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US holiday driven more position adjustment on EUR/USD


EUR/USD correction up gradually with some short covering on EUR cross after steady weekend and today US holiday also driven more position adjustment, fundamental for EUR unchanged and technical oversold may risk for further correction up, support at 1.1690-00 and resistance at 1.1800; today prefer buy on dips with tight stop strategy.

USD/JPY pullback slightly on Japan holiday but overall still stay in tight move around NYC (112.65) level and little incentive for one way direction, US holiday also depress large position carry and expect more steady move with technical risk for more upside test back to Friday 112.44 top still exist, today prefer buy on dips with tight stop strategy.

GBP/USD grid up from Friday close (1.3087) on some short covering with GBP cross pullback (EURGBP and GBPJPY) and near term still affected by political news and economic data, today US holiday and expect more steady move with support at 1.3060 and resistance at 1.3150 and 1.3180; today prefer keeping range trading with tight stop strategy.

USD/CHF narrow move with short term still follow the EUR action and steady EURCHF will still indirectly support the pair on downside, today US holiday and expect tight move on starts, support at 0.9760 and resistance at 0.9830; still prefer buy on dips with tight stop strategy.

EUR/JPY almost similar level with Friday and stock market higher driven more positive risk sentiment and today Japan and US holiday and less risk even over the weekend will still support the cross on lower side, intraday support at 132 and resistance at 133; today prefer buy on dips with tight stop strategy.

EUR/GBP pullback slightly after Friday testing 0.8995 top and some position adjustment after weekend no others political news from UK side and some position adjustment earlier, today US holiday and expect more technical driven move and short term still risks for more upside replacement to 0.9025-30 region, support intraday at 0.8900-10 and resistance at 0.8990-00 and then 0.9025-30; today prefer buy on dips with tight stop strategy.

GOLD higher on Friday on rumor for N Korea missile test and short covering ahead of China back from GOLDEN WEEK holiday and weekend calm down but gold still supportive after China back and demand from ETF side remain support the GOLD in short term, US holiday and some digestion of Friday move continue but bias remain on upside test, support at 1275 and resistance at 1288; today prefer buy on dips with tight stop strategy.

SILVER up on the same direction of GOLD and near term risk remain higher after China demand back from holiday and board USD replacement effect, today US holiday and expect more steady move, support at 16.85 and resistance at 17.25; today prefer buy on dips with tight stop strategy.


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