Dollar index trading at 99.17 (+0.34%)
Strength meter (today so far) – Euro -0.33%, Franc -0.10%, Yen -0.50%, GBP -0.05%
Strength meter (since last week) – Euro +1.60%, Franc +0.02%, Yen -2.46%, GBP +0.16%
EUR/USD –
Trading at 1.089
Trend meter –
- Long term – Sell, Medium term – Sell, Short term – Range
Support
- Long term – 1.032, Medium term – 1.05, Short term – 1.06
Resistance –
- Long term – 1.11, Medium term – 1.09, Short term – 1.09
Economic release today –
Commentary –
- The euro is the best performer of the week as pro-EU candidate Emmanuel Macron comes first in the first round of French election. The euro is flirting with the key resistance around 1.09 area.
GBP/USD –
Trading at 1.282
Trend meter –
- Long term – Sell, Medium term – Buy, Short term – Buy
Support –
- Long term – 1.16, Medium term – 1.23, Short term – 1.27
Resistance –
- Long term – 1.32, Medium term – 1.305, Short term – 1.305
Economic release today –
Commentary –
- The pound is only marginally higher this week as the major focus is on the euro and the yen. We expect the pound to reach parity in the longer run.
USD/JPY –
Trading at 110.8
Trend meter –
- Long term – Sell, Medium term – sell, Short term – Sell
Support –
- Long term – 107, Medium term – 107, Short term – 107
Resistance –
- Long term – 119, Medium term – 115, Short term – 112
Economic release today –
- All industry activity index grew 0.7 percent in March.
Commentary –
- The yen is the worst performer this week as the French Election outcome reduces demand for safe haven.
USD/CHF –
Trading at 0.995
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 –
- UBS consumption indicator came at 1.5 in March, same as February.
- Zew survey expectations deteriorated to 22.2 in April from 29.6 in March
Commentary –
- Franc is much worse performer this week compared to the euro. Active call -Franc might decline to 1.08 per dollar. Target extended to 1.14