Dollar index trading at 95.28 (+0.00%)
Strength meter (today so far) – Euro -0.06%, Franc +0.07%, Yen +0.61%, GBP +0.17%
Strength meter (since last week) – Euro -0.06%, Franc +0.07%, Yen +0.61%, GBP +0.17%
EUR/USD –
Trading at 1.122
Trend meter –
- Long term – Sell, Medium term – Sell, Short term – Buy
Support
- Long term – 1.06, Medium term – 1.08, Short term – 1.09
Resistance –
- Long term – 1.16, Medium term – 1.143, Short term – 1.132
Economic release today –
- NIL
Commentary –
- The euro is marginally down ahead of Brainard speech. Active call – Sell EUR/USD at 1.116 with stop loss at 1.15 and target at 1.01. However, in the short run, Euro might ride higher.
GBP/USD –
Trading at 1.328
Trend meter –
- Long term – Sell, Medium term – Sell, Short term – Buy
Support –
- Long term – 1.2, Medium term – 1.27, Short term – 1.29
Resistance –
- Long term – 1.39, Medium term – 1.35, Short term – 1.34
Economic release today –
- NIL
Commentary –
- The pound is consolidating below key resistance around 1.34 but above former resistance around 1.32. We expect the pound to reach parity.
USD/JPY –
Trading at 101.9
Trend meter –
- Long term – Sell, Medium term – Range/ Sell, Short term – Sell
Support –
- Long term – 91, Medium term – 98, Short term – 98
Resistance –
- Long term – 111, Medium term – 107, Short term – 107
Economic release today –
- Flash reading shows that Machine tools orders declined by 8.4 percent y/y in August.
Commentary –
- The yen is the best performer today, up on risk aversion bids. Active call – Buy Yen @119.5 with stop loss around 123.8 and target at 114 and 110, 108.9 and 98.5. All targets reached, new target 90 added. Yen may retrace to 111 per dollar if BOJ intervenes.
USD/CHF –
Trading at 0.974
Trend meter –
- Long term – Buy, Medium term – Range, Short term – Range/Sell
Support –
- Long term – 0.9, Medium term – 0.927, Short term – 0.95
Resistance –
- Long term – 1.037, Medium term – 1.01, Short term – 0.994
Economic release today –
- NIL
Commentary –
- Franc is positive on the dollar. We expect Franc to strengthen against Dollar to as high as 0.86 area in the medium term.
