Currency snapshot (major pairs)

Dollar index trading at 94.93 (-0.22%)

Strength meter (today so far) – Euro +0.25%, Franc +0.06%, Yen +0.13%, GBP +0.31%

Strength meter (since last week) – Euro +0.25%, Franc +0.06%, Yen +0.13%, GBP +0.31%

EUR/USD –

Trading at 1.165

Trend meter –

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

Support          

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

Resistance –

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

Economic release today –

• NIL

      Commentary –

• The euro is trying to grind higher as the dollar continues to retrace gains. Active Call - Sell Euro at 1.218 with 1.17 as target; target revised lower to 1.095

GBP/USD –

Trading at 1.287

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 the best performer of the week 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 111

Trend meter -

• Long term – Sell, Medium term – buy, 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 remains trapped in bull/bear fight amid risk aversion and strong dollar. Up this week on a weaker dollar.

USD/CHF –

Trading at 0.982

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 the worst performer this week.