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USDCHF lowers further on broad USD weakness


EURUSD Pair
EURUSD hitting its fresh year high of 1.2335 on broad USD weakness and USD index goes below 90 in Asian session despite US stock closing at record level. A rising concern for protectionism hurts the USD overall and sentiment remains fragile. But overbought technical as well as the upcoming ECB meeting tomorrow will still attracts profit taking on top. Overall the pair more likely still expecting range consolidation with support at 1.2245 and resistance at 1.2345. Later Eurozone, Germany and US PMI data will also have some intraday impact and still prefer range trading with tight stop strategy.

 

USDJPY Pair
USDJPY broke 110 pivot level to 109.80 earlier but the lack of follow through selling on lower end hints more sideway consoldiation with broad USD weakness which remains capping the topside gains. Nikkei lower despite higher US stock and overall risk sentiment remains steady from the start. Today US PMI data, existing home sales and stock/bond market move will have some intraday impact with support at 109.80 and 109.50 with resistance at 110.30 and 110.50 which still prefers in range trading with tight stop strategy.

 

GBPUSD Pair
GBPUSD hits a fresh year high of 1.4049 on the same direction of EUR. And weak USD tone continues to support the GBP on lower side despite technical overbought and cautious of the remaining Brexit negotiations. Today UK’s job data and US PMI, existing home sales and stock/bond market move will have some intraday impact with support at 1.3965 and 1.3915 with resistance at 1.4050-60 and then 1.4100. Prefer still the in range trading with tight stop strategy.

 

USDCHF Pair
USDCHF lowers further on broad USD weakness and EUR strength, as well as some pullback of EURCHF concerning for trade protectionism risk. Today US PMI data and existing home sales as well as stock/bond market move will have some intraday impact with support at 0.9510 and resistance at 0.9580. Do prefer the in range trading with tight stop strategy.

 

EURJPY Pair
EURJPY  still around in similar levels from yesterday and some concerns for protectionism risk are adding some pressure for the cross. Some profit taking after recent gains will also slow the upside move of the pair as the market remains focus on the direct USD dealings rather than the cross passive response this week. US stock goes higher but Nikkei goes lower as the offset leads more steady risk sentiment. Today US PMI data, existing home sales and stock/bond market move will have some intraday impact with support at 134.90-00 and resistance at 136.00. Prefer the in range trading with tight stop strategy.

 

EURGBP Pair
EURGBP is in narrow range consolidation and still holding above 0.8750 support, as it remains constructive in short term despite market concentrate with direct USD dealings. Today Germany, Eurozone and US PMI data, UK job data, US existing home sales are some intraday impact with support at 0.8750 and resistance at 0.8810-20 and then 0.8865. Prefer to keep on buying dips with tight stop strategy.

 

Gold Bars
GOLD goes higher on weak USD (3 years low and index below 90) with solid demand on GOLD ETF side (climbed to 2254 tons as of Tuesday, highest since May 2013) that driven GOLD to higher to over 1340 earlier. Fragile USD sentiment and rising concern for protectionism risk still supporting the GOLD in short term. Today US PMI data, existing home sales and stock/bond market move will have some intraday impact with support at 1333 and 1340 with resistance at 1350 and 1355. Keep preferring in buying dips with tight stop strategy.

 

Silver Bars
Silver also goes higher gradually as in the same direction of GOLD and weak USD still supports silver uptrend in short term. Today US data and stock/bond market move will have some intraday impact with support at 17 and resistance at 17.45 which still prefer to keep buying on dips with tight stop strategy.


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