Currency snapshot (major pairs)

Dollar index trading at 94.98 (-0.25%)

Strength meter (today so far) – Euro +0.36%, Franc +0.33%, Yen -0.14%, GBP +0.06%

Strength meter (since last week) – Euro +1.61%, Franc +1.44%, Yen -0.19%, GBP +1.39%

EUR/USD –

Trading at 1.162

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 (broken)

Economic release today –

• NIL

      Commentary –

• The euro is trying to grind higher after a big selloff last week as President Trump verbally attacks the Fed’s rate hikes. It is the best performer of the year. Active Call - Sell Euro at 1.218 with 1.17 as target; target revised lower to 1.095

GBP/USD –

Trading at 1.292

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 –

• NIL

Commentary –

• The pound is up on a weaker dollar so far. 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 110.3

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 –

• All industry activity index down -0.8 percent in June.

Commentary –

• The yen remains trapped in bull/bear fight amid risk aversion and a strong dollar. The worst performer of this week as equities rise.

USD/CHF –

Trading at 0.981

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 slightly worse performer than the euro today.