2017.05.2508:50:00UTC+00Currency Snapshot (major Pairs)

Dollar index trading at 97.17 (+0.07%)

Strength meter (today so far) – Euro -0.23%, Franc -0.01%, Yen -0.28%, GBP -0.19%

Strength meter (since last week) – Euro -0.02%, Franc -0.05%, Yen -0.73%, GBP -0.60%

EUR/USD –

Trading at 1.12

Trend meter –

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

Support          

• Long term – 1.07, Medium term – 1.09, Short term – 1.10

Resistance –

• Long term – 1.16, Medium term – 1.14, Short term – 1.12 (broken)

Economic release today –

• NIL

Commentary –

• The euro is consolidating around key resistance of 1.12

GBP/USD –

Trading at 1.295

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 –

• First quarter GDP rose by 0.2 percent on quarterly basis, up 2 percent from a year ago.

Commentary –

• The pound still remains dogged by the terrorist attack in Manchester and increased securities within the UK. It declined further as GDP numbers were weaker than expected. We expect the pound to reach parity in the longer run.

USD/JPY –           

Trading at 111.9

Trend meter –

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

Support –

• Long term – 109, Medium term – 110, Short term – 112 (broken)

Resistance –

• Long term – 119, Medium term – 115, Short term – 115

Economic release today –

• Tokyo and National CPI reports will be published at 23:30 GMT.

Commentary –

• The yen is the worst performer of the week on risk affinity and the relatively stronger dollar.

USD/CHF –        

Trading at 0.973

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 (broken)

Resistance –

• Long term – 1.08, Medium term – 1.037, Short term – 1.037

Economic release today –

• NIL

Commentary –

• Franc is down in line with the euro.