Currency snapshot (major pairs)

Dollar index trading at 95.00 (+0.35%)

Strength meter (today so far) – Euro -0.33%, Franc -0.33%, Yen -0.23%, GBP -0.44%

Strength meter (since last week) – Euro -0.34%, Franc -0.74%, Yen -0.43%, GBP -0.64%

EUR/USD –

Trading at 1.161

Trend meter –

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

Support          

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

Resistance –

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

Economic release today –

• M3 money supply up 4 percent y/y.
• Private loans up 2.9 percent y/y in May.

      Commentary –

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

GBP/USD –

Trading at 1.316

Trend meter –

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

Support –

• Long term – 1.24, Medium term – 1.27, Short term – 1.3

Resistance –

• Long term – 1.39 Medium term – 1.37, Short term – 1.35

Economic release today –

• Housing price index up 2 percent y/y in June.

Commentary –

• The pound is down this week on a stronger 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 110.4

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 – 111, Short term – 109 (broken)

Economic release today –

• Retail trade report will be released at 23:50 GMT.

Commentary –

• The yen is down on strong dollar and lack of risk aversion.

USD/CHF –

Trading at 0.995

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 –

• Zew survey showed expectation index declined to 8 from 28.  

Commentary –

• Franc is the worst performer this week and political turmoil in Europe ease a bit.