EURUSD stalling around similar level from yesterday with bias for higher in short term remains. But FOMC minutes shows Fed confidence with economy and slightly hawkish as strong majority worries on trade war that it will hurt economy which overall shows only marginally support for USD. Geopolitics tension in Syria still driven more risk off sentiment and overall EUR remain supportive on lower side. Today the ECB minutes and ECB’s Coeure, Weidmann speech will have some intraday impact. With support at 1.2325-30 and resistance at 1.2430, still to prefer buy on dips with tight stop strategy.
USDJPY coming lower with tension in Syria driven some risk off sentiment despite of stable YEN cross still after trade disputes between US/China cools down. And stock remains lower that overall still capping topside for USDJPY in short term. Today US initial jobless claims and import price data as well as stock/bond market move will have some intraday impact. With support at 106.40 and resistance at 107.10-20, still to prefer the sell on rallies with tight stop strategy.
GBPUSD around similar level from yesterday despite spiking up overnight to 1.4221 and turning back after FOMC minutes. Recent UK data shows weakening sign but market starts pricing for May hike which will have some support for GBP and GBP cross. Today BOE credit conditions survey and US data as well as stock/bond market move will have some intraday impact. With support at 1.4160-65 and resistance at 1.4230, still to prefer the buy on dips with tight stop strategy.
USDCHF slightly higher on USD rebound after FOMC minutes and some retracement of EUR after failing to overcome 1.2400 handle overnight effect. Geopolitics tension seems less affecting USDCHF and EURCHF so far and the US data and stock/bond market move will have some intraday impact. With support at 0.9520 and resistance at 0.9610-30, still to prefer sell on rallies with tight stop strategy.
EURJPY stalling above 132 despite geopolitical tension in Syria issue and market remains in constructive move after US/China trade war risk reducing. Stock market lower slightly and will capping the topside of the cross. Today US data and stock/bond market move will have some intraday impact. With support at 132 and 131.50 and resistance at 132.40 and 132.70, still to prefer in range trading with tight stop strategy.
EURGBP grid higher slightly but overall in slow and orderly move. Technical base building remains and little incentive for move after recent slightly weak UK data and slightly hawkish ECB speech recently. Today Eurozone Industrial Production, UK Credit condition survey, ECB;s Coeure and Weidmann speech might have some intraday impact. With support at 0.8700 and resistance at 0.8770-80, still to prefer buy on dips with tight stop strategy.
GOLD surged up 25 USD to 1365.25 overnight but still capping under year high 1366 driven by tension accelerate by US/Russia on Syria issue. And later comes down with the news about Trump not yet decided whether US airstrikes against Syria. Together with slightly hawkish FOMC minutes driven some profit taking and pullback to GOLD close around 1352.50 but overall still stand higher level. Today geopolitical situation development and risk sentiment remain to direct the intraday action. With support at 1345-46 and resistance at 1360, still to prefer keeping buy on dips with tight stop strategy.
Silver grids higher slightly after overnight run up to 16.8562 in the same direction with GOLD. Today Geopolitical development for Syria and risk sentiment will dominate the intraday action. With support at 16.45 and resistance at 17, still to prefer buy on dips with tight stop strategy.