Currency snapshot (major pairs)

Dollar index trading at 94.33 (-0.22%)

Strength meter (today so far) – Euro +0.35%, Franc -0.03%, Yen -0.12%, GBP -0.02%

Strength meter (since last week) – Euro +0.19%, Franc -0.32%, Yen +0.05%, GBP +0.23%

EUR/USD –

Trading at 1.17

Trend meter –

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

Support          

• Long term – 1.12, Medium term – 1.145, Short term – 1.145

Resistance –

• Long term – 1.22, Medium term – 1.2, Short term – 1.18

Economic release today –

• NIL

      Commentary –

• The euro continue to struggle as dollar remains strong. Active Call - Sell Euro at 1.218 with 1.17 as target; target revised lower to 1.095

GBP/USD –

Trading at 1.322

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 – 1.37 Medium term – 1.35, Short term – 1.33

Economic release today –

• NIL

Commentary –

• The pound is the worst performer of the 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 110.6

Trend meter -

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

Support –

• Long term – 104.2, Medium term – 106.2, Short term – 109.2

Resistance –

• Long term – 114, Medium term – 111, Short term – 111

Economic release today –

• NIL

Commentary –

• The yen is down on strong dollar despite slide in equities.

USD/CHF –

Trading at 0.993

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 –

• CPI inflation came at 1.1 percent in June.

Commentary –

• Franc is the worst performer of the week.