Dollar index trading at 99.60 (+0.10%)
Strength meter (today so far) – Euro +0.00%, Franc -0.01%, Yen -0.35%, GBP +0.04%
Strength meter (since last week) – Euro +1.10%, Franc +0.79%, Yen -0.34%, GBP +2.88%
EUR/USD –
Trading at 1.073
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 – 1.09, Medium term – 1.085, Short term – 1.085
Economic release today –
- Consumer price inflation grew 1.5 percent y/y in March.
- Trade balance came at €19.2 billion in February.
Commentary –
- The euro is up on weaker dollar but still trading within range.
GBP/USD –
Trading at 1.285
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 –
- NIL
Commentary –
- The pound is the best performer of the week so far on surprise election announcement. We expect the pound to reach parity in the longer run.
USD/JPY –
Trading at 108.9
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 –
- March trade balance report will be released at 23:50 GMT.
Commentary –
- The yen is the worst performer of the week as it gives up some of the grounds gained last week.
USD/CHF –
Trading at 0.996
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 –
- NIL
Commentary –
- Franc is once again moving in line with the euro. Active call -Franc might decline to 1.08 per dollar. Target extended to 1.14
The material has been provided by InstaForex Company – www.instaforex.com
April 19, 2017 at 05:33PM
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