EURUSD in steady move after yesterday’s rebound. Trump’s state of the union address not mentioning any infrastructure and trades will drive some selling on USD afterwards. Overall pair moves expected to be in orderly today. And FOMC meeting and US ADP as well as Eurozone CPI are the intraday focus, also a large size (3.5 Billion) option expiry at 1.25 will see some defensive offers around the pair move. With support at 1.2380 and resistance at 1.25, prefer to keep buying dips with tight stop strategy.
USDJPY still holding above 108 despite a top seller. But as the BOJ reinforcing the current policy stance still unchanged and higher UST yield will still have some support for the pair. Overall USDJPY responds to the broad USD direction earlier and expected to still have more sideway soft bias. With support at 108 and resistance at 109.10-20, still prefer the selling on rallies with tight stop strategy.
GBPUSD to be in rebound state after Carney’s no bearish bias policy. And also without any bad news from Brexit so far, it driven more short coverings with broad USD weakening supporting the GBP recovery. Today FOMC meeting and ADP data are the intraday focus, with support at 1.41 and resistance at 1.4220 the current level prefers to sell on rallies with tight stop strategy.
USDCHF goes lower on broad USD weakness as well as in lowering EURCHF (broke below 1.1600) effect. Today FOMC meeting and US ADP data are the major focuses and expected the pair to have more response on current broad USD move. With support at 0.93 and 0.9270 with resistance at 0.9355 and 0.9400, still prefer selling on rallies with tight stop strategy.
EURJPY grids up on both EUR and USDJPY overnight higher effect. And weak USD tone driven more EUR strength and will indirectly helping the cross despite the stock market doing some correction. Today the US FOMC meeting and ADP data will have some intraday impact, with support at 134.75 and resistance at 135.35 to still prefer keeping in range trading with tight stop strategy.
EURGBP retracing back after having overnight shallow over 0.88 and GBP rebound driven the cross profit taking with most trades concentrating in short term basis. Today the Eurozone CPI, US FOMC and ADP data will direct the intraday action, with support at 0.8755 and resistance at 0.8830-35 to still prefer buying dips with tight stop strategy.
GOLD is in sideway consolidation with USD swinging with soft bias but still support the GOLD on lower side. Also real money demand and stock lower are also indirectly supporting the GOLD despite of UST yield running higher. Today the FOMC meeting and US ADP data will have some intraday impact, with support at 1335 and resistance at 1352 still prefer to buy dips with tight stop strategy.
Silver a bit higher slightly in the same direction of GOLD and the weakening of broad USD after Trump’s state of union address driven more support for the pair. Today the US FOMC meeting and ADP data as well as stock/bond market move will have some intraday impact. With support at 17 and resistance at 17.45-50 still prefer to keep buying dips with tight stop strategy.