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Currency snapshot (major pairs)

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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