Currency snapshot (major pairs)

Dollar index trading at 100.75 (-0.21%)

Strength meter (today so far) – Euro +0.08%, Franc -0.13%, Yen -0.57%, GBP +0.34%

Strength meter (since last week) – Euro +0.08%, Franc -0.13%, Yen -0.57%, GBP +0.34%

EUR/USD –

Trading at 1.064

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 – 1.084, Short term – 1.084

Economic release today –

• NIL

Commentary –

• The euro remains downbeat as Trump’s tax speculation is keeping the dollar uplifted.

GBP/USD –

Trading at 1.252

Trend meter –

• Long term – Sell, Medium term – Sell, Short term – range/buy

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 best performer of the day. We expect the pound to reach parity in the longer run.

USD/JPY –                      

Trading at 113.7

Trend meter –

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

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 retreated as Trump-Abe meeting doesn’t mention currency . Active call- Sell USD/JPY targeting 110.

USD/CHF –        

Trading at 1.003

Trend meter –

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

Support –

• Long term – 0.95, Medium term – 0.95, Short term – 0.98

Resistance –

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

Economic release today –

• NIL

Commentary –

• Franc is back testing parity. Franc is likely to weaken further against the dollar in the longer run.  Active call -Franc might decline to 1.08 per dollar. Target extended to 1.14