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 - EconoTimes)
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.
