Currency snapshot (major pairs)

Dollar index trading at 97 (-0.32%).

Strength meter (today so far) - Euro +0.48%, Franc -40%, Yen -0.05%, GBP +0.53%

Strength meter (since last week) - Euro +0.18%, Franc -0.09%, Yen -0.44%, GBP +0.94%

EUR/USD -

Trading at 1.083

Trend meter -

• Long term - Sell, Medium term - Sell, Short term - Range/Buy support/Sell resistance

Support -

• Long term - 1.048-1.036, Medium term - 1.048-1.036, Short term - 1.048-1.036, Immediate - 1.065

Resistance -

• Long term - 1.1035-1.11, Medium term - 1.102-1.11, Short term - 1.083-1.086(broken)

Economic release today -

• Euro group finance ministers to hold meeting at Riga over Greece.

Commentary -

• Euro broke further highs against dollar, traded as high as 1.09, faced large selloffs from the level. Further rise can't be ruled out. Test of 1.105 very much likely.

GBP/USD -

Trading at 1.511

Trend meter -

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

Support -

• Long term - 1.425-1.417, Medium term - 1.462-1.455, Short term - 1.462-1.455

Resistance -

• Long term - 1.553-1.56, Medium term - 1.516-1.52, Short term - 1.498-1.502(broken)

Economic release today -

• NIL

Commentary -

• Pound is the best performer this week, testing waters around medium term support. Long positions are not advised due to election turmoil. Rise towards 1.526 is likely.

USD/JPY -                      

Trading at 119.5

Trend meter -

• Long term - Buy, Medium term - Range/Sell, Short term - Range/Buy support/Sell resistance

Support -

• Long term - 113.7-112.9, Medium term - 115.7-115, Short term - 118.5-118

Resistance -

• Long term - 125, Medium term - 122, Short term - 122. Immediate - 120.8

Economic release today -

• All industry activity in February, weaker than prior 1.9%, however still positive at 0.1%.

Commentary -

• Yen is trading almost flat, with very low intraday volatility, and seems as if traders lost interest in yen.

USD/CHF -

Trading at 0.954

Trend meter -

• Long term - Buy, Medium term - Sell/Range, Short term - Range/Sell resistance

Support -

• Long term - 0.88, Medium term - 0.937, Short term - 0.945, Immediate - 0.95

Resistance -

• Long term - 1.174, Medium term - 1.025-1.02, Short term - 0.997, Immediate - 0.966-0.972

Economic release today -

• NIL

Commentary -

• Franc bulls are back once again to 0.95 area to test the resolve of dollar bulls. Medium term trend has potential to push pounds to 0.895-0.90 against dollar, should the level break.