Currency snapshot (major pairs)

Dollar index trading at 93.17 (+0.44%)

Strength meter (today so far) – Euro -0.70%, Franc -0.05%, Yen -0.22%, GBP -0.51%

Strength meter (since last week) – Euro -0.92%, Franc -0.30%, Yen -0.09%, GBP -0.21%

EUR/USD –

Trading at 1.185

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 –

• Sentix investor confidence declined to 19.2 in May.

Commentary –

• The euro is leading the decline this week. Active Call - Sell Euro at 1.218 with 1.17 as target

GBP/USD –

Trading at 1.35

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 –

• Halifax house price rose 2.2 percent in 3 months to 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. Gave up earlier gains and now down for the week. Active call-  short term sell targeting 1.375 (target reached); extended to 1.354 (target reached)

USD/JPY –           

Trading at 109.2

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 some grounds as risk aversion rise. Active call – Buy yen targeting 101

USD/CHF –    

Trading at 1.002

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 –

• The unemployment rate declined to 2.7 percent in April.

Commentary –

• Franc is a much better performer than the euro this week.

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