Currency snapshot (major pairs)

Dollar index trading at 93.99 (-0.05%)

Strength meter (today so far) – Euro +0.10%, Franc -0.09%, Yen -0.16%, GBP -0.06%

Strength meter (since last week) – Euro -0.09%, Franc -0.34%, Yen -0.26%, GBP +0.22%

EUR/USD –

Trading at 1.165

Trend meter –

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

Support          

• Long term – 1.11, Medium term – 1.125, Short term – 1.14

Resistance –

• Long term – 1.20, Medium term – 1.18, Short term – 1.16 (broken)

Economic release today –

• NIL

Commentary –

• The euro is marginally down this week, after a big rally last week. Active Call: Buy euro targeting 1.19

GBP/USD –

Trading at 1.302

Trend meter –

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

Support –

• Long term – 1.26, Medium term – 1.275, Short term – 1.293

Resistance –

• Long term – 1.345, Medium term – 1.305, Short term – 1.305

Economic release today –

• Industrial trade survey order index came at 10 for July, down from 16 in June.

Commentary –

• The pound continues to struggle around 1.3 area as economic data weighs.

USD/JPY –           

Trading at 111.4

Trend meter –

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

Support –

• Long term – 107, Medium term – 108.4, Short term – 111

Resistance –

• Long term – 116, Medium term – 114.2, Short term – 114.2

Economic release today –

• NIL

Commentary –

• The yen is down this week as the dollar recovers ground ahead of FOMC tomorrow.

USD/CHF –

Trading at 0.948

Trend meter –

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

Support –

• Long term – 0.90, Medium term – 0.92, Short term – 0.95 (broken)

Resistance –

• Long term – 1.04, Medium term – 1.01, Short term – 0.987

Economic release today –

• NIL

Commentary –

• Franc is the worst performer of the week so far. Active call – sell pair targeting 0.92

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