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Currency snapshot (major pairs)

Dollar index trading at 94.64 (-0.55%)

Strength meter (today so far) – Euro +0.50%, Franc +0.47%, Yen +0.48%, GBP +0.57%

Strength meter (since last week) – Euro +0.28%, Franc -0.20%, Yen -0.52%, GBP -0.80%

EUR/USD –

Trading at 1.171

Trend meter –

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

Support          

  • Long term – 1.12, Medium term – 1.145, Short term – 1.145

Resistance –

  • Long term – 1.22, Medium term – 1.2, Short term – 1.18

Economic release today –

  • Current account balance stands at €27.3 billion.

      Commentary –

  • The euro recovered as President Trump tweeted the dollar down. Active Call - Sell Euro at 1.218 with 1.17 as target; target revised lower to 1.095

GBP/USD –

Trading at 1.309

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 – 1.37 Medium term – 1.35, Short term – 1.33

Economic release today –

  • Public sector net borrowing was £27.3 billion.

Commentary –

  • The pound is the worst performer of the week amid a strong dollar and Brexit concerns. 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 111.8

Trend meter -

  • Long term – Sell, Medium term – sell, Short term – Range/Buy

Support –

  • Long term – 104.2, Medium term – 106.2, Short term – 109.2

Resistance –

  • Long term – 114, Medium term – 111, Short term – 111

Economic release today –

  • NIL

Commentary –

  • The yen recovered earlier loss as the dollar declined over Trump’s tweet.

USD/CHF –

Trading at 0.994

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 the best performer of the week so far.

 

 

  • Market Data
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