Currency snapshot (major pairs)

Dollar index trading at 94.71 (+0.31%)

Strength meter (today so far) – Euro -0.42%, Franc -0.11%, Yen +0.49%, GBP -0.31%

Strength meter (since last week) – Euro -0.60%, Franc -0.65%, Yen +0.49%, GBP -0.16%

EUR/USD –

Trading at 1.158

Trend meter –

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

Support          

• Long term – 1.12, Medium term – 1.16, Short term – 1.16 (broken)

Resistance –

• Long term – 1.25, Medium term – 1.22, Short term – 1.2

Economic release today –

• Private loans up 2.9 percent y/y in April.
• M3 money supply up 3 percent y/y.

Commentary –

• The euro is continuing lower as political tensions mount in Eurozone along with a trade war fears. Active Call - Sell Euro at 1.218 with 1.17 as target; target revised lower to 1.14

GBP/USD –

Trading at 1.327

Trend meter –

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

Support –

• Long term – 1.32, Medium term – 1.35, Short term – 1.35 (broken)

Resistance –

• Long term – 1.425 Medium term – 1.39, Short term – 1.37

Economic release today –

• NIL

Commentary –

• The pound is heading lower facing turmoil in Europe and a weak domestic economy. Active call-  short term sell at 1.413 targeting 1.375 (target reached); extended to 1.354 (target reached); extended to 1.3

USD/JPY –           

Trading at 108.8

Trend meter -

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

Support –

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

Resistance –

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

Economic release today –

• Retail trade report will be released at 23:30 GMT.

Commentary –

• The yen is heading higher on risk aversion.

USD/CHF –

Trading at 0.994

Trend meter –

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

Support –

• Long term – 0.90, Medium term – 0.92, Short term – 0.95

Resistance –

• Long term – 1.03, Medium term – 1.00, Short term – 1.00

Economic release today –

• April trade balance at $2.29 bilion.

Commentary –

• Franc is the worst performer of the week so far.

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