Currency snapshot (major pairs)

Dollar index trading at 99.10 (+0.07%)

Strength meter (today so far) – Euro -0.10%, Franc -0.03%, Yen +0.20%, GBP -0.02%

Strength meter (since last week) – Euro +0.57%, Franc +0.50%, Yen +0.61%, GBP +0.71%

EUR/USD –

Trading at 1.085

Trend meter –

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

Support          

• Long term – 1.032, Medium term – 1.05, Short term – 1.06

Resistance –

• Long term – 1.09, Medium term – 1.085, Short term – 1.085

Economic release today –

• NIL

Commentary –

• The euro retraced some of the gains on broader dollar rebound.

GBP/USD –

Trading at 1.255

Trend meter –

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

Support –

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

Resistance –

• Long term – 1.32, Medium term – 1.27, Short term – 1.25 (broken)

Economic release today –

• NIL

Commentary –

• The pound is flat today, ahead of tomorrow’s Brexit trigger. We expect the pound to reach parity in the longer run.

USD/JPY –           

Trading at 110.5

Trend meter –

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

Support –

• Long term – 107, Medium term – 109, Short term – 109

Resistance –

• Long term – 121, Medium term – 119, Short term – 115

Economic release today –

• Retail sales report for February will be released at 23:50 GMT.

Commentary –

• The yen is testing key resistance area around 110.

USD/CHF –        

Trading at 0.986

Trend meter –

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

Support –

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

Resistance –

• Long term – 1.08, Medium term – 1.037, Short term – 1.037

Economic release today –

• NIL

Commentary –

• Franc is flat for the day.  Active call -Franc might decline to 1.08 per dollar. Target extended to 1.14