Currency snapshot (major pairs)

Dollar index trading at 96.40 (-0.43%)

Strength meter (today so far) – Euro +0.59%, Franc +0.51%, Yen +0.78%, GBP +0.90%

Strength meter (since last week) – Euro +0.59%, Franc +0.51%, Yen +0.78%, GBP +0.90%

EUR/USD –

Trading at 1.143

Trend meter –

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

Support          

• Long term – 1.10, Medium term – 1.12, Short term – 1.123

Resistance –

• Long term – 1.22, Medium term – 1.18, Short term – 1.153

Economic release today –

• NIL

      Commentary –

• The euro is recovering this week, amid weakness in the USD. Active Call - Sell Euro at 1.218 with 1.17 as target; target revised lower to 1.095 area.

GBP/USD –

Trading at 1.272

Trend meter –

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

Support –

• Long term – 1.23, Medium term – 1.25, Short term – 1.268

Resistance –

• Long term – 1.35 Medium term – 1.337, Short term – 1.326

Economic release today –

• NIL

Commentary –

• The pound is the best performer of the week on dollar’s weakness and the weakness of the euro against the pound. Active call-  short term sell at 1.413 targeting 1.375 (target reached); extended to 1.354 (target reached); extended to 1.25 and 1.21

USD/JPY –           

Trading at 110.4

Trend meter -

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

Support –

• Long term – 106.2, Medium term – 109.2, Short term – 111 (broken)

Resistance –

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

Economic release today –

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

Commentary –

• The yen has cleared its trading range and now moving sharply higher as the dollar weakness amid risk aversion.

USD/CHF –

Trading at 0.986

Trend meter –

• Long term – Buy, Medium term – Range/sell, Short term – Range/Buy

Support –

• Long term – 0.92, Medium term – 0.95, Short term – 0.97

Resistance –

• Long term – 1.03, Medium term – 1.00, Short term – 1.00

Economic release today –

• NIL

Commentary –

• Franc is up this week riding on a weaker USD but slightly worse performer than the euro.