Dollar index trading at 98.25 (+0.06%).
Strength meter (today so far) - Euro -0.1%, Franc -0.06%, Yen -0.63%, GBP +0.47%
Strength meter (since last week) - Euro -0.50%, Franc -0.36%, Yen +0.74%, GBP +1%
EUR/USD -
Trading at 1.087
Trend meter -
- Long term - Buy, Medium term - Range/Buy, Short term - Sell
Support
- Long term - 1.048, Medium term - 1.07, Short term - 1.078
Resistance -
- Long term - 1.15, Medium term - 1.137, Short term - 1.105
Economic release today -
- Euro Zone manufacturing PMI came at 51.2 in February.
- Unemployment rate dropped to lowest since August 2011 at 10.3%
Commentary -
- Euro in slow but steady decline as probability increasing for further ECB actions.
GBP/USD -
Trading at 1.399
Trend meter -
- Long term - Sell, Medium term - Sell, Short term - Range/Sell
Support -
- Long term - 1.35, Medium term - 1.35, Short term - 1.38
Resistance -
- Long term - 1.463, Medium term - 1.425, Short term - 1.403
Economic release today -
- UK manufacturing PMI came at 50.8 for January.
Commentary -
- Pound is the best performer today and this week, largely due to profit booking and short squeeze.
USD/JPY -
Trading at 113.1
Trend meter -
- Long term - Sell, Medium term - Range/ Sell, Short term - Sell
Support -
- Long term - 98.5, Medium term - 108, Short term - 110
Resistance -
- Long term - 121, Medium term - 117, Short term - 115
Economic release today -
- Nikkei manufacturing PMI came at 50.1 in January.
Commentary -
- After last night's rally, Yen turned out as the worst performer today as equities rise. 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 1.002
Trend meter -
- Long term - Buy, Medium term - Range, Short term - Range/Sell
Support -
- Long term - 0.905, Medium term - 0.945, Short term - 0.98
Resistance -
- Long term - 1.174, Medium term - 1.07, Short term - 1.035
Economic release today -
- PMI rose to 51.6 for January.
- Real retail sales rose by 0.2% in January.
Commentary -
- Franc is much better performer today but down over stronger Dollar.