• Currency snapshot (major pairs)

    Source: FxWire Pro - Commentary / 20 Jul 2018 09:40:45   America/New_York

    Dollar index trading at 94.64 (-0.55%)

    Strength meter (today so far) – Euro +0.50%, Franc +0.47%, Yen +0.48%, GBP +0.57%

    Strength meter (since last week) – Euro +0.28%, Franc -0.20%, Yen -0.52%, GBP -0.80%

    EUR/USD –

    Trading at 1.171

    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 –

    • Current account balance stands at €27.3 billion.

          Commentary –

    • The euro recovered as President Trump tweeted the dollar down. Active Call - Sell Euro at 1.218 with 1.17 as target; target revised lower to 1.095

    GBP/USD –

    Trading at 1.309

    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 –

    • Public sector net borrowing was £27.3 billion.

    Commentary –

    • The pound is the worst performer of the week amid a strong dollar and Brexit 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 111.8

    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 –

    • NIL

    Commentary –

    • The yen recovered earlier loss as the dollar declined over Trump’s tweet.

    USD/CHF –

    Trading at 0.994

    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 so far.

     

     

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