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Currency snapshot (major pairs)

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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