Currency snapshot (major pairs)

Dollar index trading at 92.61 (-0.10%)

Strength meter (today so far) – Euro +0.09%, Franc +0.01%, Yen +0.64%, GBP -0.05%

Strength meter (since last week) – Euro -1.06%, Franc -0.88%, Yen -0.76%, GBP -0.86%

EUR/USD –

Trading at 1.196

Trend meter –

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

Support          

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

Resistance –

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

Economic release today –

• Eurozone CPI up 1.2 percent y/y in April.
• PPI inflation up 2.1 percent y/y in March.

Commentary –

• The euro declined further as the dollar recovery continues. Active Call - Sell Euro at 1.218 with 1.17 as target

GBP/USD –

Trading at 1.356

Trend meter –

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

Support –

• Long term – 1.35, Medium term – 1.365, Short term – 1.365 (testing)

Resistance –

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

Economic release today –

• Services PMI rose to 52.8 in April.

Commentary –

• The pound is declining steadily as BoE governor Carney signaled slower pace of hikes and as GDP number disappointed and as strong dollar weighs. The worst performer of the week. Active call-  short-term sell targeting 1.375 (target reached); extended to 1.354

USD/JPY –           

Trading at 109.1

Trend meter -

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

Support –

• Long term – 101, Medium term – 104.2, Short term – 106.2

Resistance –

• Long term – 111, Medium term – 109, Short term – 109 (testing)

Economic release today –

• NIL

Commentary –

• The yen recovered ground as stocks slide. Active call – Buy yen targeting 101

USD/CHF –

Trading at 0.999

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 – 1.00, Short term – 1.00

Economic release today –

• NIL

Commentary –

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

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