Currency snapshot (major pairs)

Dollar index trading at 98 (-0.20%).

Strength meter (today so far) - Euro +0.34%, Franc +0.22%, Yen -0.41%, GBP +0.01%

Strength meter (since last week) - Euro -0.26%, Franc +0.09%, Yen +0.02%, GBP +1.61%

EUR/USD -

Trading at 1.09

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 -

• Markit services PMI edged up to 53.3 in February.

Commentary -

• Euro is best performer today on short squeeze at key levels.

GBP/USD -

Trading at 1.407

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(broken)

Economic release today -

• UK services PMI came at 52.7 for February.

Commentary -

• Pound is the best performer this week, largely due to profit booking and short squeeze.

USD/JPY -                      

Trading at 113.9

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 -

• NIL

Commentary -

• Yen is under selling pressure from equity rallying and getting bids due to weaker Dollar. 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 0.994

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 -

• NIL

Commentary -

• Franc is gaining on weaker Dollar.