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Trump will announce tax plan today


EURUSD

EUR/USD grid lower on broad USD recovery after Yellen hints December hikes as well as Trump will announce tax plan today and might path the road for Fed tapering balance sheet running further with higher UST yield.

The US stock goes around flat but stays in higher levels, yet support USD rebounce.

Today US Durable Goods Orders and Pending home sales. The stock/bond market-move will dominate the intraday action, support at 1.1700 and resistance at 1.1810 and 1.1850.

Today prefer to buy on dips with tight stop strategy.

USDJPY

USD/JPY goes higher with stock steady (US stock around flat and Nikkei -0.31%) and rising of UST yield (10 years yield 2.24%) boosting USDJPY higher. Some short covers after no follow through on risk off trades create on North Korea tension leading higher JPY cross and indirectly support the pair.

Today, Trump tax plan announcement and stock/bond market-move will direct the intraday action, support at 112.30 and resistance at 113 and 113.30.

Today prefer to buy on dips with tight stop strategy.

GBP/USD Currency

GBP/USD retrace down on short covering for GBP cross (GBPJPY, GBPCHF, EURGBP) as well as some stop trigger earlier below 1.34 region but overall Brexit negotiation will still add pressure for GBP especially approach Conservative Party Annual Congress (Oct 1-4) and that will overrule the pricing of BOE hike rate in November effect in short-term.

Today UK CBI Distributive Trades Survey and US data, as well as stock/bond market-move will have some intraday impact, support at 1.3350 and resistance at 1.3450; technical oversold and might get some rebounce in coming sessions despite higher EURGBP in the morning session.

Today prefer to buy on dips with tight stop strategy.

USD/CHF Currency

USD/CHF higher on broad USD strength and overall tone remain constructive and some renounce for EURCHF also indirectly helping the recovery pattern.

Today US data and stock/bond market might have some intraday impact, support at 0.9700 and resistance at 0.9800.

Today prefer to buy on dips with tight stop strategy.

EUR/JPY Currency

EUR/JPY higher on short covering after no further news from North Korea as well as broad USD strength after Yellen speech leading higher USDJPY and indirectly helping the cross.

Today US data and stock/bond market might have some intraday impact, support at 132.20 and resistance at 133 and 133.50.

Today prefer to buy on dips with tight stop strategy.

EUR/GBP Currency

EUR/GBP higher gradually after yesterday testing 0.8750 and holding well with GBPUSD lower driven the cross higher. Today UK Distribution Trade Survey and US data as well as stock/bond market will have the small intraday impact, technical rebounce, will just start and expect more extension in coming sessions, support at 0.8750 and resistance at 0.8810 and 0.8850.

Today prefer to buy on dips with tight stop strategy.

GOLD pullback quickly after lack of further news of North Korea issue and tension reduce driven more short-term long liquidation overnight, price action suggestion some sideways consolidation back to the market with uncertainty still attract buyer on lower side with topside that capping with broad USD strength and expectation for Fed Dec hike after yesterday Yellen speech as well as today Trump might announce the tax plan effect, besides, US data and stock/bond market move might also have small intraday impact, support at 1290 and resistance at 1300; today prefer in range trading with tight stop strategy.

Silver Currency

Silver lower gradually in the same direction of GOLD and broad USD strength still adding some pressure for silver especially no further news on North Korea side, also hawkish Yellen speech on Dec hike will give some further support of USD and boost UST yield and that leading some pressure for silver in short-term, today US data, Trump tax plan announcement and stock/bond market move will have some intraday impact, support at 16.65 and resistance at 17.00-05; today prefer in range trading with tight stop strategy.


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