• Currency snapshot (major pairs)

    Source: FxWire Pro - Commentary / 18 Jul 2018 12:29:12   America/New_York

    Dollar index trading at 95.16 (+0.18%)

    Strength meter (today so far) – Euro -0.08%, Franc +0.11%, Yen +0.21%, GBP -0.44%

    Strength meter (since last week) – Euro +0.23%, Franc +0.51%, Yen -0.24%, GBP -0.18%

    EUR/USD –

    Trading at 1.165

    Trend meter –

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

    Support          

    • Long term – 1.12, Medium term – 1.145, Short term – 1.145

    Resistance –

    • Long term – 1.22, Medium term – 1.2, Short term – 1.18

    Economic release today –

    • CPI inflation steady at 2 percent, while core inflation at 1.9 percent y/y.

          Commentary –

    • The euro continues to consolidate, lacking direction. Active Call - Sell Euro at 1.218 with 1.17 as target; target revised lower to 1.095

    GBP/USD –

    Trading at 1.305

    Trend meter –

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

    Support –

    • Long term – 1.24, Medium term – 1.27, Short term – 1.3

    Resistance –

    • Long term – 1.37 Medium term – 1.35, Short term – 1.33

    Economic release today –

    • RPI up 3.4 percent y/y in June.
    • HPI up 3 percent y/y in June.
    • PPI inflation up 3.1 percent y/y for output.
    • PPI inflation up 10.2 percent y/y for input.
    • CPI inflation at 2 percent y/y, while core CPI at 1.9 percent y/y.

    Commentary –

    • The pound is down amid Brexit amendment concerns. Active call-  short term sell at 1.413 targeting 1.375 (target reached); extended to 1.354 (target reached); extended to 1.3

    USD/JPY –           

    Trading at 112.8

    Trend meter -

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

    Support –

    • Long term – 104.2, Medium term – 106.2, Short term – 109.2

    Resistance –

    • Long term – 114, Medium term – 111, Short term – 111

    Economic release today –

    • Trade balance report will be released at 23:50 GMT.

    Commentary –

    • The yen is the worst performer of the week as equities rise amid strong dollar.

    USD/CHF –

    Trading at 0.999

    Trend meter –

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

    Support –

    • Long term – 0.90, Medium term – 0.92, Short term – 0.95

    Resistance –

    • Long term – 1.03, Medium term – 1.00, Short term – 1.00

    Economic release today –

    • NIL

    Commentary –

    • Franc is the best performer of the week.  

     

     

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