Currency snapshot (major pairs)

Dollar index trading at 96.88 (+0.23%)

Strength meter (today so far) – Euro -0.28%, Franc -0.31%, Yen +0.24%, GBP -0.16%

Strength meter (since last week) – Euro -0.81%, Franc -0.31%, Yen -0.25%, GBP -0.28%

EUR/USD –

Trading at 1.132

Trend meter –

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

Support          

• Long term – 1.10, Medium term – 1.12, Short term – 1.12

Resistance –

• Long term – 1.22, Medium term – 1.18, Short term – 1.15

Economic release today –

• NIL

      Commentary –

• The euro is the worst performer of the week on Tukey tensions and as the dollar marches higher. Active Call - Sell Euro at 1.218 with 1.17 as target; target revised lower to 1.095

GBP/USD –

Trading at 1.27

Trend meter –

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

Support –

• Long term – 1.10, Medium term – 1.17, Short term – 1.25

Resistance –

• Long term – 1.35 Medium term – 1.32, Short term – 1.305

Economic release today –

• RPI up 3.2 percent y/y in July.
• PPI output up 3.1 percent y/y.
• PPI input up 10.9 percent y/y.
• CPI up 2.5 percent y/y.
• Core CPI up 1.9 percent y/y.
• HPI up 3 percent y/y.

Commentary –

• The pound remains under selling pressure amid a stronger dollar. Active call-  short term sell at 1.413 targeting 1.375 (target reached); extended to 1.354 (target reached); extended to 1.25

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 –

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

Commentary –

• The yen remains upbeat on risk aversion but still down against the dollar.

USD/CHF –

Trading at 0.997

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 a much better performer than the euro this week amid safe-haven bids but dow against the dollar.