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 - EconoTimes)
Dollar index trading at 96.12 (+0.76%).
Strength meter (today so far) - Euro -0.76%, Franc -0.43%, Yen -0.24%, GBP -0.90%
Strength meter (since last week) - Euro -3.60%, Franc -2.78%, Yen -1.66%, GBP -1.31%
EUR/USD -
Trading at 1.103
Trend meter -
- Long term - Sell, Medium term - Range/Sell, Short term - Range/Sell Resistance
Support -
- Long term - 1.048-1.036, Medium term - 1.106-1.102, Short term - 1.11-1.106(broken)
Resistance -
- Long term - 1.175-1.18, Medium term - 1.155-1.16, Short term - 1.12-1.123
Economic release today -
- NIL
Commentary -
- Euro posed comeback post German GDP and IFO data, trading as high as 1.12 however stronger than expected US core CPI spoiled the rally and Euro broke below key support.
GBP/USD -
Trading at 1.551
Trend meter -
- Long term - Buy, Medium term - Range, Short term - Range
Support -
- Long term - 1.425-1.417, Medium term - 1.497-1.49, Short term - 1.537-1.534
Resistance -
- Long term - 1.592-1.616, Medium term - 1.58-1.586, Short term - 1.582-1.584, Immediate - 1.57
Economic release today -
- NIL
Commentary -
- Pound swept all of its yesterday's gain after dollar solidified post CPI. Further downside seems likely, expect high volatility.
USD/JPY -
Trading at 121.4
Trend meter -
- Long term - Buy, Medium term - Range, Short term - Range
Support -
- Long term - 113.7-112.9, Medium term - 115.7-115, Short term - 118.5-118
Resistance -
- Long term - 125, Medium term - 122, Short term - 122.
Economic release today -
- Bank of Japan held its monetary policy steady.
Commentary -
- Yen is relatively better performer, as Bank of Japan shrugged off any further stimulus.
USD/CHF -
Trading at 0.943
Trend meter -
- Long term - Buy, Medium term - Range, Short term - Range/Buy support
Support -
- Long term - 0.88, Medium term - 0.917-0.913, Short term - 0.90
Resistance -
- Long term - 1.174, Medium term - 1.025-1.02, Short term - 0.984-0.987, Immediate - 0.944-0.947
Economic release today -
- NIL
Commentary -
- The pair has reached immediate resistance area, partial profit booking is suggested. Buying at dips remain strategy.
