMI together with the stock/bond market move will direct the intraday action. With support at 1.2250 and resistance at 1.2365 to still prefer buy on dips with tight stop strategy.

USDJPY Pair
USDJPY grids down with Nikkei lowering by 0.66% at 21042.09 which ended at lowest level since October as well as the continues effect of risk off sentiment continuation. Today the US PMI, ISM non manufacturing and stock/bond market move will have some intraday impact, barrier at 105 and market talks exporters offering lower to 106 which will still keeping USDJPY under pressure in short term. With support at 105 and resistance at 105.75 to still prefer sell on rallies with tight stop strategy.

GBPUSD Pair
GBPUSD remains in choppy range trading pattern with the uncertainty on Brexit remains. And with the risk off sentiment also driven more GBP cross selling. Today the US data and stock/bond market move will have some intraday impact. With support at 1.3710 and resistance at 1.3835, to still prefer in range trading with tight stop strategy.

USDCHF Pair
USDCHF slightly lower with overall risk off sentiment and slightly lower EURCHF effect. Also the broad USD weakness also driven some pressure for the pair. Today the US data and stock/bond market move might have some intraday impact. With support at 0.933 and resistance at 0.939, preferring still the sell on rallies with tight stop strategy.

EURJPY Pair
EURJPY around similar level from last Friday as the risk off sentiment remains adding some pressure for the cross. EUR in steady response to Italian Hung Parliament outcome and positive SPD vote for Merkel government event. Today the Eurozone and US PMI data and stock/bond market move might have some intraday impact. With support at 129 and resistance at 130.20, still to prefer sell on rallies with tight stop strategy.

EURGBP Pair
EURGBP slightly grids up and weekend Italian election. With the chance of Hung Parliament as well as Germany SPD vote to support Merkel’s government successfully that together with uncertainty on Brexit issue still positive for the cross. Today the Eurozone PMI and stock/bond market move might have some intraday impact. With support at 0.8880-00 region and resistance at 0.8990-00 region, still to prefer keeping buy on dips with tight stop strategy.

Gold Bars
GOLD gradually grids higher with Asian stock lowers down and further risk off sentiment driven some safe heaven buying. Italian election ended with a chance to Hung Parliament also adding some support for the GOLD. Asian stock down and steady yield with later US data and stock/bond market move will dominate the intraday action. With support at 1323 and resistance at 1330 and 1335 still to prefer buy on dips with tight stop strategy.

Silver Bars
Silver grid up sightly on the same direction with GOLD and further risk off sentiment remains to support the GOLD in short term. Today the US data and stock/bond market move will direct the intraday action. With support at 16.40-.45 and resistance at 16.70-75 and 16.90, still to prefer buy on dips with tight stop strategy.


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