Currency snapshot (major pairs)

Dollar index trading at 98.75 (-0.17%).

Strength meter (today so far) - Euro +0.17%, Franc +0.14%, Yen -0.36%, GBP +0.72%

Strength meter (since last week) - Euro +1.27%, Franc +0.27%, Yen -0.08%, GBP +0.54%

EUR/USD -

Trading at 1.094

Trend meter -

• Long term - Sell, Medium term - Range/Buy, Short term - Range/Sell

Support

• Long term - 1.048, Medium term - 1.048, Short term - 1.06

Resistance -

• Long term - 1.145, Medium term - 1.104, Short term - 1.1

Economic release today -

• Euro Zone consumer sentiment worsened across segment.

Commentary -

• Euro is best performer today and this week. Active Call - Buy Euro @1.06 and at dips targeting 1.155 area and stop loss at 1.05

GBP/USD -

Trading at 1.438

Trend meter -

• Long term - Range/Sell, Medium term - Range/sell, Short term - Range/Sell

Support -

• Long term - 1.425, Medium term - 1.445, Short term - 1.445

Resistance -

• Long term - 1.52, Medium term - 1.5, Short term - 1.482

Economic release today -

• UK GDP flash reading came at 0.5% q/q and 1.9% y/y

Commentary -

• Pound is finding support bids around 5 year low, best performer today.

USD/JPY -                      

Trading at 118.8

Trend meter -

• Long term - Sell, Medium term - Range/ Sell, Short term - Sell

Support -

• Long term - 115.5-116.5, Medium term - 116.5, Short term - 116.5

Resistance -

• Long term - 123.8, Medium term - 123.8, Short term - 119.5

Economic release today -

• National CPI, Tokyo CPI, unemployment rate, household spending all to be released at 23:30 GMT.
• Industrial production to be released at 23:50 GMT.

Commentary -

• As risk aversion fades, Yen is worst performer of the week. Active call - Sell Yen @119.5 with stop loss around 123.8 and target at 114 and 110.

USD/CHF -                                                                                         

Trading at 1.013

Trend meter -

• Long term - Buy, Medium term - Range, Short term - Range/Sell

Support -

• Long term - 0.905, Medium term - 0.945, Short term - 1.01

Resistance -

• Long term - 1.174, Medium term - 1.07, Short term - 1.035

Economic release today -

• UBS consumption indicator rose to 1.62 from 1.55

Commentary -

• Franc finally turned positive for the week. Active call - Sell USD/CHF @0.985 and at rallies - targeting 0.895 area and stop loss at 1.03 area.