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Currency snapshot (major pairs)

Dollar index trading at 98.83 (-0.83%)

Strength meter (today so far) – Euro +1.46%, Franc +0.13%, Yen -1.11%, GBP +0.22%

Strength meter (since last week) – Euro +1.46%, Franc +0.13%, Yen -1.11%, GBP +0.22%

EUR/USD –

Trading at 1.087

Trend meter –

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

Support          

  • Long term – 1.032, Medium term – 1.05, Short term – 1.06

Resistance –

  • Long term – 1.11, Medium term – 1.09, Short term – 1.09

Economic release today –

  • NIL

Commentary –

  • The euro is the best performer of the day as pro-EU candidate Emmanuel Macron comes first in the first round of French election.

GBP/USD –

Trading at 1.283

Trend meter –

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

Support –

  • Long term – 1.16, Medium term – 1.23, Short term – 1.27

Resistance –

  • Long term – 1.32, Medium term – 1.305, Short term – 1.305

Economic release today –

  • CBI industrial trend survey report will be published at 10:00 GMT.

Commentary –

  • The pound is up on weaker dollar. We expect the pound to reach parity in the longer run.

USD/JPY –           

Trading at 110.1

Trend meter –

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

Support –

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

Resistance –

  • Long term – 119, Medium term – 115, Short term – 112

Economic release today –

  • Leading economic index improves to 104.8 and coincident index improves to 115.3

Commentary –

  • The yen is the worst performer of the day as the French election triggers risk rally.

USD/CHF –        

Trading at 0.994

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 –

  • NIL

Commentary –

  • Franc is again moving in line with the euro.  Active call -Franc might decline to 1.08 per dollar. Target extended to 1.14

 

  • Market Data
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