Currency snapshot (major pairs)

Dollar index trading at 94.96 (+0.38%)

Strength meter (today so far) – Euro -0.76%, Franc -0.70%, Yen +1.5%, GBP -0.45%

Strength meter (since last week) – Euro +0.41%, Franc -0.27%, Yen +0.54%, GBP +0.11%

EUR/USD –

Trading at 1.122

Trend meter –

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

Support

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

Resistance –

• Long term – 1.2, Medium term – 1.16, Short term – 1.145

Economic release today –

• Consumer price index declined -0.1 percent and core grew at 0.8 percent

Commentary –

• Euro is grinding lower as it gives up all of its FOMC gains.

GBP/USD –

Trading at 1.413

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 –

• Bank of England held monetary policy steady.

Commentary –

• Pound is moving lower to test 1.4 area.

USD/JPY –                      

Trading at 104.3

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 –

• BOJ kept policy steady.

Commentary –

• Yen is best performer today as BOJ kept policy steady. 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 0.964

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 –

• SNB kept policy steady.

Commentary –

• Franc is down in line with Euro. We expect Franc to strengthen against Dollar to as high as 0.9 area in the medium term.