Dollar index trading at 93.69 (-0.10%)
Strength meter (today so far) – Euro +0.55%, Franc -0.15%, Yen -0.51%, GBP +2.14%
Strength meter (since last week) – Euro +0.55%, Franc -0.15%, Yen -0.51%, GBP +2.14%
EUR/USD –
Trading at 1.135
Trend meter –
- Long term – Buy, Medium term – Range/Buy, Short term – Sell
Support
- Long term – 1.08, Medium term – 1.10, Short term – 1.10
Resistance –
- Long term – 1.2, Medium term – 1.16, Short term – 1.145
Economic release today –
- Construction output declined -0.4 percent in April, from a year back.
Commentary –
- Euro is up on risk affinity and the possibility of UK staying in the Union.
GBP/USD –
Trading at 1.465
Trend meter –
- Long term – Buy, Medium term – Buy, Short term – Range/Sell
Support –
- Long term – 1.4, Medium term – 1.4, Short term – 1.4
Resistance –
- Long term – 1.49, Medium term – 1.47, Short term – 1.47
Economic release today –
- NIL
Commentary –
- Pound rose sharply today as poll showed gains for the ‘remain’ camp.
USD/JPY –
Trading at 104.6
Trend meter –
- Long term – Sell, Medium term – Range/ Sell, Short term – Sell
Support –
- Long term – 98.5, Medium term – 102.8, Short term – 105
Resistance –
- Long term – 121, Medium term – 115, Short term – 111.2
Economic release today –
- NIL
Commentary –
- Yen is the worst performer of the day as risk aversion fades with in camp gaining momentum in the race. Active call – Buy Yen @119.5 with stop loss around 123.8 and target at 114 and 110, 108.9 and 98.5 First three target reached, new target 90 added.
USD/CHF –
Trading at 0.96
Trend meter –
- Long term – Buy, Medium term – Range, Short term – Range/Sell
Support –
- Long term – 0.905, Medium term – 0.927, Short term – 0.95
Resistance –
- Long term – 1.037, Medium term – 1.01, Short term – 1
Economic release today –
- NIL
Commentary –
- Franc is down as risk affinity is the game of the day. We expect Franc to strengthen against Dollar to as high as 0.9 area in the medium term.