Currency snapshot (major pairs)

Dollar index trading at 94.96 (+0.34%)

Strength meter (today so far) – Euro -0.22%, Franc -0.39%, Yen -0.02%, GBP -0.26%

Strength meter (since last week) – Euro -1.38%, Franc -1.89%, Yen -0.60%, GBP -0.61%

EUR/USD –

Trading at 1.161

Trend meter –

• Long term – Buy, Medium term – Buy, Short term – Sell

Support          

• Long term – 1.14, Medium term – 1.16, Short term – 1.175 (testing)

Resistance –

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

Economic release today –

• NIL

Commentary –

• The euro is down this week as ECB’s tapering underwhelms. Active call – Sell targeting 1.14

GBP/USD –

Trading at 1.309

Trend meter –

• Long term – Sell, Medium term – Buy, Short term – Buy

Support –

• Long term – 1.28, Medium term – 1.295, Short term – 1.313 (testing)

Resistance –

• Long term – 1.38 Medium term – 1.36, Short term – 1.36

Economic release today –

• NIL

Commentary –

• The pound is down this week on the stronger dollar but outperforms the euro and the franc.

USD/JPY –           

Trading at 114.1

Trend meter –

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

Support –

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

Resistance –

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

Economic release today –

• NIL       

Commentary –

• The yen is down this week on a strong dollar and lack of risk aversion. Active call – Buy yen targeting 101

USD/CHF –

Trading at 1.002

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 (testing)

Economic release today –

• NIL

Commentary –

• Franc is the worst performer of the week and reached our interim target at parity. Active call – Buy pair targeting 1.02

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