Currency snapshot (major pairs)

Dollar index trading at 95.61 (-0.53%)

Strength meter (today so far) – Euro +0.53%, Franc +0.58%, Yen +0.68%, GBP +0.15%

Strength meter (since last week) – Euro +0.87%, Franc +0.41%, Yen +0.40%, GBP -0.24%

EUR/USD –

Trading at 1.117

Trend meter –

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

Support

• Long term – 1.06, Medium term – 1.08, Short term – 1.09            

Resistance –

• Long term – 1.16, Medium term – 1.143, Short term – 1.132

Economic release today –

• NIL

Commentary –

• Euro gained on the weakness in the dollar Inner strength lacking. Active call – Sell EUR/USD at 1.116 with stop loss at 1.15 and target at 1.01

GBP/USD –

Trading at 1.303

Trend meter –

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

Support –

• Long term – 1.2, Medium term – 1.27, Short term – 1.29           

Resistance –

• Long term – 1.39, Medium term – 1.35, Short term – 1.34

Economic release today –

• RICS house price balance to be released at 23:00 GMT.

Commentary –

• The pound is likely to remain on the weaker side over the coming months. We expect the pound to reach parity.

USD/JPY –                      

Trading at 101.2

Trend meter –

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

Support –

• Long term – 91, Medium term – 98, Short term – 100

Resistance –

• Long term – 111, Medium term – 107, Short term – 107

Economic release today –

• Tertiary industry index declined by -0.8 percent in June.

Commentary –

• Yen is up on weaker dollar. Active call – Buy Yen @119.5 with stop loss around 123.8 and target at 114 and 110, 108.9 and 98.5. All targets reached, new target 90 added. Yen may retrace to 111 per dollar if BOJ intervenes.

USD/CHF –        

Trading at 0.976

Trend meter –

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

Support –

• Long term – 0.9, Medium term – 0.927, Short term – 0.95

Resistance –

• Long term – 1.037, Medium term – 1.01, Short term – 0.994

Economic release today –

• NIL

Commentary –

• Franc is moving in line with the euro. We expect Franc to strengthen against Dollar to as high as 0.86 area in the medium term.