Currency snapshot (major pairs)

Dollar index trading at 97.06 (-0.03%)

Strength meter (today so far) - Euro +0.1%, Franc +0.23%, Yen +0.39%, GBP -0.40%

Strength meter (since last week) - Euro +0.25%, Franc +0.02%, Yen +0.65%, GBP -0.13%

EUR/USD -

Trading at 1.103

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 - 1.107

Economic release today -

• Euro Zone GDP grew 0.3% in last quarter of 2015, up 1.6% from a year ago.

Commentary -

• Euro is up for the week and hovering around 1.1 area before ECB on Thursday.

GBP/USD -

Trading at 1.42

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 - 1.405

Economic release today -

• BRC retail sales monitor rose by 0.1% y/y in February.

Commentary -

• Pound is worst performer of the week and today.

USD/JPY -                      

Trading at 113

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 -

• Consumer confidence dropped to 40.1 in February from 42.5 in January.

Commentary -

• Yen turned best performer today and this week as Chinese data spooked investors. 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 0.993

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 almost flat for the week.