Currency snapshot (major pairs)

Dollar index trading at 96.42 (-0.9%).

Strength meter (today so far) - Euro -0.08%, Franc +0.23%, Yen +0.05%, GBP -0.37%

Strength meter (since last week) - Euro +3.34%, Franc +3.11%, Yen +3.69%, GBP +2.02%

EUR/USD -

Trading at 1.119

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 -

• For Euro 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 1.452

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 -

• NIL

Commentary -

• Pound is up for the week, riding on weak Dollar, however BOE comments yesterday have dented the momentum. Active call - Buy Pound @1.43, targeting 1.485 and with stop at 1.406 area.

USD/JPY -                      

Trading at 116.8

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 -

• Coincident index dropped to 111.2 and leading economic index dropped to 102

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 0.991

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 -

• SNB FX reserve rose to 575 billion from 560 billion.

Commentary -

• Franc gained sharply as SNB FX reserve increased further. Active call - Sell USD/CHF @0.985 and at rallies - targeting 0.895 area and stop loss at 1.03 area.