Currency snapshot (major pairs)

Dollar index trading at 96.10 (+0.51%)

Strength meter (today so far) – Euro -0.41%, Franc -0.21%, Yen -0.51%, GBP -0.56%

Strength meter (since last week) – Euro -0.83%, Franc -0.62%, Yen -1.15%, GBP -2.19%

EUR/USD –

Trading at 1.118

Trend meter –

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

Support

• Long term – 1.048, Medium term – 1.07, Short term – 1.08

Resistance –

• Long term – 1.15, Medium term – 1.137, Short term – 1.137

Economic release today –

• NIL

Commentary –

• Euro is down for fourth consecutive day over comeback of Dollar. Our longer term target for Euro to reach as high as 1.20 against Dollar. However in the short run it might find resistance around 1.143 area.

GBP/USD –

Trading at 1.415

Trend meter –

• Long term – Sell, Medium term – Sell, Short term – Range/Buy

Support –

• Long term – 1.35, Medium term – 1.38, Short term – 1.41

Resistance –

• Long term – 1.463, Medium term – 1.45, Short term – 1.45

Economic release today –

• NIL

Commentary –

• Pound is down further as Brexit and Budget issues continue to weigh. We still expects pound to grow stronger going ahead. Likely to gain towards 1.5 area.

USD/JPY –                      

Trading at 111.8

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 on its way to test 114 area once more against 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 0.97

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 –

• Zew survey expectations rose to 2.5 for March, up from -5.9 in February.

Commentary –

• We expect Franc to strengthen against Dollar to as high as 0.9 area.