Currency snapshot (major pairs)

Dollar index trading at 95.49 (-0.13%)

Strength meter (today so far) – Euro +0.08%, Franc +0.13%, Yen -0.13%, GBP +0.57%

Strength meter (since last week) – Euro -0.68%, Franc -0.18%, Yen -0.37%, GBP +1.36%

EUR/USD –

Trading at 1.115

Trend meter –

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

Support

• Long term – 1.08, Medium term – 1.10, Short term – 1.115  

Resistance –

• Long term – 1.2, Medium term – 1.17, Short term – 1.13

Economic release today –

• NIL

Commentary –

• Euro is worst performer of the week. Our longer term target for Euro to reach as high as 1.20 against Dollar.

GBP/USD –

Trading at 1.47

Trend meter –

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

Support –

• Long term – 1.4, Medium term – 1.4, Short term – 1.427 

Resistance –

• Long term – 1.47, Medium term – 1.467, Short term – 1.467

Economic release today –

• NIL

Commentary –

• Pound is best performer today and this week as poll shows people are favoring stay in EU.

USD/JPY –                      

Trading at 110.3

Trend meter –

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

Support –

• Long term – 98.5, Medium term – 102.8, Short term – 105

Resistance –

• Long term – 121, Medium term – 115, Short term – 111.2

Economic release today –

• Corporate service prices for March will be released at 23:50 GMT.

Commentary –

• Yen has moved from positive on Monday to red today. Active call – Buy Yen @119.5 with stop loss around 123.8 and target at 114 and 110, 108.9 and 98.5 First three target reached, new target 90 added.

USD/CHF –                                                                                         

Trading at 0.991

Trend meter –

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

Support –

• Long term – 0.905, Medium term – 0.927, Short term – 0.95

Resistance –

• Long term – 1.037, Medium term – 1.01, Short term – 0.98

Economic release today –

• UBS consumption indicator rose to 1.47
• Zew survey expectations improved to 17.5 from 11.5

Commentary –

• Franc is much better performer than Euro. We expect Franc to strengthen against Dollar to as high as 0.9 area in the medium term.