Dollar index trading at 99.87 (+0.12%)
Strength meter (today so far) – Euro -0.22%, Franc -0.04%, Yen +0.10%, GBP -0.30%
Strength meter (since last week) – Euro +0.57%, Franc +0.40%, Yen +1.00%, GBP +0.43%
EUR/USD –
Trading at 1.079
Trend meter –
- Long term – Sell, Medium term – Sell, Short term – Sell
Support
- Long term – 1.032, Medium term – 1.05, Short term – 1.06
Resistance –
- Long term – 1.09, Medium term – 1.085, Short term – 1.085
Economic release today –
- Current account balance In January declined to just €2.5 billion.
Commentary –
- The euro is likely to move higher as the dollar remains battered.
GBP/USD –
Trading at 1.244
Trend meter –
- Long term – Sell, Medium term – Sell, Short term – range/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 – 1.25
Economic release today –
- UK sold 30-year bond at 1.787 percent.
Commentary –
- The pound is testing 1.25 resistance area. We expect the pound to reach parity in the longer run.
USD/JPY –
Trading at 111.4
Trend meter –
- Long term – Sell, Medium term – Range/ Buy, Short term – Range/Buy
Support –
- Long term – 107, Medium term – 109, Short term – 112
Resistance –
- Long term – 121, Medium term – 119, Short term – 115
Economic release today –
- All industry activity index rose by 0.1 percent in January.
Commentary –
- The yen is the best performer on weaker dollar and risk aversion. Active call – Yen likely to reach 120 as key support broken.
USD/CHF –
Trading at 0.993
Trend meter –
- Long term – Buy, Medium term – Range/Buy, Short term – Range
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 –
- SNB will release quarterly bulletin at 14:00 GMT.
Commentary –
- Franc is looking to test key resistance around 0.98 area. It is up in line with the euro. Active call -Franc might decline to 1.08 per dollar. Target extended to 1.14