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USDCHF higher gradually on broad USD strength & EURCHF


EURUSD Pair
EURUSD continues to pullback from Friday but stabilize around 1.2250 support level with the higher UST yield and broad USD strength driven the move. This week ECB meeting is the key focus and recent slightly lower than expected data still affects more aggressive positioning for EUR topside. Today Germany/Eurozone/US PMI data and stock/bond market move will have some intraday impact. With support at 1.2250 and resistance at 1.2335, still to prefer the buy on dips with tight stop strategy.

USDJPY Pair
USDJPY grids higher despite of down US stock but higher Nikkei and higher UST yield driven the move. Also Herald news of North Korea Kim accepting the US inspection of nuclear test site also boost some risk trade and support for JPY cross overall. Today US data and stock/bond market might have some intraday impact. With support at 107.50 and resistance at 108, still prefer the in range trading with tight stop strategy.

GBPUSD Pair
GBPUSD continues to grid down after dovish Carney speech and market pulling back most of the May hike expectation which leading more weakness on GBP but technical oversold will see more support on GBP below 1.4. Today US data and stock/bond market move will have some intraday impact. With support at 1.3990 and resistance at 1.4080, still to prefer in range consolidation pattern.

USDCHF Pair
USDCHF higher gradually on broad USD strength and in effect of rising UST yield, the higher EURCHF also adding an indirect support for the pair. Today US data and stock/bond market move will have some intraday impact. With support at 0.97 and resistance at 0.977, still to prefer in range trading with tight stop strategy.

EURJPY Pair
EURJPY grids down slightly on weak EUR despite of the higher USDJPY and steady risk sentiment. Today US data and stock/bond market move will have some intraday impact, technical resistance strong above 133 and downside bids around 131.80-00 region. Slightly to prefer sell on rallies with tight stop strategy.

EURGBP Pair
EURGBP retrace slightly from 0.8791 top last Friday but overall trend remains in constructive with market pulling back the BOE rate hike in May that will support the cross. Focus will be on Thursday ECB meeting and today Eurozone/US PMI and stock/bond market move will have some intraday impact. With support at 0.8750 and resistance at 0.8810-20, still to prefer the buy on dips with tight stop strategy.

Gold Bars
GOLD grids down gradually on strong USD and higher UST yield effect in despite of US stock slightly retracing. Overall steady risk sentiment and N Korea situation more bright side ahead of Trump/Kim meeting also driven more risk trade and that hurting the GOLD in short term. Physical demand remains solid on lower side and trade issue disputes as well as Syria geopolitical situation remains unclear that will support the GOLD on lower side. Today US data and stock/bond market move will have some intraday impact. With support at 1330 and resistance at 1343, still to prefer keeping buy on dips with tight stop strategy.

Silver Bars
Silver pulls back slightly on the same direction with GOLD. Broad USD strength and higher UST yield remains adding some pressure for Silver. Today US data and stock/bond market move will have some intraday impact. With support at 17.00 and resistance at 17.50, still preferring to keeping buy on dips with tight stop strategy.


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