Currency snapshot (major pairs)

Dollar index trading at 89.93 (+0.09%)

Strength meter (today so far) – Euro +0.02%, Franc -0.06%, Yen -0.13%, GBP +0.27%

Strength meter (since last week) – Euro +0.02%, Franc -0.06%, Yen -0.13%, GBP +0.27%

EUR/USD –

Trading at 1.232

Trend meter –

• Long term – Buy, Medium term – Buy, Short term – Sell

Support          

• Long term – 1.18, Medium term – 1.2, Short term – 1.22

Resistance –

• Long term – 1.25, Medium term – 1.25, Short term – 1.25

Economic release today –

• NIL

Commentary –

• The euro gave up earlier gains as dollar rebounds with strength.

GBP/USD –

Trading at 1.404

Trend meter –

• Long term – Sell, Medium term – Buy, Short term – Sell

Support –

• Long term – 1.35, Medium term – 1.385, Short term – 1.385

Resistance –

• Long term – 1.50 Medium term – 1.485, Short term – 1.435

Economic release today –

• NIL

Commentary –

• The pound started the week on a stronger footing. Active call-  short term sell targeting 1.375 (target reached); extended to 1.354

USD/JPY –           

Trading at 106.4

Trend meter -

• Long term – Sell, Medium term – sell, Short term – Range/Sell

Support –

• Long term – 101, Medium term – 104.2, Short term – 104.2

Resistance –

• Long term – 111, Medium term – 109, Short term – 107

Economic release today –

• NIL

Commentary –

• The yen is the worst performer of the day as equities recover, along with strength in the dollar. Active call – Buy yen targeting 101

USD/CHF –

Trading at 0.954

Trend meter –

• Long term – Buy, Medium term – Range/sell, Short term – Range/Sell

Support –

• Long term – 0.90, Medium term – 0.92, Short term – 0.92

Resistance –

• Long term – 1.03, Medium term – 0.98, Short term – 0.95 (testing)

Economic release today –

• NIL

Commentary –

• Franc is down in line with the euro this week.

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