Currency snapshot (major pairs)

Dollar index trading at 93.63 (+0.02%)

Strength meter (today so far) – Euro -0.10%, Franc +1.12%, Yen +0.36%, GBP +0.09%

Strength meter (since last week) – Euro -0.24%, Franc +1.02%, Yen +0.84%, GBP -0.25%

EUR/USD –

Trading at 1.174

Trend meter –

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

Support          

• Long term – 1.12, Medium term – 1.14, Short term – 1.16

Resistance –

• Long term – 1.22, Medium term – 1.19, Short term – 1.19

Economic release today –

• NIL

Commentary –

• The euro is facing sell-offs over profit bookings as the dollar recovers. Active Call: target reached at 1.19

GBP/USD –

Trading at 1.299

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 –

• RICS house price balance report will be published at 23:00 GMT.

Commentary –

• The pound is consolidating within range.

USD/JPY –           

Trading at 109.7

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 –

• Flash report suggests that Machine tools orders are 26.3 percent from a year ago.

Commentary –

• The yen has broken key resistance around 110 area over North Korean tensions.

USD/CHF –

Trading at 0.963

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 –

• The Swiss franc recovered sharply and became the best performer over risk aversion. Active call – sell pair targeting 0.92

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