Currency snapshot (major pairs)

Dollar index trading at 95.12 (+0.38%)

Strength meter (today so far) – Euro -0.64%, Franc -0.06%, Yen +0.23%, GBP -0.63%

Strength meter (since last week) – Euro -0.40%, Franc +0.25%, Yen +0.69%, GBP -0.73%

EUR/USD –

Trading at 1.156

Trend meter –

• Long term – Buy, Medium term – Buy, Short term – Sell

Support          

• Long term – 1.12, Medium term – 1.16, Short term – 1.16 (testing)

Resistance –

• Long term – 1.25, Medium term – 1.22, Short term – 1.2

Economic release today –

• April current account balance came at €28.4 billion.
• April construction output up 1.8 percent from a year ago.

      Commentary –

• The euro gave up earlier gains amid a political crisis in Germany and a recovering dollar. Active Call - Sell Euro at 1.218 with 1.17 as target; target revised lower to 1.14

GBP/USD –

Trading at 1.317

Trend meter –

• Long term – Sell, Medium term – Sell, Short term – Sell

Support –

• Long term – 1.24, Medium term – 1.27, Short term – 1.3

Resistance –

• Long term – 1.39 Medium term – 1.37, Short term – 1.35

Economic release today –

• NIL

Commentary –

• The pound is the worst performer of the week as a strong dollar and weak data weigh. 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 109.9

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 – 111, Short term – 109 (broken)

Economic release today –

• NIL

Commentary –

• The yen is the best performer of the week as risk aversion rises amid trade war fear.

USD/CHF –

Trading at 0.995

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 up this week, contrasting with euro amid risk aversion.

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