Currency snapshot (major pairs)

Dollar index trading at 96.42 (-0.9%).

Strength meter (today so far) - Euro +1%, Franc +0.80%, Yen +0.90%, GBP +0.14%

Strength meter (since last week) - Euro +3.44%, Franc +2.45%, Yen +3.44%, GBP +2.56%

EUR/USD -

Trading at 1.12

Trend meter -

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

Support

• Long term - 1.048, Medium term - 1.07, Short term - 1.078

Resistance -

• Long term - 1.18, Medium term - 1.15, Short term - 1.13

Economic release today -

• NIL

Commentary -

• Euro broke above 1.1 mark, next target is around 1.125 area. Active Call - Buy Euro @1.09 and at dips targeting 1.155 area and stop loss at 1.05

GBP/USD -

Trading at 1.46

Trend meter -

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

Support -

• Long term - 1.405, Medium term - 1.415, Short term - 1.453

Resistance -

• Long term - 1.52, Medium term - 1.52, Short term - 1.49

Economic release today -

• Bank of England kept interest rate unchanged with 9-0 vote.

Commentary -

• Pound is up today, despite dovish commentary from BOE and McCafferty stopping to vote for hike. Active call - Buy Pound @1.43, targeting 1.485 and with stop at 1.406 area.

USD/JPY -                      

Trading at 117.2

Trend meter -

• Long term - Buy, 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 - 120.5

Economic release today -

• NIL

Commentary -

• Yen is best performer this week as weak Dollar and faltering equity providing support. Active call - Sell Yen @119.5 with stop loss around 123.8 and target at 114 and 110.

USD/CHF -                                                                                         

Trading at 0.998

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 -

• NIL

Commentary -

• Franc gained sharply this week as Dollar dropped across board. Active call - Sell USD/CHF @0.985 and at rallies - targeting 0.895 area and stop loss at 1.03 area.