Dollar index trading at 93.39 (-0.16%)
Strength meter (today so far) – Euro +0.17%, Franc +0.11%, Yen +0.03%, GBP +0.16%
Strength meter (since last week) – Euro +0.37%, Franc +0.17%, Yen -0.19%, GBP -0.04%
EUR/USD –
Trading at 1.181
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 –
- NIL
Commentary –
- The euro recovered from earlier loss as dollar weakens from key resistance. Active Call - Sell Euro at 1.218 with 1.17 as target
GBP/USD –
Trading at 1.345
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 –
- Public sector net borrowing at £6.23 billion in April.
- CBI industrial trade survey order index declined to -3 in May.
Commentary –
- The pound continues to grind lower on Brexit tensions. Active call- short term sell targeting 1.375 (target reached); extended to 1.354 (target reached)
USD/JPY –
Trading at 111
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 the worst performer this week due to a strong dollar and the lack of risk aversion. Active call – Buy yen targeting 101
USD/CHF –
Trading at 0.996
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 worse performer than the euro this week.
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