Dollar index trading at 93.77 (+0.33%)
Strength meter (today so far) – Euro -0.27%, Franc +0.15%, Yen -0.10%, GBP -0.34%
Strength meter (since last week) – Euro -1.52%, Franc -0.38%, Yen -1.46%, GBP -0.50%
EUR/USD –
Trading at 1.176
Trend meter –
- Long term – Buy, Medium term – Buy, Short term – Sell
Support
- Long term – 1.16, Medium term – 1.18, Short term – 1.18 (broken)
Resistance –
- Long term – 1.27, Medium term – 1.25, Short term – 1.22
Economic release today –
- March trade surplus was €21.2 billion.
Commentary –
- The euro remains downbeat against the USD over tensions in Italian politics. Active Call - Sell Euro at 1.218 with 1.17 as target
GBP/USD –
Trading at 1.346
Trend meter –
- Long term – Sell, Medium term – Sell, Short term – Sell
Support –
- Long term – 1.32, Medium term – 1.354, Short term – 1.354 (testing)
Resistance –
- Long term – 1.45 Medium term – 1.425, Short term – 1.39
Economic release today –
- NIL
Commentary –
- The pound continues to grind lower as the dollar recovers. Active call- short term sell targeting 1.375 (target reached); extended to 1.354 (target reached)
USD/JPY –
Trading at 110.9
Trend meter -
- Long term – Sell, Medium term – sell, Short term – Range/Buy
Support –
- Long term – 101, Medium term – 104.2, Short term – 106.2
Resistance –
- Long term – 111, Medium term – 109, Short term – 109 (testing)
Economic release today –
- NIL
Commentary –
- The yen is sharply down this week due to a strong dollar and the lack of risk aversion. Active call – Buy yen targeting 101
USD/CHF –
Trading at 1.00
Trend meter –
- Long term – Buy, Medium term – Range/sell, Short term – Range/Buy
Support –
- Long term – 0.90, Medium term – 0.92, Short term – 0.92
Resistance –
- Long term – 1.03, Medium term – 1.00, Short term – 1.00
Economic release today –
- NIL
Commentary –
- Franc is a much better performer than the euro this week.
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