Currency snapshot (major pairs)

Dollar index trading at 96.28 (-0.16%)

Strength meter (today so far) – Euro +0.25%, Franc -0.17%, Yen -0.28%, GBP +0.10%

Strength meter (since last week) – Euro -0.76%, Franc -0.35%, Yen +0.17%, GBP -1.20%

EUR/USD –

Trading at 1.142

Trend meter –

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

Support          

• Long term – 1.10, Medium term – 1.12, Short term – 1.15 (broken)

Resistance –

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

Economic release today –

• ECB kept monetary policy unchanged at today’s meeting.

      Commentary –

• The euro started the week on a downbeat note and moving lower as the yield divergence weigh. Active Call - Sell Euro at 1.218 with 1.17 as target; target revised lower to 1.095; in short term, the euro might correct towards 1.22 area

GBP/USD –

Trading at 1.289

Trend meter –

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

Support –

• Long term – 1.19, Medium term – 1.23, Short term – 1.285

Resistance –

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

Economic release today –

• NIL

Commentary –

• The pound is the worst performer of the week. Likely to remain volatile amid Brexit noise. 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 112.3

Trend meter -

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

Support –

• Long term – 106.2, Medium term – 109.2, Short term – 111

Resistance –

• Long term – 117, Medium term – 114, Short term – 114

Economic release today –

• Tokyo inflation report will be released at 11:30 GMT.

Commentary –

• The yen remains trapped in bull/bear fight amid risk aversion and strong dollar. Gave up gains on strong USD as risk aversion faded.

USD/CHF –

Trading at 0.998

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 – 0.98 (broken)

Economic release today –

• NIL

Commentary –

• Franc is a much better performer than the euro this week amid risk aversion bids.