Currency snapshot (major pairs)

Dollar index trading at 93.72 (+0.35%)

Strength meter (today so far) – Euro -0.24%, Franc -0.95%, Yen -0.19%, GBP +0.27%

Strength meter (since last week) – Euro +0.35%, Franc -1.63%, Yen -0.25%, GBP +1.22%

EUR/USD –

Trading at 1.17

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 –

• Private loans in June is up 2.1 percent from a year ago. Money supply is up 5 percent from a year ago.

Commentary –

• The euro is consolidating around 1.17 area as the FOMC was more dovish than anticipated. Active Call: Buy euro targeting 1.19

GBP/USD –

Trading at 1.315

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 –

• CBI trade survey index improves to 22 percent for July from 12 percent in June.

Commentary –

• The pound is the best performer of the week.

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 –

• National and Tokyo inflation numbers will be released at 23:30 GMT, along with unemployment report, and followed by retail trade report at 23:50 GMT.

Commentary –

• The yen is down this week as the dollar recovers ground and due to an absence of risk aversion catalyst.

USD/CHF –

Trading at 0.96

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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