EURUSD around similar level from yesterday after Easter holidays but market remain cautious with Trump possible announcement for further tariffs on China and others that might impose more risk on trade war concern. Also market talk with large size option expiry on EUR around 1.2375 and 1.24 will expect limiting the move. With support at 1.23 and resistance at 1.2370-75, still to prefer keeping buy on dips with tight stop strategy.
USDJPY goes down to 105.67 in Asian session with lower Nikkei but recovery parts into European opening with risk sentiment remain fragile as cross YEN selling might still capping the topside on USDJPY, near term support at 105.70 and 105.40. Today the less US data and expect stock/bond market move will have some intraday impact. Current level still prefer in range consolidation pattern.
GBPUSD remains in tight range consolidation and UK back from Easter holiday with cautious mood. Today the UK Manufacturing PMI might have small intraday impact. With support at 1.4020 and resistance at 1.4070-80, still to prefer in range trading with tight stop strategy.
USDCHF still on the same level from yesterday and hitting a tight move overnight for more sideway consolidation with some cautious on risk sentiment on starting of the month. With support at 0.9500-10 and resistance at 0.9555-60, still preferring in range trading with tight stop strategy.
EURJPY slightly lower on broad YEN cross selling earlier with both lower DJI and Nikkei that driven for more risk off sentiment effect. Today the less US data and stock/bond market move will still have some intraday impact. With support at 130 and resistance at 130.80 and 131.10, still to prefer range trading with soft bias on current environment.
EURGBP lower slightly on GBP rebound earlier and cross remain in base building pattern. Today the Eurozone and UK Manufacturing PMI as well as risk sentiment will have some intraday impact. With support at 0.8740-50 and resistance at 0.8800-10, still to prefer buy on dips with tight stop strategy.
GOLD running up on lower stock and UST bond yield with market concern for risk of trade war and cautiously awaiting for Trump’s further announcement in the week. The China response for fighting back any new US tariffs at equal strength, value and scale news adding more concern for further development of global trade issue. Lower USD will also add some support for GOLD as well. Today the less US data and market resume normal after Easter holiday might see more trending market. With support at 1337.50 and resistance at 1345 and 1350, still to prefer buy on dips with tight stop strategy.
Silver goes up on the same direction with GOLD. Safe heaven with risk off sentiment and lower global stock also adding more support for the silver in short term. Today the US stock/bond market move might have small intraday impact. With support at 16.45 and resistance at 16.9, still prefer the buy on dips with tight stop strategy.