Currency snapshot (major pairs)

Dollar index trading at 95.23 (+0.05%)

Strength meter (today so far) – Euro -0.09%, Franc -0.09%, Yen +0.36%, GBP -0.28%

Strength meter (since last week) – Euro +0.23%, Franc -0.29%, Yen +0.23%, GBP -0.64%

EUR/USD –

Trading at 1.159

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 is consolidating in a range of 350 pips since May. The consolidation continuing even after ECB. Recovered from earlier loss. Active Call - Sell Euro at 1.218 with 1.17 as target; target revised lower to 1.095

GBP/USD –

Trading at 1.291

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 –

• RICS house price report will be released at 23:00 GMT.

Commentary –

• The pound is the worst performer of the week amid hawkish FOMC, Brexit concerns, and dovish BoE. Active call-  short term sell at 1.413 targeting 1.375 (target reached); extended to 1.354 (target reached); extended to 1.25

USD/JPY –           

Trading at 111

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 –

• Machinery orders report will be released at 23:50 GMT.

Commentary –

• The yen recovered on risk aversion.

USD/CHF –

Trading at 0.996

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 –

• Forex reserve rose 750 billion in June.

Commentary –

• Franc is much worse performer than the euro this week.