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USDCHF remains to be in tight move to start the week


EURUSD Pair
EURUSD grids up higher on lower broad USD in the Asian session with the market cautious starting ahead of tomorrow’s Fed Chairman Powell testimony. And yield retraces slightly with staying under 2.9% that driven some lower USDas the month end demands also helping EUR. The ECB’s Coeure and Draghi speech as well as US Chicago Fed National Activity Index, New Home Sales and Dallas Fed Manufacturing Index as well as stock/bond market move will direct the intraday action with support at 1.2280 and resistance at 1.2400 still to prefer on buying dips with tight stop strategy.

USDJPY Pair
USDJPY dips down gradually with some pulling back of UST yield as well as the nothing special on Kuroda speech earlier with just repeating the current BOJ stance and broad USD weakness which remains USDJPY topside capping. Also YEN cross selling indirectly adding pressure for the pair and as the market talks with Powell might tolerate the inflation higher in order to sustain the economy growth which will also add some pressure for the yield and hurts the currency. The US data and stock/bond market move will have some intraday impact with support at 106.20 and resistance at 107.15 still prefer keeping the sell on rallies with tight stop strategy.

GBPUSD Pair
GBPUSD grids higher with broad USD weakness and market expects that this week’s Brexit talk to have more progress. The US data and stock/bond market move will have some intraday impact with support at 1.3960 and resistance at 1.4050 and 1.4100 to still prefer in range consolidation pattern continuation.

USDCHF Pair
USDCHF around similar levels from Friday with some stable EURCHF and EURUSD still directing the movement. Broad USD weakness might capping the topside but overall the pair remains in tight move on starting the week. The US data and stock/bond market move will have some intraday impact with support at 0.9330-35 and resistance at 0.9400-10 still prefer the in range trading with tight stop strategy.

EURJPY Pair
EURJPY in similar level from Friday as the market remain to focus the broad USD move. And steady risk sentiment still driven more sideway consolidation for the cross despite the price action remains for downside risk in short term. The US data and stock/bond market move will have some intraday impact with support at 130.90-00 and resistance at 131.90-00, still to prefer sell on rallies with tight stop strategy.

EURGBP Pair
EURGBP pulls back in Asian session with the effect of higher GBP but overall in orderly and slow move. The month end demands will still support the cross on start of the week and also the steady move on EUR with market staying cautious ahead of Italian election and German SPD voting both at March 4. The ECB’s Coeure and Draghi speech as well as US data and stock/bond market move will have some intraday impact with support at 0.8780 and 0.8750 with resistance at 0.8840 and 0.8880 still preferring buying dips with tight stop strategy.

Gold Bars
GOLD goes higher as the broad USD weakens and also with some short coverings ahead of tomorrow’s Powell testimony. The US data and stock / bond market move will have some intraday impact with support at 1333 and resistance at 1350 still prefer keeping the buy on dips with tight stop strategy.

Silver Bars
Silver grids up slightly in the same direction with GOLD and the weakening of broad USD remain to help the metal in short term. The US data and stock/bond market move will have some intraday impact with support at 16.65 and resistance at 17.00 still prefer buying on dips with tight stop strategy.


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