Currency Snapshot (major Pairs)

Dollar index trading at 97 (+0.13%).

Strength meter (today so far) – Euro +0.05%, Franc +0.25%, Yen -0.22%%, GBP -0.29%

Strength meter (since last week) – Euro -0.16%, Franc +0.50%, Yen -1.95%, GBP -1.21%

EUR/USD –

Trading at 1.099

Trend meter –

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

Support –

  • Long term – 1.048-1.036, Medium term – 1.065-1.06, Short term – 1.065

Resistance –

  • Long term – 1.175-1.18, Medium term – 1.155-1.16, Short term – 1.12-1.123, Immediate – 1.103-1.105

Economic release today –

  • M3 money supply grew by 5.3% in April from a year ago.

Commentary –

  • Euro rose to almost 1.10 today, before it was pushed back to consolidate around 1.097.

GBP/USD –

Trading at 1.528

Trend meter –

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

Support –

  • Long term – 1.425-1.417, Medium term – 1.497-1.49, Short term – 1.518-1.512

Resistance –

  • Long term – 1.592-1.616, Medium term – 1.58-1.586, Short term – 1.566-1.57, Immediate – 1.535

Economic release today –

  • NIL

Commentary –

  • Pound is the worst performer today and dropped to as low as 1.521 in intraday before bouncing to 1.527 area.

USD/JPY –                      

Trading at 123.9

Trend meter –

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

Support –

  • Long term – 113.7-112.9, Medium term – 115.7-115, Short term – 119, Immediate – 122.8

Resistance –

  • Long term – 130, Medium term – 125, Short term – 125

Economic release today –

  • Crucial CPI details along with unemployment stats are scheduled at 23:30 GMT, followed by industrial production at 23:50 GMT.

Commentary –

  • Yen is again the worst performer today lost about 2% against dollar this week. Further loss is likely however 125 area is expected to provide support to yen.

USD/CHF –

Trading at 0.938

Trend meter –

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

Support –

  • Long term – 0.88, Medium term – 0.917-0.913, Short term – 0.90, Immediate – 0.925

Resistance –

  • Long term – 1.174, Medium term – 1.025-1.02, Short term – 0.984-0.987

Economic release today –

  • Swiss GDP for first quarter was worse than expected. Shrank -0.2% q/q. KOF leading indicator improved to 93.1 compared to 89.8 prior.

Commentary –

  • Franc stands as the best performer this week so far and only currency to be positive over Green buck this week so far.

                             

 

The material has been provided by InstaForex Company – www.instaforex.com

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