• Currency snapshot (major pairs)

    Source: FxWire Pro - Commentary / 15 Aug 2018 08:36:54   America/New_York

    Dollar index trading at 96.88 (+0.23%)

    Strength meter (today so far) – Euro -0.28%, Franc -0.31%, Yen +0.24%, GBP -0.16%

    Strength meter (since last week) – Euro -0.81%, Franc -0.31%, Yen -0.25%, GBP -0.28%

    EUR/USD –

    Trading at 1.132

    Trend meter –

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

    Support          

    • Long term – 1.10, Medium term – 1.12, Short term – 1.12

    Resistance –

    • Long term – 1.22, Medium term – 1.18, Short term – 1.15

    Economic release today –

    • NIL

          Commentary –

    • The euro is the worst performer of the week on Tukey tensions and as the dollar marches higher. Active Call - Sell Euro at 1.218 with 1.17 as target; target revised lower to 1.095

    GBP/USD –

    Trading at 1.27

    Trend meter –

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

    Support –

    • Long term – 1.10, Medium term – 1.17, Short term – 1.25

    Resistance –

    • Long term – 1.35 Medium term – 1.32, Short term – 1.305

    Economic release today –

    • RPI up 3.2 percent y/y in July.
    • PPI output up 3.1 percent y/y.
    • PPI input up 10.9 percent y/y.
    • CPI up 2.5 percent y/y.
    • Core CPI up 1.9 percent y/y.
    • HPI up 3 percent y/y.

    Commentary –

    • The pound remains under selling pressure amid a stronger dollar. Active call-  short term sell at 1.413 targeting 1.375 (target reached); extended to 1.354 (target reached); extended to 1.25

    USD/JPY –           

    Trading at 111

    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 –

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

    Commentary –

    • The yen remains upbeat on risk aversion but still down against the dollar.

    USD/CHF –

    Trading at 0.997

    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 a much better performer than the euro this week amid safe-haven bids but dow against the dollar.

     

     

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