Currency snapshot (major pairs)

Dollar index trading at 98.75 (+0.07%)

Strength meter (today so far) – Euro -0.14%, Franc -0.56%, Yen -0.19%, GBP -0.12%

Strength meter (since last week) – Euro -0.14%, Franc -0.56%, Yen -0.19%, GBP -0.12%

EUR/USD –

Trading at 1.097

Trend meter –

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

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 –

• Emmanuel Macron beats Le Pen to The Presidency.
• Sentix investor confidence report will be released at 8:00 GMT.

Commentary –

• The euro is down for the day so far, despite a Macron victory in the election as the outcome was expected and profit bookings taking place.

GBP/USD –

Trading at 1.295

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 –

• Halifax house price report will be released at 7:30 GMT.

Commentary –

• The pound is down so far today as the profit bookings in Euro pushes the dollar higher. It is flirting with resistance around 1.3 area.  We expect the pound to reach parity in the longer run.

USD/JPY –           

Trading at 112.8

Trend meter –

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

Support –

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

Resistance –

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

Economic release today –

• NIL

Commentary –

• The yen remains weak amid a lack of risk aversion.

USD/CHF –        

Trading at 0.99

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’s is the worst performer of the day so far.  Active call -Franc might decline to 1.08 per dollar. Target extended to 1.14