EURUSD retace slightly despite higher Germany yield in both 2 years and 10 years. There are some position adjustment on broad USD rebound in starting the week but still in slow and orderly move so far. This week’s FOMC meeting and US NFP data are the major focus but the US Personal Income/Spending, Personal consumption expenditure, Dallas Fed Manufacturing Business Index as well as ECB’s Lautenschlager and Coeure speech might have a small intraday impact as well. With support at 1.2385 and resistance at 1.2455 and 1.2500, preferring to buy on dips with tight stop strategy.
USDJPY rebound last Friday goes lower down to 108.23 after Aso plays down Kuroda’s inflation grid up comments. And Asakawa re-informing the continuation of the easing policy stance as well as confirmed excessive and disorderly moves have bad effects that driven some support for USDJPY earlier. The overall trend remains bearish on price under 110 and today US data and stock/bond market might have some intraday impact with support at 108.00 and resistance at 109.10 still to prefer selling rallies with tight stop strategy.
GBPUSD retrace down on broad USD rebound in orderly pace on starting the week. Today EU-27 ministers meeting in Brussels to finalize the Brexit directives and some headlines might direct the intraday GBP action. Besides that, US data and stock/bond market move also have small intraday impact with support at 1.4070 and ressitance at 1.4200 preferring the in range trading with tight stop strategy.
USDCHF down to 0.9324 last Friday and rebounding gradually today through the effect of broad USD technical recovery as well as the lowering of EUR helps the pair correction. SNB refuses to comment on FX intervention but verbal intervention will expect to come more if the pair is below 0.93 handle. Later US data and stock/bond market move will have some intraday impact with support at 0.9300 and resistance at 0.9400-10 to still prefer in selling rallies with tight stop strategy.
EURJPY retrace back slightly as caused by lower EURUSD leg effect with some downside pressure of USDJPY in gradually higher offset so far. Today US data and stock/bond market move will have some intraday impact with support at 134.90-95 and resistance at 136.00-05, still preferring to keep buying dips with tight stop strategy.
EURGBP higher slightly on GBP weakness ahead of EU-27 minister meeting for finalizing the Brexit directives. And some short covering on EURGBP after holding steady above 0.8700 handle last week. Today any headline on Brexit, ECB Lautenschlager and Coeure speech might have some intraday impact with support at 0.8740-50 and resistance at 0.8830. Still preferring to buy on dips with tight stop strategy.
GOLD retrace down gradually with broad USD rebounding effect. Higher US treasury yield and DJI high record will still add some pressure on GOLD. This week focus on FOMC meeting, Non-farm payroll data as well as today’s US Personal Income/Spending, Personal Consumption Expenditure, Dallas Fed Manufacturing Index and stock/bond market move will dominate the intraday action with support at 1340 and resistance at 1352.50 still to prefer buying dips with tight stop strategy.
Silver retraces down in the same direction with GOLD, as broad USD rebound will also add some pressure. Today US data and stock/bond market move might have small intraday impact with support at 17.25 and resistance at 17.70. Current level prefers buying dips with tight stop strategy.