 - EconoTimes)
Dollar index trading at 98.95 (+0.17%)
Strength meter (today so far) – Euro -0.16%, Franc +0.20%, Yen -0.18%, GBP -0.23%
Strength meter (since last week) – Euro +0.20%, Franc +0.48%, Yen -0.65%, GBP -0.28%
EUR/USD –
Trading at 1.091
Trend meter –
- Long term – Sell, Medium term – Buy, Short term – Range/Buy
Support
- Long term – 1.032, Medium term – 1.05, Short term – 1.06
Resistance –
- Long term – 1.11, Medium term – 1.09, Short term – 1.09
Economic release today –
- First quarter GDP grew by 1.7 percent.
- Producer price inflation is up 3.9 percent y/y in March.
Commentary –
- The euro is flirting with resistance around 1.09 area. The focus in on upcoming French election on Sunday.
GBP/USD –
Trading at 1.291
Trend meter –
- Long term – Sell, Medium term – Buy, Short term – Buy
Support –
- Long term – 1.16, Medium term – 1.23, Short term – 1.27
Resistance –
- Long term – 1.32, Medium term – 1.305, Short term – 1.305
Economic release today –
- UK construction PMI improves to 53.1 in April.
Commentary –
- The pound is testing resistance around 1.3 area. We expect the pound to reach parity in the longer run.
USD/JPY –
Trading at 112.2
Trend meter –
- Long term – Sell, Medium term – sell, Short term – Range
Support –
- Long term – 107, Medium term – 107, Short term – 107
Resistance –
- Long term – 119, Medium term – 115, Short term – 112
Economic release today –
- NIL
Commentary –
- The yen’s disastrous performance continues as stock benefits from risk on sentiment.
USD/CHF –
Trading at 0.99
Trend meter –
- Long term – Buy, Medium term – Range/Buy, Short term – Range
Support –
- Long term – 0.95, Medium term – 0.95, Short term – 0.98
Resistance –
- Long term – 1.08, Medium term – 1.037, Short term – 1.037
Economic release today –
- NIL
Commentary –
- Franc’s performance improved since yesterday, the best performer of the week so far. Active call -Franc might decline to 1.08 per dollar. Target extended to 1.14
