Currency snapshot (major pairs)

Dollar index trading at 93.36 (-0.44%)

Strength meter (today so far) – Euro +0.39%, Franc -0.21%, Yen +0.04%, GBP +0.13%

Strength meter (since last week) – Euro +0.65%, Franc -2.12%, Yen +0.10%, GBP +0.78%

EUR/USD –

Trading at 1.173

Trend meter –

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

Support          

• Long term – 1.11, Medium term – 1.125, Short term – 1.14

Resistance –

• Long term – 1.20, Medium term – 1.18, Short term – 1.16 (broken)

Economic release today –

• Services sentiment improves to 14.1 in July.
• Consumer confidence improves to -1.7
• Business climate marginally declined to 1.05
• Economic sentiment improved to 111.2
• Industrial confidence improved to 4.5

Commentary –

• The euro is consolidating around 1.17 area as the focus turns on US jobs report. Active Call: Buy euro targeting 1.19

GBP/USD –

Trading at 1.309

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 –

• NIL

Commentary –

• The pound is the best performer of the week but retraced some of the gains.

USD/JPY –           

Trading at 111

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 –

• NIL

Commentary –

• The yen is recovered from earlier loss as tech stocks slide.

USD/CHF –

Trading at 0.965

Trend meter –

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

Support –

• Long term – 0.90, Medium term – 0.92, Short term – 0.95 (broken)

Resistance –

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

Economic release today –

• KOF leading indicator improved to 106.8

Commentary –

• Franc is the worst performer of the week so far. Active call – sell pair targeting 0.92

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