Dollar index trading at 89.95 (-0.19%)
Strength meter (today so far) – Euro +0.14%, Franc -0.13%, Yen +0.58%, GBP +0.20%
Strength meter (since last week) – Euro +0.20%, Franc +0.06%, Yen +1.02%, GBP +0.92%
EUR/USD –
Trading at 1.233
Trend meter –
- Long term – Buy, Medium term – Buy, Short term – Sell
Support
- Long term – 1.18, Medium term – 1.2, Short term – 1.22
Resistance –
- Long term – 1.25, Medium term – 1.25, Short term – 1.25
Economic release today –
- Labor cost up 1.5 percent in the fourth quarter.
Commentary –
- The euro remains positive this week, after selloffs last week. Up on a weaker dollar and as German election uncertainty ends.
GBP/USD –
Trading at 1.397
Trend meter –
- Long term – Sell, Medium term – Buy, Short term – Sell
Support –
- Long term – 1.35, Medium term – 1.385, Short term – 1.385
Resistance –
- Long term – 1.50 Medium term – 1.485, Short term – 1.435
Economic release today –
- NIL
Commentary –
- The pound gave up some of the gains over geopolitical tensions with Russia. Active call- short term sell targeting 1.375 (target reached); extended to 1.354
USD/JPY –
Trading at 105.7
Trend meter -
- Long term – Sell, Medium term – sell, Short term – Range/Sell
Support –
- Long term – 101, Medium term – 104.2, Short term – 106 (testing)
Resistance –
- Long term – 112, Medium term – 110, Short term – 109
Economic release today –
- NIL
Commentary –
- The yen rose sharply and the best performer of the week as Governor Kuroda hinted at policy winding. Active call – Buy yen targeting 101
USD/CHF –
Trading at 0.95
Trend meter –
- Long term – Buy, Medium term – Range/sell, Short term – Range/Sell
Support –
- Long term – 0.90, Medium term – 0.92, Short term – 0.92
Resistance –
- Long term – 1.03, Medium term – 0.98, Short term – 0.95 (testing)
Economic release today –
- NIL
Commentary –
- Franc is up in line with the euro.
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