Dollar index trading at 90.16 (-0.29%)
Strength meter (today so far) – Euro +0.26%, Franc +0.24%, Yen +0.17%, GBP +0.45%
Strength meter (since last week) – Euro -0.05%, Franc -0.25%, Yen -0.29%, GBP +1.00%
EUR/USD –
Trading at 1.228
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 –
- NIL
Commentary –
- The euro is down against the dollar heading to FOMC meeting.
GBP/USD –
Trading at 1.407
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 –
- Unemployment rate for January declined from 4.4 percent to 4.3 percent.
- Average earnings grew by 2.6 percent excluding bonus and by 2.8 percent including it.
Commentary –
- The pound is the best performer of the week on hope of an agreement with EU and as unemployment report was better than anticipated. Active call- short-term sell targeting 1.375 (target reached); extended to 1.354
USD/JPY –
Trading at 106.3
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 is down this week over a stronger dollar and as equities recover. Active call – Buy yen targeting 101
USD/CHF –
Trading at 0.953
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 –
- SNB will release quarterly bulletin at 14:00 GMT.
Commentary –
- Franc is a slightly worse performer than the euro this week.
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