Currency snapshot (major pairs)

Dollar index trading at 89.20 (+0.16%)

Strength meter (today so far) – Euro +0.12%, Franc -0.41%, Yen -0.43%, GBP -0.08%

Strength meter (since last week) – Euro +0.12%, Franc -0.41%, Yen -0.43%, GBP -0.08%

EUR/USD –

Trading at 1.241

Trend meter –

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

Support          

• Long term – 1.18, Medium term – 1.2, Short term – 1.22

Resistance –

• Long term – 1.25, Medium term – 1.25, Short term – 1.25

Economic release today –

• December current account balance came at €29.9 billion.
• Construction output up 0.1 percent in December, up 0.5 percent from a year ago.

Commentary –

• The euro is the best performer of the day. Active call – target  reached1.25

GBP/USD –

Trading at 1.4

Trend meter –

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

Support –

• Long term – 1.35, Medium term – 1.385, Short term – 1.385

Resistance –

• Long term – 1.50 Medium term – 1.485, Short term – 1.435

Economic release today –

• Rightmove house price index rose 0.8 percent in February, up 1.5 percent from a year ago.

Commentary –

• The pound is marginally down today. Active call-  short term sell targeting 1.375

USD/JPY –           

Trading at 106.6

Trend meter -

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

Support –

• Long term – 107, Medium term – 108.4, Short term – 108.4

Resistance –

• Long term – 116, Medium term – 112, Short term – 110

Economic release today –

• NIL

Commentary –

• The yen is down this week as equities recover after the selloff. Active call – Buy yen targeting 101

USD/CHF –

Trading at 0.928

Trend meter –

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

Support –

• Long term – 0.90, Medium term – 0.92, Short term – 0.92

Resistance –

• Long term – 1.03, Medium term – 0.98, Short term – 0.95

Economic release today –

• NIL

Commentary –

• Franc is a worse performer than the euro this week.

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