Currency snapshot (major pairs)

Dollar index trading at 91.37 (-0.57%)

Strength meter (today so far) – Euro +0.78%, Franc +0.47%, Yen +0.12%, GBP +0.70%

Strength meter (since last week) – Euro +0.83%, Franc +0.20%, Yen +1.68%, GBP +0.49%

EUR/USD –

Trading at 1.212

Trend meter –

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

Support          

• Long term – 1.14, Medium term – 1.16, Short term – 1.18

Resistance –

• Long term – 1.22, Medium term – 1.22, Short term – 1.2 (broken)

Economic release today –

• NIL

Commentary –

• The euro rose sharply as Germany announced deal reached over grand coalition. Active call – Buy targeting 1.25

GBP/USD –

Trading at 1.363

Trend meter –

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

Support –

• Long term – 1.28, Medium term – 1.295, Short term – 1.32

Resistance –

• Long term – 1.38 Medium term – 1.36, Short term – 1.35 (broken)

Economic release today –

• NIL

Commentary –

• The pound is up this week as dollar slides. Active call-  Buy targeting 1.44

USD/JPY –           

Trading at 111.2

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 – 114.2, Short term – 114.2

Economic release today –

• NIL.

Commentary –

• The yen is the best performer of the week on reports that BoJ trimming bond purchases. Active call – Buy yen targeting 101

USD/CHF –

Trading at 0.972

Trend meter –

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

Support –

• Long term – 0.90, Medium term – 0.92, Short term – 0.95

Resistance –

• Long term – 1.04, Medium term – 1.01, Short term – 1.00

Economic release today –

• NIL

Commentary –

• Franc is a much worse performer than the euro this week. Active call – Buy pair targeting 1.02

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest