Currency snapshot (major pairs)

Dollar index trading at 94.59 (+0.05%).

Strength meter (today so far) - Euro -0.17%, Franc +0.23%, Yen -0.20%, GBP +0.22%

Strength meter (since last week) - Euro +0.26%, Franc +0.87%, Yen +0.60%, GBP +0.91%

EUR/USD -

Trading at 1.137

Trend meter -

• Long term - Buy, Medium term - Range, Short term - Range

Support

• Long term - 1.048-1.036, Medium term - 1.065-1.06, Short term - 1.08-1.085

Resistance -

• Long term - 1.175-1.18, Medium term - 1.15, Short term - 1.15

Economic release today -

• Euro Zone current account for July came at €33.4 billion.

Commentary -

• Euro losing momentum after initial gains against Dollar, as FED held rates steady last night.

GBP/USD -

Trading at 1.557

Trend meter -

• Long term - Buy, Medium term - Range, Short term - Range

Support -

• Long term - 1.425-1.417, Medium term - 1.497-1.49, Short term - 1.518-1.512,

Resistance -

• Long term - 1.592-1.616, Medium term - 1.585, Short term - 1.543-1.545 (broken)

Economic release today -

• NIL

Commentary -

• Pound is the best performer this week as FED held rates, unemployment data came better and OE officials reiterated hawkish view. Active call - Sell Pound targeting 1.44 area with stop loss around 1.58 area.

USD/JPY -                      

Trading at 119.9

Trend meter -

• Long term - Buy, Medium term - Range/Buy, Short term - Range

Support -

• Long term - 113.7-112.9, Medium term - 115.7-115, Short term - 118

Resistance -

• Long term - 130, Medium term - 127.5, Short term - 124.5

Economic release today -

• BOJ will release monetary policy minutes at 23:50 GMT.

Commentary -

• Yen failed to gain much ground in spite of weakness in equities. It faced heavy selloff during New York session. Active call - Sell USD/JPY targeting 114.7 area with stop loss around 122

USD/CHF -                                                                                         

Trading at 0.961

Trend meter -

• Long term - Buy, Medium term - Range, Short term - Range/Buy

Support -

• Long term - 0.88, Medium term - 0.90, Short term - 0.93

Resistance -

• Long term - 1.174, Medium term - 1.025-1.02, Short term - 0.984-0.987

Economic release today -

• SNB kept policy steady.

Commentary -

• Franc is better performer over US rate hold.