Dollar index trading at 95.18 (-0.25%)
Strength meter (today so far) – Euro +0.23%, Franc +0.22%, Yen -0.06%, GBP +0.82%
Strength meter (since last week) – Euro +0.18%, Franc -0.51%, Yen -0.57%, GBP +0.11%
EUR/USD –
Trading at 1.162
Trend meter –
- Long term – Sell, Medium term – Sell, Short term – Buy
Support
- Long term – 1.10, Medium term – 1.12, Short term – 1.15
Resistance –
- Long term – 1.22, Medium term – 1.18, Short term – 1.18
Economic release today –
- Eurozone Services PMI unchanged at 54.4 in August.
- Retail sales up 1.1 percent y/y in July, down from 1.5 percent in June.
Commentary –
- The euro is the best performer of the week as it recovered earlier loss against the USD. Active Call - Sell Euro at 1.218 with 1.17 as target; target revised lower to 1.095; Euro might correct towards 1.22 area
GBP/USD –
Trading at 1.296
Trend meter –
- Long term – Sell, Medium term – Sell, Short term – Sell
Support –
- Long term – 1.19, Medium term – 1.23, Short term – 1.27
Resistance –
- Long term – 1.35 Medium term – 1.32, Short term – 1.305
Economic release today –
- Services PMI rose to 54.3 in August from 53.5 prior.
Commentary –
- The pound is the best performer of the week on the possibility of a second Brexit referendum. Active call- short term sell at 1.413 targeting 1.375 (target reached); extended to 1.354 (target reached); extended to 1.25
USD/JPY –
Trading at 111.6
Trend meter -
- Long term – Sell, Medium term – buy, Short term – Range/Buy
Support –
- Long term – 104.2, Medium term – 106.2, Short term – 109.2
Resistance –
- Long term – 116, Medium term – 114, Short term – 112
Economic release today –
- Nikkei Services PMI rose to 51.5 in August.
Commentary –
- The yen remains trapped in bull/bear fight amid risk aversion and a strong dollar. The worst performer of this week on a strong dollar.
USD/CHF –
Trading at 0.972
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 –
- NIL
Commentary –
- Franc is much worse performer than the euro this week.