Currency snapshot (major pairs)

Dollar index trading at 90.22 (+0.11%)

Strength meter (today so far) – Euro -0.08%, Franc +0.11%, Yen -0.41%, GBP +0.26%

Strength meter (since last week) – Euro -0.11%, Franc -1.40%, Yen -1.09%, GBP +0.36%

EUR/USD –

Trading at 1.23

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 gave up earlier gains over Italian election and as Trump imposes metal tariffs.

GBP/USD –

Trading at 1.385

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 –

• Industrial production up 1.6 percent y/y.
• Manufacturing production up 2.7 percent y/y.

Commentary –

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

USD/JPY –           

Trading at 106.9

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 –

• BoJ kept monetary policy unchanged at today’s meeting.

Commentary –

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

USD/CHF –

Trading at 0.95

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 –

• Unemployment rate dropped to 2.9 percent y/y in February.

Commentary –

• Franc is the worst performer this week.

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