Currency snapshot (major pairs)

Dollar index trading at 94.16 (+0.13%)

Strength meter (today so far) – Euro -0.24%, Franc +0.15%, Yen +0.23%, GBP +0.38%

Strength meter (since last week) – Euro +0.10%, Franc +0.09%, Yen -0.19%, GBP +0.29%

EUR/USD –

Trading at 1.167

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 –

• Markit services PMI declined to 53.8 in May.

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 1.336

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 –

• Markit services PMI rose to 54 in May.

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 109.7

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 –

• Markit services PMI declined to 51 in May.

Commentary –

• The yen is the worst performer of the week.

USD/CHF –

Trading at 0.987

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.

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