Currency snapshot (major pairs)

Dollar index trading at 90.08 (+0.09%)

Strength meter (today so far) – Euro -0.19%, Franc -0.14%, Yen +0.04%, GBP +0.16%

Strength meter (since last week) – Euro -0.19%, Franc -0.14%, Yen +0.04%, GBP +0.16%

EUR/USD –

Trading at 1.229

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 –

• Markit services PMI declined to 56.2 in February.
• Sentix investor confidence declined to 24 in March.
• Retail sales declined 0.1 percent in January, up 2.3 percent from a year ago.

Commentary –

• The euro started the week on a weaker footing as Italian election outcome weighs.  

GBP/USD –

Trading at 1.381

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 –

• Markit services PMI rose to 54.5 in February.

Commentary –

• The pound is the best performer of the day so far. Active call-  short term sell targeting 1.375 (target reached); extended to 1.354

USD/JPY –           

Trading at 105.7

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 –

• Markit services PMI declined to 51.7 in February.

Commentary –

• The yen is the up this week as Kuroda signaled policy wind up in 2019. Active call – Buy yen targeting 101

USD/CHF –

Trading at 0.939

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 down in line with the euro.

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