Dollar index trading at 94.02 (-0.20%)
Strength meter (today so far) – Euro +0.32%, Franc -0.27%, Yen +0.03%, GBP +0.58%
Strength meter (since last week) – Euro +0.32%, Franc -0.27%, Yen +0.03%, GBP +0.58%
EUR/USD –
Trading at 1.178
Trend meter –
- Long term – Sell, Medium term – Sell, Short term – Buy
Support
- Long term – 1.10, Medium term – 1.12, Short term – 1.15
Resistance –
- Long term – 1.22, Medium term – 1.18, Short term – 1.18
Economic release today –
- NIL
Commentary –
- The euro is continuing its recovery this week as the dollar weakens against majors on rate hike speculation. Active Call - Sell Euro at 1.218 with 1.17 as target; target revised lower to 1.095; Euro might correct towards 1.22 area
GBP/USD –
Trading at 1.313
Trend meter –
- Long term – Sell, Medium term – Sell, Short term – Sell
Support –
- Long term – 1.19, Medium term – 1.23, Short term – 1.285
Resistance –
- Long term – 1.35 Medium term – 1.32, Short term – 1.32
Economic release today –
- CBI industrial trend order index declined to -1
Commentary –
- The pound is again the best performer of the week, however, political uncertainty clouds Brexit outlook. Active call- short term sell at 1.413 targeting 1.375 (target reached); extended to 1.354 (target reached); extended to 1.25
USD/JPY –
Trading at 112.6
Trend meter -
- Long term – Sell, Medium term – buy, Short term – Range/Buy
Support –
- Long term – 104.2, Medium term – 106.2, Short term – 109.2
Resistance –
- Long term – 116, Medium term – 114, Short term – 112
Economic release today –
- Corporate service price report will be released at 23:50 GMT.
Commentary –
- The yen remains trapped in bull/bear fight amid risk aversion and a strong dollar. Marginally higher on a weaker dollar.
USD/CHF –
Trading at 0.955
Trend meter –
- Long term – Buy, Medium term – Range/sell, Short term – Range
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 worst performer this week.