Currency snapshot (major pairs)

Dollar index trading at 96.5 (+0.21%)

Strength meter (today so far) – Euro -0.05%, Franc -0.29%, Yen +0.17%, GBP +0.53%

Strength meter (since last week) – Euro -0.89%, Franc -1.45%, Yen +1.91%, GBP -2.39%

EUR/USD –

Trading at 1.103

Trend meter –

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

Support

• Long term – 1.08, Medium term – 1.10, Short term – 1.10  

Resistance –

• Long term – 1.16, Medium term – 1.145, Short term – 1.12

Economic release today –

• NIL

Commentary –

• Euro is down today after NFP report surprised on the upside. Active call – Sell EUR/USD at 1.116 with stop loss at 1.15 and target at 1.01

GBP/USD –

Trading at 1.293

Trend meter –

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

Support –

• Long term – 1.2, Medium term – 1.25, Short term – 1.25 

Resistance –

• Long term – 1.5, Medium term – 1.38, Short term – 1.35

Economic release today –

• UK trade balance for May came at -£2.2 billion.

Commentary –

• Pound is the worst this week. We expect the pound to reach parity.

USD/JPY –                      

Trading at 100.8

Trend meter –

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

Support –

• Long term – 91, Medium term – 98, Short term – 100

Resistance –

• Long term – 111, Medium term – 107, Short term – 103.5

Economic release today –

• Labor cash earnings declined for first time in May by -0.2 percent.

Commentary –

• Yen is down on strong dollar but still the best performer this week. Active call – Buy Yen @119.5 with stop loss around 123.8 and target at 114 and 110, 108.9 and 98.5. All targets reached, new target 90 added.

USD/CHF –        

Trading at 0.985

Trend meter –

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

Support –

• Long term – 0.9, Medium term – 0.927, Short term – 0.95

Resistance –

• Long term – 1.037, Medium term – 1.01, Short term – 0.994

Economic release today –

• Unemployment rate for June came at 3.3 percent.

Commentary –

• Franc is down on SNB intervention. We expect Franc to strengthen against Dollar to as high as 0.86 area in the medium term.