Currency snapshot (major pairs)

Dollar index trading at 93.8 (-0.41%)

Strength meter (today so far) – Euro +0.54%, Franc +0.29%, Yen -0.04%, GBP +0.41%

Strength meter (since last week) – Euro +0.54%, Franc +0.29%, Yen -0.04%, GBP +0.41%

EUR/USD –

Trading at 1.172

Trend meter –

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

Support          

• Long term – 1.12, Medium term – 1.16, Short term – 1.16

Resistance –

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

Economic release today –

• Sentix investor confidence index declined to 9.3 in June from 19.2 in May.
• PPI inflation up 2 percent y/y in April.

Commentary –

• The euro recovered today as the dollar declines. Active Call - Sell Euro at 1.218 with 1.17 as target; target revised lower to 1.14

GBP/USD –

Trading at 1.337

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 –

• Construction PMI at 52.5 in May.
• BRC retail sales report will be released at 23:00 GMT.

Commentary –

• The pound is up today on a weaker dollar. 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 109.5

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 –

• NIL

Commentary –

• The yen is the worst performer of the week.

USD/CHF –

Trading at 0.985

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 –

• NIL

Commentary –

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

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest