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USDJPY going low and worries for US/China trade tension


EURUSD Pair
EURUSD gradually lower in Asian session with broad risk off sentiment as well as lower stock and weekend news that Trump planning to restrict Chinese companies investment in US technology firms as well as PBOC cuts RRR 0.5% in order to offset part of tariff pressure has driven more EUR and EUR cross selling. Short term sentiment remain mix with EUR might test back to 1.1500-50 region. Today Germany IFO data and US Chicago Fed National Activity Index, new home sales and Dallas Fed manufacturing Index together with stock/bond market move will direct the intraday action. Support at 1.1610 and 1.1550 with resistance at 1.1680, current level prefer sell on rallies with tight stop strategy

USDJPY Pair
USDJPY goes lower as Nikkei lowering as well. And worries also for US/China trade tension as well as on some JPY cross selling effect. Today US data and stock/bond market move will have some intraday impact. Support at 109 and resistance at 109.80-90, still to prefer sell on rallies with tight stop strategy.

GBPUSD Pair
GBPUSD lower on broad GBP cross selling and some risk off sentiment in Asia session, lower stock and worrying for trade tension remain dampening the risk sentiment in short term. Today US data and stock/bond market move will have small intraday impact. Support at 1.32 and 1.3170 and resistance at 1.3250-60, still to prefer sell on rallies with tight stop strategy.

USDCHF Pair
USDCHF lower slightly with some EURCHF selling and risk off sentiment driven some downside risk for the pair. Today Germany IFO data and US data, stock/bond market move will also have some intraday impact. Support at 0.9820 and resistance at 0.9890, still prefer sell on rallies with tight stop strategy.

EURJPY Pair
EURJPY lower on risk off sentiment and lower Nikkei and European stock still driven more selling pressure in short term. Trump plan to restrict Chinese companies investment in US might further increases tension with US/China trade issue and will hurt the cross as well. Today German IFO data, US data and stock/bond market move will have small intraday impact. Support at 126.50 and resistance at 127.70-80, current level prefer sell on rallies with tight stop strategy.

EURGBP Pair
EURGBP in rather steady move with sideway consolidation keeps continuing. Today German IFO data will have small intraday impact. Support at 0.8750 and resistance at 0.8820, still prefer in range trading with tight stop strategy.

Gold Bars
GOLD grids down gradually on fear of tension increasing from US/China trade issue after weekend news of Trump planning to impost restriction for Chinese companies investment in US technology companies, weekend POBC cuts RRR 0.5% to offset part of tariff pressure for Chinese companies also highlight the situation still not much improving and fear of growth demand reduces that hurts the GOLD in short term. Today US data and stock/bond market move will have some intraday impact. Support at 1262 and resistance at 1273, current level prefer in range trading with tight stop strategy.

Silver Bars
Silver grids down slightly on following the lower GOLD and mix USD performance with market remain to worry for trade tension of US/China and fragile risk sentiment remain to give some support for Silver on lower side. A lack of key risk event today and see some consolidation continue more likely. Support at 16.2 and resistance at 16.80, current level prefer in range trading with tight stop strategy.


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