Currency snapshot (major pairs)

Dollar index trading at 89.95 (+0.09%)

Strength meter (today so far) – Euro +0.05%, Franc +0.08%, Yen +0.06%, GBP -0.20%

Strength meter (since last week) – Euro +0.13%, Franc -0.32%, Yen -0.16%, GBP -0.19%

EUR/USD –

Trading at 1.231

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 –

• M3 money supply up 4.6 percent y/y in January.
• Private loans up 2.9 percent y/y in January.
• Industrial confidence declined to 8 in February.
• Business climate declined to 1.48
• Economic sentiment declined to 114.1
• Consumer confidence declined to  0.1
• Services sentiment rose to 17.5

Commentary –

• The euro is the best performer of the week so far.

GBP/USD –

Trading at 1.393

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 worst performer of the day. Gave up earlier gains on hawkish BoE commentary due to domestic political trouble.  Active call-  short term sell targeting 1.375

USD/JPY –           

Trading at 107

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 –

• Industrial production report for January will be published at 23:30 GMT, followed by retail trade report at 23:50 GMT.

Commentary –

• The yen is flat for the week. Active call – Buy yen targeting 101

USD/CHF –

Trading at 0.938

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 the worst performer of the week so far.

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