Currency snapshot (major pairs)

Dollar index trading at 99.19 (-0.08%).

Strength meter (today so far) - Euro -0.10%, Franc -0.59%, Yen -0.23%, GBP +0.59%

Strength meter (since last week) - Euro +0.47%, Franc -0.33%, Yen +0.22%, GBP +0.48%

EUR/USD -

Trading at 1.084

Trend meter -

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

Support

• Long term - 1.048, Medium term - 1.048, Short term - 1.06

Resistance -

• Long term - 1.145, Medium term - 1.104, Short term - 1.1

Economic release today -

• NIL

Commentary -

• Euro showing strength despite ECB hint last week. Active Call - Buy Euro @1.06 and at dips targeting 1.155 area and stop loss at 1.05

GBP/USD -

Trading at 1.432

Trend meter -

• Long term - Range/Sell, Medium term - Range/sell, Short term - Range/Sell

Support -

• Long term - 1.425, Medium term - 1.445, Short term - 1.445

Resistance -

• Long term - 1.52, Medium term - 1.5, Short term - 1.482

Economic release today -

• NIL

Commentary -

• Pound is recovering as global risk appetite improve and oil price rise. Downside target reached for Pound

USD/JPY -                      

Trading at 118.5

Trend meter -

• Long term - Sell, Medium term - Range/ Sell, Short term - Sell

Support -

• Long term - 115.5-116.5, Medium term - 116.5, Short term - 116.5

Resistance -

• Long term - 123.8, Medium term - 123.8, Short term - 119.5

Economic release today -

• NIL

Commentary -

• Yen lost ground as equities recovered. Active call - Sell Yen @119.5 with stop loss around 123.8 and target at 114 and 110.

USD/CHF -                                                                                         

Trading at 1.018

Trend meter -

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

Support -

• Long term - 0.905, Medium term - 0.945, Short term - 1.01

Resistance -

• Long term - 1.174, Medium term - 1.07, Short term - 1.035

Economic release today -

• Trade balance for December came at 2.54 billion worst since March, last year.

Commentary -

• Franc is worst performer this week and today. Active call - Sell USD/CHF @0.985 and at rallies - targeting 0.895 area and stop loss at 1.03 area.