Dollar index trading at 95.29 (+0.18%)
Strength meter (today so far) – Euro -0.29%, Franc +0.03%, Yen -0.11%, GBP +0.33%
Strength meter (since last week) – Euro -0.53%, Franc +0.13%, Yen +0.14%, GBP -0.45%
EUR/USD –
Trading at 1.156
Trend meter –
- Long term – Buy, Medium term – Buy, Short term – Sell
Support
- Long term – 1.12, Medium term – 1.16, Short term – 1.16 (testing)
Resistance –
- Long term – 1.25, Medium term – 1.22, Short term – 1.2
Economic release today –
- NIL
Commentary –
- The euro gave up earlier gains amid political crisis in Germany and a recovering dollar. Active Call - Sell Euro at 1.218 with 1.17 as target; target revised lower to 1.14
GBP/USD –
Trading at 1.322
Trend meter –
- Long term – Sell, Medium term – Sell, Short term – Sell
Support –
- Long term – 1.24, Medium term – 1.27, Short term – 1.3
Resistance –
- Long term – 1.39 Medium term – 1.37, Short term – 1.35
Economic release today –
- Public sector net borrowing at £3.356 billion.
- Bank of England (BoE) kept interest rate unchanged at today’s meeting.
Commentary –
- The pound is the worst performer of the week as a strong dollar and weak data weighs. Active call- short term sell at 1.413 targeting 1.375 (target reached); extended to 1.354 (target reached); extended to 1.3
USD/JPY –
Trading at 110.4
Trend meter -
- Long term – Sell, Medium term – sell, Short term – Range/Buy
Support –
- Long term – 101, Medium term – 104.2, Short term – 106.2
Resistance –
- Long term – 111, Medium term – 111, Short term – 109 (broken)
Economic release today –
- NIL
Commentary –
- The yen is the best performer of the week as risk aversion rises amid trade war fear.
USD/CHF –
Trading at 0.995
Trend meter –
- Long term – Buy, Medium term – Range/sell, Short term – Range/Buy
Support –
- Long term – 0.90, Medium term – 0.92, Short term – 0.95
Resistance –
- Long term – 1.03, Medium term – 1.00, Short term – 1.00
Economic release today –
- May trade balance came at €2.76 billion.
- SNB kept interest rate unchanged at today’s meeting.
Commentary –
- Franc is up this week, contrasting with euro amid risk aversion.