Currency snapshot (major pairs)

Dollar index trading at 95.5 (-0.36%).

Strength meter (today so far) - Euro +0.56%, Franc +0.11%, Yen +0.91%, GBP -0.83%

Strength meter (since last week) - Euro +1.71%, Franc +1.81%, Yen +4.04%, GBP -0.67%

EUR/USD -

Trading at 1.134

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 is slowly grinding higher on weak Dollar and winding up of carry on risk aversion. Active Call - Buy Euro @1.09 and at dips targeting 1.155 area and stop loss at 1.05

GBP/USD -

Trading at 1.44

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 (broken)

Resistance -

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

Economic release today -

• RICS house price balance came at 49% for January.

Commentary -

• Pound gave up gains due to rise in risk aversion. Active call - Buy Pound @1.43, targeting 1.485 and with stop at 1.406 area.

USD/JPY -                      

Trading at 112.2

Trend meter -

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

Support -

• Long term - 115.5-116.5 (broken), Medium term - 116.5 (broken), Short term - 116.5 (broken)

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 equities kept dropping. Active call - Buy Yen @119.5 with stop loss around 123.8 and target at 114 and 110, 108.9 and 98.5

USD/CHF -                                                                                         

Trading at 0.972

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 -

• Consumer price index dropped -0.45 in January, down -1.3% ago.

Commentary -

• Franc is almost trading flat for the day. Active call - Sell USD/CHF @0.985 and at rallies - targeting 0.895 area and stop loss at 1.03 area.