Currency snapshot (major pairs)

Dollar index trading at 97.45 (+0.25%)

Strength meter (today so far) - Euro -0.25%, Franc -0.28%, Yen -0.14%, GBP +0.00%

Strength meter (since last week) - Euro -0.26%, Franc -0.64%, Yen +0.81%, GBP -0.16%

EUR/USD -

Trading at 1.097

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 -

• NIL

Commentary -

• For Euro, focus is tomorrow, what ECB does.

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 -

• Manufacturing production rose +0.7% in January and industrial production is up 0.3%.

Commentary -

• Pound is struggling at key resistance around 1.425 area.

USD/JPY -                      

Trading at 112.9

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 -

• Machine tools orders down -22.6% in February from a year ago.

Commentary -

• Yen rally got halted at key resistance around 112.2 area, still best performer this week. 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 0.999

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 worst performer this week.