Currency snapshot (major pairs)

Dollar index trading at 97.19 (+0.14%).

Strength meter (today so far) - Euro -0.23%, Franc -0.56%, Yen +0.10%, GBP -0.57%

Strength meter (since last week) - Euro -0.23%, Franc -0.56%, Yen +0.10%, GBP -0.57%

EUR/USD -

Trading at 1.112

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 -

• Euro Zone Sentix investor confidence dropped to 6 in February from 9.6 in January.

Commentary -

• Euro might correct to 1.1 area before further rise. Active Call - Buy Euro @1.09 and at dips targeting 1.155 area and stop loss at 1.05

GBP/USD -

Trading at 1.442

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 dropped sharply today on stronger Dollar and risk aversion. Drop might extend to 1.435 area. Active call - Buy Pound @1.43, targeting 1.485 and with stop at 1.406 area.

USD/JPY -                      

Trading at 116.6

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 -

• Labour cash earnings rose by 0.1% in December from a year ago.
• Eco watchers survey current dropped to 46.6, while outlook improved to 49.5

Commentary -

• Yen is best performer today on risk aversion. Active call - Buy Yen @119.5 with stop loss around 123.8 and target at 114 and 110.

USD/CHF -                                                                                         

Trading at 0.995

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 is much worse performer than Euro today. Active call - Sell USD/CHF @0.985 and at rallies - targeting 0.895 area and stop loss at 1.03 area.