Currency snapshot (major pairs)

Dollar index trading at 96.81 (+0.21%).

Strength meter (today so far) - Euro -0.24%, Franc -0.18%, Yen +0.57%, GBP -1.05%

Strength meter (since last week) - Euro - 1%, Franc -1.27%, Yen -0.53%, GBP -1.37%

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 -

• Zew survey economic sentiment dropped to 13.6 from 22.7 prior.

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 1.43

Trend meter -

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

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 -

• Retail price index rose 1.3% y/y in January, house price index rose 6.7% y/y, CPI rose 0.3% y/y, core CPI rise 1.2% y/y

Commentary -

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

USD/JPY -                      

Trading at 113.7

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 -

• Machinery orders will be released at 23:30 GMT.

Commentary -

• Yen is best performer today as risk aversion returned. 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 -

• NIL.

Commentary -

• Franc is in better bid today over risk aversion. Active call - Sell USD/CHF @0.985 and at rallies - targeting 0.895 area and stop loss at 1.03 area.