Dollar index trading at 100.01 (-0.13%)
Strength meter (today so far) – Euro +0.32%, Franc -0.01%, Yen -0.18%, GBP +0.25%
Strength meter (since last week) – Euro +0.32%, Franc -0.01%, Yen -0.18%, GBP +0.25%
EUR/USD –
Trading at 1.076
Trend meter –
- Long term – Sell, Medium term – Sell, Short term – Sell
Support
- Long term – 1.032, Medium term – 1.05, Short term – 1.06
Resistance –
- Long term – 1.09, Medium term – 1.075 (broken/testing), Short term – 1.072 (broken)
Economic release today –
- Fourth quarter Labor cost report will be published at 10:00 GMT.
Commentary –
- The euro looks like to be breaking a key resistance, further rise likely.
GBP/USD –
Trading at 1.242
Trend meter –
- Long term – Sell, Medium term – Sell, Short term – range/sell
Support –
- Long term – 1.16, Medium term – 1.2, Short term – 1.2
Resistance –
- Long term – 1.32, Medium term – 1.27, Short term – 1.25
Economic release today –
- Rightmove House price index is up 2.3 percent y/y in January.
- MPC member Haldane is scheduled to speak at 18:20 GMT.
Commentary –
- Pound could come under renewed selling pressure as Forbes effect of last week fades.. We expect the pound to reach parity in the longer run.
USD/JPY –
Trading at 112.7
Trend meter –
- Long term – Sell, Medium term – Range/ Buy, Short term – Range/Buy
Support –
- Long term – 107, Medium term – 109, Short term – 112
Resistance –
- Long term – 121, Medium term – 119, Short term – 115
Economic release today –
Commentary –
- The yen is the worst performer of the day so far. Active call – Yen likely to reach 120 as key support broken.
USD/CHF –
Trading at 0.998
Trend meter –
- Long term – Buy, Medium term – Range/Buy, Short term – Range
Support –
- Long term – 0.95, Medium term – 0.95, Short term – 0.98
Resistance –
- Long term – 1.08, Medium term – 1.037, Short term – 1.037
Economic release today –
Commentary –
- Franc is flat on the dollar. Active call -Franc might decline to 1.08 per dollar. Target extended to 1.14