Currency snapshot (major pairs)

Dollar index trading at 92.95 (-0.09%)

Strength meter (today so far) – Euro +0.23%, Franc -0.40%, Yen -0.29%, GBP +0.18%

Strength meter (since last week) – Euro +0.78%, Franc -0.26%, Yen -0.14%, GBP +0.84%

EUR/USD –

Trading at 1.183

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 – 1.18

Economic release today –

• Producer price inflation is up 0.1 percent in June, up 2.5 percent from a year ago.

Commentary –

• The euro rose on the back of a weaker dollar and better economic numbers. Active Call: Buy euro targeting 1.19

GBP/USD –

Trading at 1.323

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 – 1.32, Short term – 1.32

Economic release today –

• Construction PMI declines to 51.9 in July.

Commentary –

• The pound is up on weaker dollar. The best performer of the week so far.

USD/JPY –           

Trading at 110.7

Trend meter –

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

Support –

• Long term – 107, Medium term – 108.4, Short term – 110

Resistance –

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

Economic release today –

• Consumer confidence edged up to 43.8 in July.

Commentary –

• The yen is struggling around key resistance 110 area. Down as equities continue their record breaking runs.

USD/CHF –

Trading at 0.969

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

Resistance –

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

Economic release today –

• Retail sales up 1.5 percent y/y in June.
• PMI improves to 60.9 in July.

Commentary –

• Franc remains a much weaker performer compared to the euro. The worst performer of the week. Active call – sell pair targeting 0.92

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