Currency snapshot (major pairs)

Dollar index trading at 89.63 (-0.21%)

Strength meter (today so far) – Euro +0.06%, Franc -0.19%, Yen +0.18%, GBP +0.27%

Strength meter (since last week) – Euro +0.39%, Franc +0.32%, Yen +0.82%, GBP +1.58%

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 –

• NIL

Commentary –

• The euro recovered from earlier loss and now up for the week so far as dollar declines over trade tensions.

GBP/USD –

Trading at 1.415

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 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 105.2

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 riding on risk aversion over trade tensions. Active call – Buy yen targeting 101

USD/CHF –

Trading at 0.948

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 this week.

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