• Currency snapshot (major pairs)

    Source: FxWire Pro - Commentary / 20 Aug 2018 11:02:15   America/New_York

    Dollar index trading at 96.08 (-0.06%)

    Strength meter (today so far) – Euro +0.05%, Franc +0.20%, Yen +0.03%, GBP +0.28%

    Strength meter (since last week) – Euro +0.05%, Franc +0.20%, Yen +0.03%, GBP +0.28%

    EUR/USD –

    Trading at 1.144

    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 –

    • Construction output up 2.6 percent y/y in June.  

          Commentary –

    • The euro is trying to grind higher after a big selloff last week. Active Call - Sell Euro at 1.218 with 1.17 as target; target revised lower to 1.095

    GBP/USD –

    Trading at 1.277

    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 –

    • NIL

    Commentary –

    • The pound is the best performer of the day. 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 110.4

    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 remains trapped in bull/bear fight amid risk aversion and a strong dollar.

    USD/CHF –

    Trading at 0.993

    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 slightly better performer than the euro today.

     

     

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