Currency snapshot (major pairs)

Dollar index trading at 95.01 (+0.23%)

Strength meter (today so far) – Euro -0.16%, Franc -0.32%, Yen -0.40%, GBP -0.58%

Strength meter (since last week) – Euro +0.44%, Franc +0.42%, Yen +0.15%, GBP -1.21%

EUR/USD –

Trading at 1.15

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 –

• May current account balance came at €30.1 billion.
• ECB will announce interest rate decision at 11:45 GMT, followed by a press conference at 12:30 GMT.

Commentary –

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

GBP/USD –

Trading at 1.294

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

Economic release today –

• Retail sales grew by 0.6 percent in June, up 3 percent from a year ago.

Commentary –

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

USD/JPY –           

Trading at 112.3

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 –

• BoJ kept monetary policy unchanged.

Commentary –

• The yen declined as BoJ didn’t join the hawkish team of central banks.

USD/CHF –

Trading at 0.958

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 –

• Trade balance in June came at 2.81 billion.

Commentary –

• Franc is up in line with the euro this week.

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