Currency snapshot (major pairs)

Dollar index trading at 89.59 (-0.46%)

Strength meter (today so far) – Euro +0.59%, Franc +0.35%, Yen +0.09%, GBP +0.56%

Strength meter (since last week) – Euro +0.78%, Franc +0.01%, Yen -0.44%, GBP +0.98%

EUR/USD –

Trading at 1.241

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 –

• NIL

Commentary –

• The euro started the week on a stronger footing as trade war prospect weighs on the dollar.  

GBP/USD –

Trading at 1.392

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 –

• BRC like for like retail sales up 0.6 percent y/y in February.

Commentary –

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

USD/JPY –           

Trading at 106.2

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 the down this week due to lack of risk aversion. Active call – Buy yen targeting 101

USD/CHF –

Trading at 0.937

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 –

• CPI inflation rose 0.4 percent in February, up 0.6 percent in February.

Commentary –

• Franc is a much worse performer than the euro.

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