Dollar index trading at 94.84 (-0.04%)
Strength meter (today so far) – Euro +0.33%, Franc -0.03%, Yen +0.01%, GBP +0.23%
Strength meter (since last week) – Euro -1.47%, Franc -1.30%, Yen -1.00%, GBP -0.75%
EUR/USD –
Trading at 1.159
Trend meter –
- Long term – Buy, Medium term – Buy, Short term – Sell
Support
- Long term – 1.12, Medium term – 1.16, Short term – 1.16
Resistance –
- Long term – 1.25, Medium term – 1.22, Short term – 1.2
Economic release today –
- CPI inflation up 1.9 percent y/y in May. Core CPI at 1.1 percent.
Commentary –
- The euro is down sharply this week as dovish ECB triggers selloff. Active Call - Sell Euro at 1.218 with 1.17 as target; target revised lower to 1.14; likely to correct towards 1.2 area
GBP/USD –
Trading at 1.328
Trend meter –
- Long term – Sell, Medium term – Sell, Short term – Sell
Support –
- Long term – 1.32, Medium term – 1.35, Short term – 1.35 (broken)
Resistance –
- Long term – 1.425 Medium term – 1.39, Short term – 1.37
Economic release today –
- NIL
Commentary –
- The pound recovered earlier loss on a weaker dollar. Active call- short term sell at 1.413 targeting 1.375 (target reached); extended to 1.354 (target reached); extended to 1.3
USD/JPY –
Trading at 110.6
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 (broken)
Economic release today –
- NIL
Commentary –
- The yen is the worst performer of the week but recovering grounds as equities slide.
USD/CHF –
Trading at 0.998
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 down in line with the euro this week.
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