Dollar index trading at 98.88 (+0.10%)
Strength meter (today so far) – Euro -0.24%, Franc -0.42%, Yen +0.19%, GBP +0.09%
Strength meter (since last week) – Euro +0.60%, Franc +0.46%, Yen -0.77%, GBP -0.07%
EUR/USD –
Trading at 1.096
Trend meter –
- Long term – Sell, Medium term – Buy, Short term – Range/Buy
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 –
- NIL
Commentary –
- The euro broke above the resistance around 1.09 area as the investors take up positions ahead of the French election round two over the weekend.
GBP/USD –
Trading at 1.293
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 testing resistance around 1.3 area. Weakened as the EU hardened its stance towards Britain. We expect the pound to reach parity in the longer run.
USD/JPY –
Trading at 112.3
Trend meter –
- Long term – Sell, Medium term – sell, Short term – Range
Support –
- Long term – 107, Medium term – 107, Short term – 107
Resistance –
- Long term – 119, Medium term – 115, Short term – 112
Economic release today –
- NIL
Commentary –
- The yen’s performance improved since yesterday, but still the worst performer of the week so far.
USD/CHF –
Trading at 0.99
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 –
- Forex reserves increase to 696 billion.
Commentary –
- Franc’s is 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
May 05, 2017 at 04:52PM
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