Currency snapshot (major pairs)

Dollar index trading at 95.60 (+0.48%)

Strength meter (today so far) – Euro -0.52%, Franc +0.19%, Yen -0.18%, GBP -0.27%

Strength meter (since last week) – Euro -0.78%, Franc -0.25%, Yen -0.02%, GBP +0.89%

EUR/USD –

Trading at 1.113

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 dropped sharply on stronger Dollar, and worst performer of the week. Our longer term target for Euro to reach as high as 1.20 against Dollar.

GBP/USD –

Trading at 1.463

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 – 1.49, Medium term – 1.47, Short term – 1.47

Economic release today –

• NIL

Commentary –

• Pound is last man standing positive against Dollar this week, but lost grounds since yesterday.

USD/JPY –                      

Trading at 109.9

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 –

• NIL

Commentary –

• Yen is flat for the week amid heavy swings. Fourth flip of the week so far. 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 0.992

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 – 1

Economic release today –

• Industrial production in first quarter rose 1%, down -2.2% for the week.

Commentary –

• Franc is down this week but much better performer. We expect Franc to strengthen against Dollar to as high as 0.9 area in the medium term.