Dollar index trading at 94.08 (+0.33%)
Strength meter (today so far) – Euro -0.48%, Franc -0.10%, Yen +0.15%, GBP -0.30%
Strength meter (since last week) – Euro -0.89%, Franc +0.51%, Yen +1.47%, GBP -0.56%
EUR/USD –
Trading at 1.166
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 is sharply moving down as political tensions mount in Eurozone along with a trade war fears. Active Call - Sell Euro at 1.218 with 1.17 as target; target revised lower to 1.14
GBP/USD –
Trading at 1.334
Trend meter –
- Long term – Sell, Medium term – Sell, Short term – Sell
Support –
- Long term – 1.32, Medium term – 1.354, Short term – 1.354 (broken)
Resistance –
- Long term – 1.425 Medium term – 1.39, Short term – 1.37
Economic release today –
- Q1 GDP grew by 1.2 percent y/y.
Commentary –
- The pound is the worst performer of the week as inflation numbers disappoint along with economic data. Active call- short term sell targeting 1.375 (target reached); extended to 1.354 (target reached)
USD/JPY –
Trading at 109.2
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
Economic release today –
- NIL
Commentary –
- The yen is the best performer this week despite a strong dollar and thanks to risk aversion. Active call – Buy yen targeting 101
USD/CHF –
Trading at 0.992
Trend meter –
- Long term – Buy, Medium term – Range/sell, Short term – Range/Buy
Support –
- Long term – 0.90, Medium term – 0.92, Short term – 0.95
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 benefiting from risk aversion.
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