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Currency snapshot (major pairs)

Dollar index trading at 89.45 (+0.02%)

Strength meter (today so far) – Euro -0.07%, Franc -0.23%, Yen -0.01%, GBP -0.05%

Strength meter (since last week) – Euro +0.39%, Franc +0.01%, Yen +0.18%, GBP +0.73%

EUR/USD –

Trading at 1.238

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 up this week thanks to a weaker dollar.

GBP/USD –

Trading at 1.433

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 declined to 4.2 percent. Wage growth at 2.8 percent both including and excluding bonus.

Commentary –

  • The pound is again the best performer of the week. Active call-  short term sell targeting 1.375 (target reached); extended to 1.354

USD/JPY –           

Trading at 107.1

Trend meter -

  • Long term – Sell, Medium term – sell, Short term – Range/Sell

Support –

  • Long term – 101, Medium term – 104.2, Short term – 104.2

Resistance –

  • Long term – 111, Medium term – 109, Short term – 107 (testing)

Economic release today –

  • Industrial production up 1.6 percent y/y.

Commentary –

  • The yen is down this week despite a weaker dollar as risk aversion fades after Syria strike was more limited than originally anticipated. Active call – Buy yen targeting 101

USD/CHF –

Trading at 0.961

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 – 0.98

Economic release today –

  • NIL

Commentary –

  • Franc is the worst performer this week.

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