Currency snapshot (major pairs)

Dollar index trading at 92.97 (+0.09%)

Strength meter (today so far) – Euro -0.06%, Franc +0.04%, Yen +0.29%, GBP -0.82%

Strength meter (since last week) – Euro +0.86%, Franc -0.32%, Yen +0.13%, GBP -0.02%

EUR/USD –

Trading at 1.185

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 –

• Markit services PMI came at 55.4
• Retail sales grew 0.5 percent in June, up 3.1 percent from a year ago.

Commentary –

• The euro is the best performer of the week. Active Call: Buy euro targeting 1.19

GBP/USD –

Trading at 1.312

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 –

• BoE kept policy rates unchanged at 25 basis points with 6-2 voting.
• Market services PMI improves to 53.8 in July.

Commentary –

• The pound gave up earlier gains as BoE kept rates unchanged at 25 basis points. The number of hawks declined from 3 to 2.

USD/JPY –           

Trading at 110.4

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 –

• NIL

Commentary –

• The yen is struggling around key resistance 110 area. Up as equities rise.

USD/CHF –

Trading at 0.97

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 –

• NIL

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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