Currency snapshot (major pairs)

Dollar index trading at 94.81 (+0.15%)

Strength meter (today so far) – Euro -0.16%, Franc +0.18%, Yen +0.01%, GBP -0.03%

Strength meter (since last week) – Euro +0.70%, Franc +0.90%, Yen +0.45%, GBP -0.51%

EUR/USD –

Trading at 1.153

Trend meter –

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

Support          

• Long term – 1.08, Medium term – 1.11, Short term – 1.125

Resistance –

• Long term – 1.16, Medium term – 1.16, Short term – 1.16 (testing)

Economic release today –

• Construction output declined by 0.7 percent in May, up 2.6 percent from a year ago.

Commentary –

• The euro is heading for a test of key resistance around 1.16. Active Call: Buy euro targeting 1.19

GBP/USD –

Trading at 1.303

Trend meter –

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

Support –

• Long term – 1.26, Medium term – 1.275, Short term – 1.293

Resistance –

• Long term – 1.345, Medium term – 1.305, Short term – 1.305 (testing)

Economic release today –

• NIL.

Commentary –

• The pound is the worst performer of the week so far.

USD/JPY –           

Trading at 111.9

Trend meter –

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

Support –

• Long term – 107, Medium term – 108.4, Short term – 111

Resistance –

• Long term – 116, Medium term – 114.2, Short term – 114.2

Economic release today –

• June trade balance report will be released at 23:50 GMT.

Commentary –

• The yen is benefiting from dollar’s weakness.

USD/CHF –

Trading at 0.954

Trend meter –

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

Support –

• Long term – 0.90, Medium term – 0.92, Short term – 0.95

Resistance –

• Long term – 1.04, Medium term – 1.01, Short term – 0.987

Economic release today –

• NIL

Commentary –

• Franc is the best performer of the week.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest