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Currency snapshot (major pairs)

Dollar index trading at 89.65 (+0.52%)

Strength meter (today so far) – Euro -0.47%, Franc -0.60%, Yen -0.40%, GBP +0.13%

Strength meter (since last week) – Euro -0.42%, Franc -1.19%, Yen -0.99%, GBP -0.06%

EUR/USD –

Trading at 1.234

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 –

  • Zew survey economic sentiment declines to 29.3 in February.

Commentary –

  • The euro is down this week as the dollar recovers. 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 –

  • NIL

Commentary –

  • The pound is the best performer of the week but down against the dollar. Active call-  short term sell targeting 1.375

USD/JPY –           

Trading at 107.2

Trend meter -

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

Support –

  • Long term – 101, Medium term – 104.2, Short term – 106

Resistance –

  • Long term – 112, Medium term – 110, Short term – 109

Economic release today –

  • NIL

Commentary –

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

USD/CHF –

Trading at 0.935

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 –

  • January trade balance came at 1.324 billion.

Commentary –

  • Franc is the worst performer of the week.

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