Currency snapshot (major pairs)

Dollar index trading at 96.81 (+0.72%).

Strength meter (today so far) - Euro -0.88%, Franc -1.15%, Yen -1.16%, GBP -0.31%

Strength meter (since last week) - Euro -0.88%, Franc -1.15%, Yen -1.16%, GBP -0.31%

EUR/USD -

Trading at 1.115

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 in back foot as Dollar gains ground. Active Call - Buy Euro @1.09 and at dips targeting 1.155 area and stop loss at 1.05

GBP/USD -

Trading at 1.443

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 is best performer this week. Active call - Buy Pound @1.43, targeting 1.485 and with stop at 1.406 area.

USD/JPY -                      

Trading at 114.62

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 -

• Tertiary industry index dropped -0.6% on monthly basis and Industrial production dropped -1.7%.

Commentary -

• Yen is worst performer today as risk aversion faded. 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 0.988

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 lost as much as Yen over fading risk aversion. Active call - Sell USD/CHF @0.985 and at rallies - targeting 0.895 area and stop loss at 1.03 area.