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Currency snapshot (major pairs)

Dollar index trading at 94.62 (+1.27%).

Strength meter (today so far) - Euro -1.63%, Franc -1.06%, Yen -0.90%, GBP -1.43%

Strength meter (since last week) - Euro -0.18%, Franc -0.37%, Yen +2.02%, GBP -1.34%

EUR/USD

Trading at 1.136

Trend meter

  • Long term - Buy, Medium term - Range, Short term - Range/Sell

Support

  • Long term - 1.048-1.036, Medium term - 1.065-1.06, Short term - 1.08-1.085

Resistance

  • Long term - 1.175-1.18, Medium term - 1.172, Short term - 1.163

Economic release today 

  • NIL

Commentary 

  • Euro pared all of this week's gains as its losses some of its safe haven charm. Euro is likely to drop further towards 1.12

GBP/USD

Trading at 1.547

Trend meter 

  • Long term - Buy, Medium term - Range, Short term - Range/Buy

Support 

  • Long term - 1.425-1.417, Medium term - 1.497-1.49, Short term - 1.518-1.512, Immediate - 1.544-1.54

Resistance 

  • Long term - 1.592-1.616, Medium term - 1.595, Short term - 1.58

Economic release today 

  • BBA mortgage application rose 46,000 from 44,800 prior

Commentary 

  • Pound is the worst performer this week. Price might drop further as key trend line is cleared.

USD/JPY            

Trading at 119.6

Trend meter 

  • Long term - Buy, Medium term - Range/Buy, Short term - Range/Sell

Support

  • Long term - 113.7-112.9, Medium term - 115.7-115, Short term - 118

Resistance 

  • Long term - 130, Medium term - 127.5, Short term - 127.5, Immediate - 120.5

Economic release today 

  • NIL

Commentary 

  • Yen is still the best performer this week as risk aversion subsided but not completely over. Focus is on equities.

USD/CHF                                                                   

Trading at 0.949

Trend meter 

  • Long term - Buy, Medium term - Range, Short term - Range/Sell

Support 

  • Long term - 0.88, Medium term - 0.90, Short term - 0.95(broken)

Resistance 

  • Long term - 1.174, Medium term - 1.025-1.02, Short term - 0.984-0.987

Economic release today 

  • UBS consumption indicator rose to 1.64 from 1.61 prior.

Commentary 

  • Franc dropped against Dollar as Risk aversion fades.
  • Market Data
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