Currency snapshot (major pairs)

Dollar index trading at 101.1 (-0.36%)

Strength meter (today so far) – Euro +0.45%, Franc +0.45%, Yen +0.29%, GBP +0.14%

Strength meter (since last week) – Euro +1.27%, Franc +1.06%, Yen +2.20%, GBP -0.68%

EUR/USD –

Trading at 1.066

Trend meter –

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

Support                      

• Long term – 1.01, Medium term – 1.032, Short term – 1.032

Resistance –

• Long term – 1.11, Medium term – 1.087, Short term – 1.067

Economic release today –

• NIL

Commentary –

• Strong bull-bear fight going on in EUR/USD. Active call – Sell EUR/USD at 1.116 with stop loss at 1.15 and target at 1.01. stop loss revised to 1.13

GBP/USD –

Trading at 1.218

Trend meter –

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

Support –

• Long term – 1.16, Medium term – 1.2, Short term – 1.2

Resistance –

• Long term – 1.32, Medium term – 1.27, Short term – 1.27

Economic release today –

• NIL

Commentary –

• The pound remains the worst performer of the week and the only major currency to be red against the dollar. We expect the pound to reach parity.

USD/JPY –                      

Trading at 114.4

Trend meter –

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

Support –

• Long term – 98, Medium term – 105, Short term – 112

Resistance –

• Long term – 121, Medium term – 120, Short term – 119

Economic release today –

• NIL      

Commentary –

• The yen is the best performer of the week as risk aversion sets in with regard to Trump’s policy uncertainties and Brexit. Active call- Sell USD/JPY targeting 110.

USD/CHF –        

Trading at 1.006

Trend meter –

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

Support –

• Long term – 0.95, Medium term – 0.95, Short term – 1

Resistance –

• Long term – 1.08, Medium term – 1.037, Short term – 1.037

Economic release today –

• NIL

Commentary –

• Franc is up in line with the euro. Franc might decline to 1.08 per dollar. Target extended to 1.14