• Currency snapshot (major pairs)

    Source: FxWire Pro - Commentary / 23 Jan 2018 08:30:43   Eastern Standard Time

    Dollar index trading at 90.42 (+0.04%)

    Strength meter (today so far) – Euro -0.07%, Franc +0.05%, Yen +0.43%, GBP -0.25%

    Strength meter (since last week) – Euro +0.35%, Franc -0.08%, Yen +0.02%, GBP +0.77%

    EUR/USD –

    Trading at 1.225

    Trend meter –

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

    Support          

    • Long term – 1.16, Medium term – 1.18, Short term – 1.2

    Resistance –

    • Long term – 1.25, Medium term – 1.235, Short term – 1.235

    Economic release today –

    • Zew economic sentiment index improved to 31.8 in January.

    Commentary –

    • The euro is up this week on weaker dollar. Active call – Buy targeting 1.25

    GBP/USD –

    Trading at 1.395

    Trend meter –

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

    Support –

    • Long term – 1.305, Medium term – 1.335, Short term – 1.35

    Resistance –

    • Long term – 1.42 Medium term – 1.405, Short term – 1.38 (broken)

    Economic release today –

    • Public sector net borrowing declined to £0.98 billion in December.

    Commentary –

    • The pound is the best performer of the week. Active call-  Buy targeting 1.44

    USD/JPY –           

    Trading at 110.5

    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 –

    • BoJ kept monetary policy unchanged at today’s meeting.  

    Commentary –

    • The yen is timid due to lack of risk aversion and BoJ signals no tapering yet. Active call – Buy yen targeting 101

    USD/CHF –

    Trading at 0.961

    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 – 1.00

    Economic release today –

    • NIL

    Commentary –

    • Franc is the worst performer this week. Active call – Buy pair targeting 1.02

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