Currency snapshot (major pairs)

Dollar index trading at 97.01 (+0.15%).

Strength meter (today so far) - Euro -0.32%, Franc -0.27%, Yen +0.40%, GBP +0.63%

Strength meter (since last week) - Euro -1.53%, Franc -1.91%, Yen -0.54%, GBP -0.89%

EUR/USD -

Trading at 1.108

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 -

• Current account for December came at €25.5 billion.

Commentary -

• Euro is heading for larger correction against Dollar. Active Call - Buy Euro @1.09 and at dips targeting 1.155 area and stop loss at 1.05

GBP/USD -

Trading at 1.437

Trend meter -

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

Support -

• Long term - 1.405, Medium term - 1.415, Short term - 1.42

Resistance -

• Long term - 1.52, Medium term - 1.52, Short term - 1.467

Economic release today -

• NIL

Commentary -

• Pound is best performer today over rising optimism over EU deal.

USD/JPY -                      

Trading at 113.8

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 still well bid, despite strength in equity market. 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 0.995

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 -

• Trade balance for January came at 3.51 billion.

Commentary -

• Franc is down in line with Euro. Active call - Sell USD/CHF @0.985 and at rallies - targeting 0.895 area and stop loss at 1.03 area.