Dollar index trading at 93.31 (-0.20%)
Strength meter (today so far) – Euro +0.26%, Franc +0.33%, Yen -0.52%, GBP -0.24%
Strength meter (since last week) – +0.29%, Franc -0.12%, Yen +0.01%, GBP -0.57%
EUR/USD –
Trading at 1.179
Trend meter –
- Long term – Buy, Medium term – Buy, Short term – Breakout/ Buy
Support
- Long term – 1.12, Medium term – 1.14, Short term – 1.16
Resistance –
- Long term – 1.22, Medium term – 1.19, Short term – 1.19
Economic release today –
- Flash manufacturing PMI rose to 57.4 in August.
- Services PMI declined to 54.9
- Consumer confidence report will be released at 14:00 GMT.
Commentary –
- The euro consolidating ahead of Jackson Hole. The best performer of the week so far. Further downside correction likely.
GBP/USD –
Trading at 1.279
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 – 1.32, Short term – 1.32
Economic release today –
- NIL
Commentary –
- The pound is struggling as it failed to clear key down trend line. The worst performer of the week. Active call – Sell pound at 1.291 with target at 1.24
USD/JPY –
Trading at 109.1
Trend meter –
- Long term – Sell, Medium term – sell, Short term – Range/Sell
Support –
- Long term – 107, Medium term – 108.4, Short term – 109
Resistance –
- Long term – 116, Medium term – 114.2, Short term – 114.2
Economic release today –
- Nikkei flash manufacturing PMI improves to 52.8 in August.
Commentary –
- The yen is testing a key resistance around 109. Active call – Buy yen targeting 101
USD/CHF –
Trading at 0.965
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
Resistance –
- Long term – 1.04, Medium term – 1.01, Short term – 0.987
Economic release today –
- NIL
Commentary –
- Franc is a much worse performer than the euro. Active call – sell pair targeting 0.92
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